Eliminating waste in agriculture by using satellite systems for precision farming
| Reference number | |
| Coordinator | VULTUS AB |
| Funding from Vinnova | SEK 500 000 |
| Project duration | September 2019 - March 2020 |
| Status | Completed |
Important results from the project
Vultus had planned early commercial activities to expand in the market and provide the conditions to scale up our activities. Through the project, the goal was to put together a business plan by investigating several market and technical aspects of our product. The goal has been achieved through the execution of the project plan, which included market analysis, technical analysis and risk analysis, all of which have been combined in an SME Instrument Phase 2 proposal. As a results, we have achieved the project goal of improving our ability to grow commercially.
Expected long term effects
We expected through the project, to grow our sales and create the conditions for large-scale expansion. By sharpening our market expansion, we have become better at penetrating new markets. At the same time, our product strategy has become clearer through technical evaluation. We are now laying the foundations for a large-scale expansion that we will begin in 2020 in connection with growth financing.
Approach and implementation
The project was carried out in six different steps. First, we did a market analysis. Then, we evaluated our business model, especially in connection with the market analysis. Next was risk analysis and technical analysis, which informed our future development. As a results, we created a smaller IP feasibility study. The results of these five activities were implemented in a business plan that became the basis for an SME Instrument Phase 2 proposal.