VCW 4 IceWatch: Navigating Arctic Waters
Launching an iceberg detection service for safer and more efficient shipping in the Northern Sea Route.
Sea ice monitoring service: IceWatch
The OTB team applies the Value Creation Wheel to identify the optimal market (Helsinki, Finland) for IceWatch, a platform providing crucial iceberg data for Arctic shipping.
Overview
The presentation focused on finding a suitable market for IceWatch, a service providing iceberg detection and drifting data for ships. The team used the Value Creation Wheel (VCW) to analyze the problem and identify Helsinki, Finland, as the ideal launch market. The service aims to improve the safety of ships and reduce costs.
Application: Applying VCW to find the best market
Discover Value (Phase 1): Defined IceWatch's value proposition (route shortening, fuel reduction, risk mitigation) and aligned with SDGs, the European Green Deal, and the Paris Agreement. Identified the target market (shipping companies in the Northern Sea Route).
Induced Solutions & Filters (Phase 2): Considered all UN member states as potential solutions. Brainstormed 62 filters using the 6-3-5 method, categorized into technology, economy, geography, environment, political/societal, and competition.
Selecting Filters (Phase 3): Used the POCR method and key decision-maker input to narrow down to 11 global and 3 local filters. Ranked the global filters based on importance (data access, shipping connectivity, logistics performance, etc.).
Value Creation Funnel (Phase 4a): Applied the global filters, leading to Finland. Applied local filters (harbors, shipping companies, startups), leading to Helsinki.
Positioning & Prototype (Phase 4b): Described Helsinki's characteristics (port importance, institutions, digital infrastructure). Segmented customers (focus on private freight companies) and identified key targets. Analyzed competitors and positioned IceWatch (focus on Helsinki, government collaboration). Developed a prototype platform.
Consolidation (Phase 5): Developed a business model canvas, detailed manpower needs, created a financial plan (funding, pricing - subscription model), and outlined a timeline. Defined KPIs (short, mid, and long-term) and future objectives.
Key Takeaways
Strategic Market Choice: Helsinki, Finland, is ideal due to its central role in Arctic shipping, strong digital infrastructure, and relevant institutions.
Value for Shippers: IceWatch provides crucial data for safer, faster, and more cost-effective Arctic navigation.
Competitive Edge: IceWatch differentiates through its focus on Helsinki, customization, and potential for integration with navigation systems.
Subscription Model: Two tiers (standard, premium) cater to different customer needs and budgets.
Funding Strategy: A combination of loans, grants (Finnish and EU), and potential investor funding is proposed.
Conclusion
Icewatch offers timely and reliable iceberg forecasts, helping shipping firms. The next steps are to create strategic partnerships, improve the team R&D, and gain more industry expertise.