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www.imaginlabs.com
# of Customers Day 1 11Day 2 12Day 3 5Day 4 10Day 5 3
Total 41
SebastienLeprince (PhD)
FrancoisAyoub (MS)
JamesHollingsworth (PhD)
JiaoLin (PhD)
TamaraKnutsen (grad)
Space Borne Environmental Intelligencevia SUPER high-precision co-registration
of satellite imagery
Partners
• Imagery providers (DigitalGlobe)
• USGS/NASA scientists
• University researchers using our free software
Activities• R&D on multi-angle imagery, image fusion/registration• Computing engine dev/testing/releasing?• (web) UI• Dev/admin computing infrastructure • Customizing to customer needs
Value Prop.
Service for 2D or 3D sub-pixel registration of satellite images
Cust. Relations
• “consulting” style
Cust. Segments
• Precision agriculture companies/Forestry
• NASA: processing of Mars imagery• USGS: damage assessment/earthquakes• Oil and Gas: sand dune risk and pipeline routing
Resources• Scientists / developers• Hardware (cloud?)• High bandwidth network• Patents and company “know how” • User feedbacks/newsletters/blogs
Channels
• Direct sales or via distribution partner• Data exchange via network (ftp)• Data exchange via FedEX for large volume
Costs
• Wages, office space• Workstations and servers• High-bandwidth internet connection• Cloud services• Caltech royalties
Revenue
• Revenue from processing services (subscription, pay per image with volume discount)
Day 1
Day 1• Technology description: Caltech technology to co-register time-series of
satellite and aerial imagery with accuracy better than 1/10 of the image pixel size.
• Initial hypothesis: Basically, everyone in remote sensing SHOULD be interested!
• Customer Segments:– Oil & Gas, Pipeline monitoring– Disaster assessment– Agriculture– Mars imagery processing
• Experiments: – Discussions with NASA, USGS, USDA personnel– Discussions with pipeline consultant
Partners
• Imagery providers (DigitalGlobe)
• USGS/NASA scientists
• University researchers using our free software
Activities• R&D on multi-angle imagery, image fusion/registration• Computing engine dev/testing/releasing?• (web) UI• Dev/admin computing infrastructure • Customizing to customer needs
Value Prop.
Automated and fast service for multi-spectral image registration
problems faced by crop consultants: manual registration, data timeliness, higher resolution harder to register, in-season analysis
Service for 2D or 3D sub-pixel registration of satellite images
Cust. Relations
• “consulting” style
Cust. Segments
• Crop-consulting companies for crop monitoring• vegetable crops = most lucrative• high-end in-season crop monitoring companies are interested, but still need to find good leads at Cargill+ADM•Possible interest from DEA, difficult to find contacts• Defense• NASA: processing of Mars imagery• USGS: damage assessment/earthquakes• Oil and Gas: sand dune risk and pipeline routing
Resources• Scientists / developers• Hardware (cloud?)• High bandwidth network• Patents and company “know how” • User feedbacks/newsletters/blogs
Channels
• Direct sales or via distribution partner• Data exchange via network (ftp)• Data exchange via FedEX for large volume
Costs
• Wages, office space• Workstations and servers• High-bandwidth internet connection• Cloud services• Caltech royalties
Revenue
• Revenue from processing services (subscription, pay per image with volume discount)
Day 2
Day 2
• Not everyone cares!
• Too many market segments. Refocus on agriculture only, drop other customer segments. Agriculture seems to be the most responsive customer segment with strongest feedback.
• New hypothesis: Crop monitoring needs better image registration to extract maps of crop/soil variability over time
• Need to better understand the global remote sensing ecosystem.
• Experiments: – Contacted crop consultant companies– Contacted several branches of USDA and academic agriculture
institutions
Satellite image
providers
Annual revenue
WHERE WE WANT TO BE!
Oil & Gas, Mining
Agriculture
Science Research
Mapping
Insurance
Civil engineering
Exxon Mobile, Shell, BP, Fugro, etc
Crop consultants, farmers, cooperatives, Cargill, Monsanto, GeoSys
RMS, Aon, ABS,
Universities, Research labs
Google Maps, Apple
Parsons, McCarthy
MOST PROMISING FEEDBACK!Therefore, focusing on this for now…
Federalapplications
Military: USAF, USACE, NGA,…
Federal Agencies: USGS, NASA, NOAA, Caltrans,…
40%
60%Annual revenue
Satellite Remote Sensing Ecosystem
Partners
• Imagery providers (DigitalGlobe)
• USGS/NASA scientists
• University researchers using our free software
Activities• R&D on multi-angle imagery, image fusion/registration• Computing engine dev/testing/releasing?• (web) UI• Dev/admin computing infrastructure • Customizing to customer needs
Value Prop.
