IQ Wear

The product is currently being prepared for the first production of an MVP, which will undergo preliminary testing and research. The technologies that make up the device's functionality and the selection of components are currently being consulted with engineers. The innovation system consists of four interrelated components:
1. Sensory data will be collected through helmet-mounted accessories equipped with a 9-axis set of sensors (accelerometer, gyroscope and magnetometer). Each device is equipped with an Artificial Neural Network for sensory data analysis.
2. Data from the delivery will be processed with algorithm support inside the device using Edge Computing, and then sent to a server via NBIOT or LTE and stored in a database. Data access and visualization will be possible via mobile or web application.
3. Machine learning algorithms will allow detection of worker falls enabling early notification of accidents or fainting. In addition, they will be equipped with immobility detection, which will allow them to catch moments of cessation of work or work with visibly reduced efficiency, such as too long a break, slacking off, or notorious interruptions during work.
4. The heart of the device will be housed in an enclosure resistant to adverse conditions on the construction site. The design will be powered by a battery allowing for 12-hour operation, and charging will be done inductively.

IQWear's business model is based on renting smart helmets with subscription access to the IQWear system.
We estimate user growth at 6.5-9% month to month.

We can achieve profitability at the end of year 2, reaching a nopat of 5.4 million at the end of the 7-year period.

The latest industry reports estimate that the construction market employs more than one million workers in Poland, so reaching breakeven as early as mid-3rd year, is possible based on 0.16% of the market.

Further development of the company, is primarily a continuous work on the product and expansion into foreign markets:
1. new functionalities of the algorithm:
Informing about a worker's potential intoxication, which is a very common problem on construction sites and Introduction of deep learning for advanced algorithm development
2. full industrialization of product based on big data
3. expansion into new European and american markets

Building scale and entering new markets may be too expensive to finance from operations. Therefore, we are willing to cooperate with potential investors, which will accelerate expansion and provide opportunities to expand research.

The problem facing the construction sector is two-dimensional. This entire market is struggling with a lack of effective controls for safety and efficiency. The lack of supervision gives workers the autonomy to do the work at their own pace and also encourages violations of health and safety regulations, which contributes to an increase in accidents. On the other hand, the prospect of implementing continuous supervision of all workers is very costly.

Management does not have the tools to effectively measure the effective performance of its staff. 45% of professionals say they could do their jobs more efficiently. As the survey proves - the larger the size of the workforce, the higher the drop in efficiency. This directly increases the company's operating costs related to: missed deadlines for completion and extended payroll. 69% of business owners say that the poor quality of subcontractors' work is the main reason for project delays.

Competitive advantage will be built upon:
1 The solution is affordable, allows real-time verification and easy to implement without required hardware e.g. surveillance cameras.
2 Simultaneous analysis a huge amount of individual data to allow drawing data driven business calls.
3 Constant system development seeking for new features and functionalities, increasing competitive advantage by constantly delivering more value to the customers.

Bartlomiej Gawin will be hired as head of research and development. Bartlomiej Gawin is a manager with many years of experience in the IT and EEM industries. He has authored and managed many commercial and R&D projects, including grants funded by the European Commission and NCBiR. Professor at the University of Gdansk, lecturer and practitioner in the areas of information systems design, business process management, energy efficiency management and Business Intelligence data processing.

Artur Frankiewicz - Master's degree in computer science. He has been professionally involved with one of the biggest technology companies in Poland - AIUT for more than 10 years, where he currently serves as Director of IoT Device Development. His role in the organization is to provide the market with comprehensive solutions in the area of Internet of Things. Leading R&D and external projects in the OEM model, he is closely involved in the creation and protection of the intellectual property of both AIUT and its partners. Member of the European Committee for Standardization and national expert of the Polish Committee for Standardization in the field of standardization of communication protocols. In the project, he is the director for IoT.

Piotr Markowski will hold the position of programmer in the project. He graduated from the Gdansk University of Technology with a master's degree in computer networks. He is currently working on a project based on artificial intelligence using languages such as JAVA, SQL and Javascript.

Daniel Konarzewski, as an experienced strategist and enterpreneur who gained experience in the financial sector and banking. He owns a marketing agency run successfully for many years, where he delivered numerous products to its clients. He will hold a position of a CEO, and head of product and marketing.

Advisory board consists of:
Donata Strycharczyk and Karolina musielewicz - experts in public and european funded contests and funding
Przemysław Sola - interim CFO, expert in VC and bridge alpha funding
Antoni Łącki - HR and training expert with who supports recruitment and onboarding
Jakub Dobrowodzki - CEO of one of the top 100 biggest construction companies in Poland (Allcon)
Marek Gabryś - CEO of one of the biggest technological and automative companies in Poland (AIUT)

we will be realizing his project, which was budgeted for an above mentioned grant: https://www.parp.gov.pl/component/grants/grants/rozwoj-start-upow-w-polsce-wschodniej

Being shortlisted for semi-finals of Infoshare startup contest (finals will be held early October) and summer camp PARP startup contest finals (final phase of contest will be held on 9th of September)

IQ Wear company has already begun to build its brand by establishing relationships, conducting business discussions and giving product presentations to major construction companies. Furthermore, we have received a number of letters of intent from potential customers and managed to secure a close cooperation with polish tech giant AIUT that will help achieving the highest quality of product.

The startup conducted a series of pilot marketing campaigns and surveys geared towards studying the mood and awareness of the problem allowed us to accurately define the customer segment. Among them, the largest group of potentially interested customers represented the construction industry. According to the autumn (2019) edition of the Spectis research company's report entitled "Construction Market in Poland 2019- 2025", in 2021 the value of the construction market in Poland could reach a record high of 250 billion zlotys.The latest reports estimate that the construction market employs about 1.2 million workers in Poland, and each of them must be equipped with the appropriate clothing. In addition, the company plans to expand its business in the third year by taking advantage of export potential to European markets, i.e. Germany, Scandinavia, the UK. The identified Distribution Channels are campaigns on Linkedin, Construction Fairs and Direct Sales. The listed distribution channels are the same as those used to enter the Polish and European markets. In addition, as research shows European market is far more promising, being valued at astonishing 1,9 trilion EUR in 2018 according to Statista.
After that, in-depth market analyses were conducted to establish a precise pricing policy and to study the market's expectations of the solution:
- Quantitative research via LinkedIn
- Qualitative survey among middle and senior management
- Literature analysis and study on market size and absorption
- Business consultation with stakeholders
- Analysis of experience from similar product launches

The result of business analysis and consultation was the development of a unique value proposition for the client: increased safety and efficiency of employees.