In the framework of WindiBox SME Phase 1, initially a thorough market study was employed. The study includes data with regards to the existing small-scale wind turbine market, identification of potential target markets/countries as well as assessment of the various regions worth exploring, for a better revenue stream calculation. This was achieved through extensive study of market research reports and official wind energy data and statistics, as well as global wind speed and PV production trends per targeting region/country. Competition analysis and evaluations were conducted during the market research as well. In addition, through focus groups and a user survey within the identified target markets, we managed to acquire vital feedback from 150 responders on their preferences and willingness to invest in WindiBox. Based on the responses and the discussions with energy experts, we are not only convinced about the potentials of our product but for the future of small-scale wind turbines within the urban environment. Further to that, all relevant certification normatives for small-scale wind turbines and procedure steps were examined. Based on the findings, a business model canvas and market forces analysis were conducted.
In addition, a technical study was carried out in order to finalise WindiBox’s dimensions, to define the materials and their properties, and to estimate the production cost. Primary requirements for the finalisation of dimensions were the production rates, the ease of integration for all electromechanical components and the ease of assembly for the complete product. Moreover, the material selection was finalised and the bill of materials was compiled. This was carried out through direct contact with international manufacturing companies and wholesale material suppliers. The findings were used as input to further optimize our estimations for the production costs of WindiBox sub-systems and complete assembly.
Lastly, a detailed and specifically structured business plan was created, including a detailed communication, dissemination and commercialization plan. The business plan was created based on: a) the market study results and the market segmentation, b) the detailed and specifically structured model business canvas, c) the technical report and the production costs, d) sales targets, and e) required investments.
The completed work documented on the feasibility report revealed that no changes need to be performed on the project’s initial objectives and concept approach. The completed work helped us to further improve substantial aspects related to the project impact and particularly the market study, technical details and business approach.
The findings of the feasibility report also revealed that WindiBox can become a leading solution in the wind energy of urban environments. We are looking ahead on employing our conclusive strategies for achieving highly efficient acceptance rates of WindiBox within the targeting markets.
Our upcoming and foremost target is to achieve further support through the SME Phase 2 funding in order to complete the objectives and goals related to the optimization of the final technical aspects of WindiBox, the industrialisation of the product and its certification, the large-scale demonstration and the implementation of all essential communication, dissemination and pre-commercial activities.
