Great agricultural efficiency from space
| Reference number | |
| Coordinator | VULTUS AB |
| Funding from Vinnova | SEK 1 000 000 |
| Project duration | December 2017 - December 2018 |
| Status | Completed |
| Venture | Innovative Startups |
Purpose and goal
The project’s goal, was to enable the development of a product, that can contribute to the reduction of waste in agriculture. This could be achieved by developing a demo product, and working iteratively with end users to optimize functionality, business model and distribution. The purpose, was for Vultus to come closer commercialization and internationalization. The new commercial opportunities, have the possibility to reduce agricultural waste at an international scale, to increase food production, and reduce emissions, in the farming sector.
Expected results and effects
Throughout the project, Vultus has developed a working product, through end-user engagement. Functionality, requirements and design, have all been optimized based on input from end users. Meanwhile, we have found a solid business model and distribution strategy. Vultus is now ready for internationalization. The project, has exceeded both its purpose and goal. As a result of the work, Vultus took in external capital from several international investors. Meanwhile, our technological development, has enabled a patent application, to better protect our unique offering.
Planned approach and implementation
In a the first stage, a demo-product was developed. This achieved the purpose, to gain feedback and input, on our functionality and business model. Thereafter, we have iteratively worked with partners to sharpen our offering, business model and distribution. Through the project, we have found a unique and very scalable, distribution channel, that enables a SaaS business model. As a result, we have focused on API development, to tailor the product to the business needs. The project has been executed, in accordance with the set out budget and timeplan.