VCW 4 BF6: Marine Environment Monitoring
Identifying the optimal market for Earth Observation services in sustainable fishing.
What is the most attractive geographical market for our Start-Up to launch Earth Observation Services for fishing?
This project utilizes the Value Creation Wheel (VCW) framework to determine the most attractive geographical market for BF6, a startup offering Earth Observation (EO) services to support environmental regulations in the marine environment.
Overview:
BF6 aims to address challenges like overfishing and illegal fishing by providing value-added EO services to public authorities. The team used the VCW to analyze market conditions, identify potential target markets, and develop a business model. The project focused on providing data for decision-making in environmental regulations.
Application of the VCW:
The process began by defining the core challenge: identifying the most attractive geographical market for launching EO services for fishing. The team then established KPIs to track progress and ensure alignment with project goals. An extensive analysis was conducted using frameworks like PASTEL, SWOT, and TAUS. The process involved generating a comprehensive list of global and local filters, which were then refined using the POCR method. This allowed the team to narrow down potential markets based on factors like EEZ size, illegal fishing rates, and innovation indices. Finally, through the application of MCDA and a value creation funnel, Portugal, specifically the Oeste region, was identified as the most suitable market.
Key Takeaways:
Data-Driven Market Selection: Using a structured approach with filters and analysis ensured objective market selection.
Portugal's Strategic Advantage: Portugal's extensive coastline and commitment to marine sustainability made it an ideal market.
Targeted Service Offering: Tailoring services to meet the specific needs of public authorities enhances value proposition.
Sustainability Alignment: Aligning with SDGs strengthens the company's mission and attracts environmentally conscious clients.
Technology and Expertise: Combining EO data with expert analysis provides actionable insights for environmental regulation.
Conclusion:
BF6's application of the VCW framework successfully identified Portugal's Oeste region as the optimal market for its EO services. The project highlights the importance of a systematic and data-driven approach in strategic decision-making.