Problem: manual registration of satellite image before comparison
Value Prop.: - automated- fast- very accurateservice for satellite image registration
Cust. Relations
• “consulting” style
Cust. Segments
U.S. Crop consultantsInternational Crop consultant
USDA(No registration issue (for now!))
Agri. Universities(lack of money, only use Landsat, which has no registration issue)
Resources• Scientists / developers• Hardware (cloud?)• High bandwidth network• Patents and company “know how” • User feedbacks/newsletters/blogs
Channels
• Web access• Data exchange via network (ftp)• Data exchange via FedEX for large volume
Costs
• Wages, office space, workstations and servers• Cloud services• Caltech royalties
Revenue
• Revenue from processing services (subscription, pay per image with volume discount)
Day 3
Day 3-4
• Narrowed focus of customer segment to Precision Agriculture
• New hypothesis: In-season crop monitoring needs better image registration to extract maps of crop/soil variability over time
• Customer segments:– International crop consultants– Insurance, investment banks, commodity funds
• Experiments:– Contacted farmer cooperatives about in-season monitoring– Contacted crop consultants
What we learned: Need is much smaller than expected
USGS delivers free Landsat imagery with decent registration, sufficient for basic crop monitoring
Other satellite imagers are less widespread, due to costs
High-end crop monitoring requires non-Landsat satellites (bad registration)
In-season crop monitoring interest is HUGE
Airborne or ground-based systems compete with satellite imagery for high-end crop monitoring
USDA delivers crop yield statistics but does not provides services to farmers
Contacted a major player for in-season crop monitoring (interested in precise and fast registration of images from non-Landsat)
Provided trial runs on series of images they could not register. Confirmed that our results exceeded all commercial solutions
Strongly interested in subcontracting registration processing to us
Potential revenue $75k-$250k/year need more crop consultant companies
Decision Tools turn Ag Info into Actionables
Precision Agriculture EcosystemData Analysis to Produce Ag Info
from Im Data
Data Preprocess for Quality Assurance
Data Acquisition
Satellite Image Providers:
RapidEyeDMC
Digital GlobeAstrium
SaboteurPartnered Image
Processing:Space Metric
USERSPrecision Ag Consultants:
GeosysSatShotInTime
Farmers EdgeFarmWorks
SST SoftwareZedX
MonsantoSyngenta
RecommendersAgribusiness
Owners
RecommendersFarmers & Farm
Collectives
RecommendersAg Insurance Companies
RecommendersCommodities IB
RecommendersHedge, Equity
Funds
Aerial Image Providers:GeoVantage
Ground-based Sensors Providers
Partners
• Imagery providers (DigitalGlobe)
• USGS/NASA scientists
• University researchers using our free software
Activities• R&D on multi-angle imagery, image fusion/registration• Computing engine dev/testing/releasing?• (web) UI• Dev/admin computing infrastructure • Customizing to customer needs
Value Prop.
Problem: manual registration of satellite image before comparison
Value Prop.: - automated- fast- very accurateservice for satellite image registration
Cust. Relations
• “consulting” style
Cust. Segments
International Crop consultant for farmers
‘Crop forecast’ offices from Insurance/Investment firms
USDAAgri. Universities
Channels
• Web access• Fast data exchange via network (ftp)• Web access• Fast data exchange via network (ftp)
• Data exchange via FedEX for large volume
Resources• Scientists / developers• Hardware (cloud?)• High bandwidth network• Patents and company “know how” • User feedbacks/newsletters/blogs
Costs
• Wages, office space, workstations and servers• Cloud services• Caltech royalties
Revenue
• Revenue from processing services (subscription, pay per image with volume discount)
Day 4
What we learned:
USDA is not a potential client - confirmed
Limitation: too long revisit time of the satellite for in-season. Hardware limitation.
