| Project Detail |
Advanced technology rating system to evaluate innovations
The European innovation ecosystem can benefit from technologies that can help detect the risks associated with high-potential projects to allocate the necessary resources. For this, innovative and accurate rating tools are urgently needed. The EU-funded InnoTechRate project will adapt 100 % data-driven and AI-powered technology rating tools, already developed by The Innovation Loop, and embed them on a digital platform. The innovative tools will reduce information asymmetry and cognitive biases between innovators and private and public funders in evaluating innovations. InnoTechRate will design this digital platform as a hub, linking project holders, investors, intermediary organisations and experts. This will allow project beneficiaries to perform a technology rating of innovation projects easily and rapidly.
The InnoTechRate project aims at reducing information asymmetry and cognitive biases between innovators and private and public funders on the evaluation of innovations. This will strengthen the capacity of the European innovation ecosystem to support innovative deeptech start-ups, through a better identification of high potential projects in relation to risks, and allocation of resources to highly innovative projects.
In this perspective, the InnoTechRate project will adapt technology rating tools already developed by The Innovation Loop and embed them on a digital platform. This digital platform will be designed as a hub, linking project holders, investors, intermediary organisations and experts. This platform will allow project holders and investors to perform a technology rating of innovation projects in a simple and fast way.
The technology rating system will be 100% data driven and will be powered by artificial intelligence. This will allow the objectiveness in the collection, the checking and the analysis of all data related to innovation projects. A link to traditional financial rating will be explored. A free and on-line version of technology rating tools will be made available.
The InnoTechRate project will also develop a reference framework for the technology rating of innovation projects based on a consensus of European stakeholders and integrating the European societal and environmental challenges. This common reference framework should be common for project holders and investors. It holds the ambition to become an accepted standard and norm within the European innovation ecosystem. |
