Newsletter: Spring 2019
The last couple of months have been spent on important decision making for the company’s future, and defined our next direction. To begin with, we spent time strategizing and made calculations about the potential commercialization of the Drone Glove. We made a deliberate decision to move away from B2C, and the door to new opportunities in the B2B market opened up.
By use of our connections, we managed to get a partnership with a highly recognized consulting company, Norconsult. In addition to Norconsult, we have been in touch with other big companies and agencies by attending and showcasing our technology at the energy conference: Energy:Connected 2019.
- We move away from the commercialization of the Drone Glove, and into a more complete solution including a module based software solution and entering into the VR market. (see long version for more info)
- Partnered up with Norconsult and got 3 sponsored summer internships (+ 2 from Nordic Semiconductor
- Attended at Energy:Connected 2019 and were invited to TCS Innovation forum in Brazil
- Complete project accounts for “Skattefunn” projects and Innovation Norway
- Prepare summer projects of VR implementation
- Redesign and go live with our new website
Long version list of contents:
- Strategy decision; Module based software, and into the VR world!
- Bleeding Edge by Norconsult
- Energy Connected 2019
- TCS Innovation Forum in Brazil
- Financials and economy
- Software platform concept
- Workshop: Humans and Robots – Going to the moon together
Strategy decision: Software platform concept
By comprehensive calculations and evaluations, we have decided to move away from the commercialization of the Drone Glove. Our calculations show that it will cost a lot of both time and capital to implement a market introduction that possibly but not necessarily will be profitable.
To realize our company vision, (Capture Human Intent) in both short term and long term, we need certain systems. Lately we have explored the idea of having a universal software platform to connect our glove to all applications of the technology. This will include the glove and a driver, the software platform itself, and different modules for different applications (see picture below). This way it will ease the user experience, we will receive user data for research and it can potentially produce a positive revenue stream.
Strategy decision: Into the VR world!
Bleeding Edge by Norconsult
TCS Innovation Forum in Brazil
Financials and economy
As today we are low on cash, a couple of thousands, waiting for remaining funding by Innovation Norway as soon as our accounting are taken care of. The remains from Innovation Norway means 311 250 NOK, which 70 000 NOK will be used to unpaid invoices. Through the summer months we will use approximately 70 000 NOK at personnel costs (inc. tax/fees). We will need to obtain additionally cash to the end of the year (specification will be studied through the summer).
A-Team wishes you all the best!