Bosolog

Short description of the app/service

Bosolog ApS is developing a smart solution that targets existing, unmet needs in the IoT market – an innovative system for real time monitoring of foods, expensive works of art and other valuable assets (mobile and fixed), during storage, transportation and at the user’s site. Our innovative concept encompasses elements such as: fully automated business logics, accurate mapping; real-time monitoring of several parameters and personal alerting by exceptions; proactive maintenance; and support to tactical and operational decision-making.

Bosolog’s system is disruptive, generic, flexible and user-friendly (i.e. purpose-specific multi-sensor arrays plus a web service) which provides real time monitoring of valuable and critical assets throughout the supply chain. Its solution comprises hardware (box of 7x7x2 cm) containing multiple sensors (off-the-shelf), including GPS and a SIM card modem for reporting all data in real-time to a cloud/web-based, user-friendly software platform. The box is water, shock and abrasion proof, which means that it has been designed to withstand adverse conditions. The inbuilt battery lasts 3-15 years, depending on how often it is programed to deliver measurements (i.e. one or several data – SMS/GRPS a day).

Problem being addressed / business opportunity / USP

The use of the Bosolog product is very generic and concerns many different sectors. In this application, we have chosen to focus on the potential of the following markets in the area of Smart Cities: 1. Meal delivery to elderly in nursing- and care homes; 2. Transportation of art in state owned museums 3. Public bus passenger transportation security & comfort and 4. Public disabled/elderly transport service security & comfort.

At Bosolog, we estimate a total market potential of approximately €6.2 million a year only in Denmark for the four areas, based on data collected from the Danish Transport Authority and Danish Culture Agency. By year 3, Bosolog will have gained a market share of 1 % with a turnover of €8.3 million. This is only a small fraction of the total share for Bosolog, due to its generic applicability, both describing and monitoring the object in question and its surroundings. It is easy to implement, because there is no need to make any constructional changes for the customers.

Business critical and valuable assets e.g. expensive art represent a large share of company assets, with logistics, personal & economic security and maintenance representing considerable costs. These expenses are compounded when e.g. delivery is delayed, due to transportation problems, including exposure to environmental effects (temperature, humidity, etc.), and/or negligent handling (falls, shocks, vibrations, etc.) When these problems occur it is difficult to attribute responsibilities and determine where and what was exactly the cause of damage/problem or loss of efficiency. As far as the latter 2 target markets are concerned, it is necessary to prevent accidents by minimalizing the passenger’s exposure to G force and uncomfortable indoor conditions. In the last category, we are dealing with vulnerable citizens, who often find it difficult to express their needs and who require cautious and comfortable transportation.

The Team

The company has 3 full-time employees – Jesper Ravn Jacobsen (JRJ), Jørn Hansen (JH) and Michael Pedersen (MP). JRJ has a vast background in management, strategy, supply chain management, sales and business development. Moreover, JRJ has already carried out several international market studies as part of advising management of small and mid-size Danish companies. JH is a serial entrepreneur, recently working as “Business Sector Manager” for the Danish Export Association. JH´s vast network has already served Bosolog well by facilitating initial dialogue with 30 companies. MP has an extensive background in IT electronics and IT services, which he gained through engaging in several businesses in these areas. MP’s experience, business acumen and technical skills have been essential for Bosolog.