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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - IRSUS (Innovation Radar Support Services)

Teaser

Summary

Promising ICT project results obtained in the course of publicly funded research and innovation projects are expected to lead to innovative solutions in a range of domains like Energy, Life Sciences, Health, Ambient Intelligence, Transport, Industry 4.0, SmartCities, etc. However, most of results are early stage disruptive innovations from technology and/or applications point of view. If their potential economic impact is attractive, they face challenges before reaching any commercial exploitation and require specialised support.
The European Commission has put in place an outsanding tool, the Innovation Radar, to adequately spot those innovations showing a real potential in the market.

IRSUS (Innovation Radar Support Services) project is bridging the gaps faced by innovators (research teams, SMEs, spinoffs & start-ups) to reach the market with a feasible, viable and attractive business case and strategy for users, clients, partners and investors. To achieve this overall goal we are working on five clear lines of action:
â€¢ Identify high potential innovations
â€¢ Offer personalised services to innovators to leverage the value of innovations and reach maturity for further investment.
â€¢ Support investors to understand the potential of innovations and motivate investments.
â€¢ To Increase public awareness & recognition of ICT innovations.
â€¢ Optimize joint value of EU and national funding to turn R&I into commercially viable innovations.

Work performed

IRSUS project is facilitating the journey from the lab to the market to those innovations spotted on the Innovation Radar through the provision of free business services to a range of organisations listed on the IR. During the course of the first year of the project, IRSUS has been able to attract 106 candidates to our services; out of which 77 have been finally included as active members of IRSUS Portfolio of Innovators.

IRSUS has developed a unique semi-automatized methodology to categorize the innovators among three levels: gold, silver and bronze according to their capacity and willingness to take their innovations sucessfully into the market. Each of the categories brings a defined set of free services for the innovators. During this first year of the project, IRSUS has been able to deliver already a good number of services such as
- Online webinars in a range of topics like public funding, pitching, user experience, financial modelling, investment, IPR etc.
- Knowledge pills including offline contents like videos and presentations
- Personalised analysis of SME Instrument or FTI proposals.
- Networking activities among entrepreneurs.
- Assistance in the ellaboration of pitch decks to investors.
- Preparation of individual coaching plans.
- B2B introductions.
- Personalised mentoring sessions in different topics.
- Financial support attending major events.

Moreover, IRSUS has collaborated with the European Commission in organising the Innovation Radar Prize during ICT 2018 event in Vienna. Within the process of gathering insights of the existing innovators and innovators within the IR tool, the consortium has provided constant feedback to the EC about the tool, the functionalities and potential areas of improvement.

Final results

During the second year of the project, IRSUS will be focused on the delivery of the services to our Portfolio of Innovators. The services during the second year will be more targeted to individual needs and will include activities oriented to fundraising, networking and leveraging the community already built during the first year of execution. At the same time we will keep on progressing the collaboration with the European Commission IR team to improve the tool and attract more innovators into the loop.