Limitation: lag-time between image analysis results and field decisions. Need better integration with the tools of end-user. ( potential opportunity)
Farmers and cooperatives do not seem to contribute to the largest revenue from satellite that needs correction.
Insurance companies and Investment/hedge funds may contribute to a significant portion of the revenue (WAG)
Performed bandwidth experiment with in-season imagery
Automatic web-based processing is suitable for crop consultants as long as data volume does not exceed more than a few images per day. Otherwise, should use faster bandwidth to insure timely delivery of information to farmers.
Partners
• Imagery providers (DigitalGlobe)
• USGS/NASA scientists
• University researchers using our free software
• USDA
Activities• R&D on multi-angle imagery, image fusion/registration• Computing engine dev/testing/releasing?• (web) UI• Dev/admin computing infrastructure • Customizing to customer needs
Value Prop.
Problem: manual registration of satellite image and spectral analyses of sat im time-series
Value Prop.: - Fast, automated,
accurate satellite image registration and analysis
- More Intuitive Decision Tools
Cust. Relations
• “consulting” style
Cust. Segments
US and International Crop consultants for farmers
‘Crop forecast’ for Insurance/Investment firms
USDAAgri. Universities
Channels
• Web access• Fast data exchange via network (ftp)• Web access• Fast data exchange via network (ftp)
• Data exchange via FedEX for large volume
Resources• Scientists / developers• Hardware (cloud?)• High bandwidth network• Patents and company “know how” • User feedbacks/newsletters/blogs
Costs
• Wages, office space, workstations and servers• Cloud services• Caltech royalties
Revenue
• Revenue from processing services (subscription, pay per image with volume discount)
Day 5
What we learned about Precision Agriculture:• No universal “black box” solutions• NEED better algorithms for:
– Fertilizer rates – Seeding rates – Herbicide rates
• No “cheap” way of getting soil fertility – Intense manual grid sampling – Direct automatic soil sampling
(like AgroBotics AutoProbe) – indirect sampling technologies
(like electrical conductivity) – Remote sensing approaches
(Airborne, satellite, in-field solutions)
• NEED individuals or algorithms who can compile and prepare data from disparate data sources for Variable Rate and Site-Specific Ag
• Direct benefits of Prec. Ag:– Increased efficiency in terms of:
labor hours, crop yields, amounts of chemicals and water needed and applied.
– Long-term spatial recording of operations good for:
Future land/ag management,
litigations, insurance claims, increased farm enterprise
value
What we learned about farmer needs:
• Farmer interest correlated with kind of crop: – Lucrative Vegetable/Fruit Crops >> Grains– Annual Sensitive Crops (Cotton,Tomato) >> Perennials (Vineyards)
• Most farmers WOULD ADOPT satellite crop monitoring if cheaper and higher temporal sampling (comparisons every 2-3 days rather than 2 weeks).
Day 5
• New hypothesis: In-season crop monitoring needs improvements in image registration, spectral analyses and algorithms to turn satellite data into useful decision tools.
• Customer segments:– International crop consultants– Insurance, investment banks, commodity funds
• Experiments:– Contacted crop consultants about in-season monitoring
Some numbers… that don’t add-up!
• Imagery costs between $0 (free low res Landsat) and $0.8/km2
• Farmers can afford up to $1-2/acre/year on imagery for pasture crops (cheapest scenario) with ~2 week sampling equiv $9.5/im/km2!
• Nevertheless: many dedicated agriculture satellites exist Who really uses them? (Hunch: Insurance and Investors)
• Need better knowledge (more customer investigations) of who spends the most on satellite imagery for agriculture
• Essential information to estimate the market potential is missing
Next Steps…
• Customer Development Process with insurance and financial institutions (need more contacts like van Beurden Insurance in CA)
• Cust. Dev. to explore interest/need in Integrated Data/Decision Tools and Long-term Spatial Data Management for Farmers
• Figure out how to get lower cost, more frequent sat images for ag use.
Market Size
• TAM: Precision Agriculture in US: $450M (2010), $1.5B (2017) McKinsey, December, 2011
• SAM: ~50 worldwide (WAG) satellite crop-consultant companies. ~10 in US $250K/yr * 50: $12.5M/yr
• Current Target Market: 10% of SAM, ~ $1.2M/yr Niche Market
• Future trends: Precision agriculture (TAM) growth: 19% annually. McKinsey, December, 2011