So, the main objective of the Feasibility Study is to guarantee technical, commercial and financial feasibility of our solution is able to look for, count and sort the amount of times that images, faces(people), texts and voices appear in any media channel (such as TV, Radio and Internet). It consists of developing the following tasks:
Task 1: The Technical Feasibility Study Report analyses aims to define effort requirements needed to scale our previous System for the projected target of recognizing images, voices and texts simultaneously from all media channels (TV, Internet, Radio). We will focus on (1) speech technologies, image recognition technologies and semantic analysis techniques. We will also work (2) on the definition of standard libraries based on speech and image recognition technologies.
Task 2:The Commercial Feasibility Study is designed to plan resources and requirements to launch a replication of our pilots in LATAM (Radio analysis for AUDITSA in Mexico) and Portugal (Copyright infringements for RTP) as well as to analyse competitors and their products/services to end up with a full benchmark report. We will carry out a market study. This will be used to perform a commercial risk assessment and a SWOT analysis.
Task3: The Economic-Financial Feasibility Study evaluates the total investment requirements from an economic point of view, and so we perform a full costs/benefit analysis as well as full financial projections for a 5 years period.
An overview of the results are:
1. Task 1. Technical Feasibility Study
- In-depth study for deploying completely standardized libraries based on speech and image recognition technologies.(Done)
- Perform a definition of the architecture for the customizable audio-visual control system.(Done)
- We also carried out a more thorough technological risk assessment.(Done)
2. Task 2: Commercial Viability Assessment
- Pricing and competitors analysis.(Done)
- SWOT analysis. (Done)
- Barriers to overcome in those regions where we want to introduce our products. (Done)
- Accurate expansion timeline indicating a route-to-market, penetration/marketing strategy, market inception, and full-scale commercialization. (Done)
- Preliminary dissemination plan optimized according to the business plan in order to organize the presence of Etiqmedia company in fairs and on the internet. (Done)
3. Task 3: Economic-financial Viability Assessment
- Pricing and costs, forecast sales, EBITDA, Return of Investment, (Done)
- Financing outline. (Done)
A dissemination and exploitation strategy is briefly based on the main actions:
1. Pilot trial. We will fully test the final version of our digital platform to look for, count, sort and audit images, faces (people), texts and voices that appear in any media channel (TV, radio and Internet) at the same time and in real time. The trial will be organized in a way that involves as many partners as possible.
2. First batch of searches that infringe IPRs for customers. We will provide a free trial (detections of copyrights infringements for a costumer during a short period of time) in collaboration with our partners to show the clients the benefits of our platform.
3. Dissemination and communication activities will focus on qualitative and quantitative indicators of the benefits of the Etiqmedia businesses model for customers (high-quality technical support, low-cost, etc). The role of our partners will be key, as they already have a large group of clients-end users that could be interested in the platform.
We have prepared a preliminary Commercial Plan covering the first five years after the launch of the Etiqmedia Platform. Sales will start in Spain (2023) with the support of our existing partners (see Table 13). Then (2024-2026), we will expand our actions to LATAM, taking advantage of our existing partners and highlighting our benefits if compared to US competitors as a key commercial message (quality and wide experience in Europe). Our consolidation period (2025-2027) will seek to consolidate our business model in the rest of Europe.
