New scaling opportunities for European researchers and innovators IRSUS - Innovation Radar Support Services Project Launched
IRSUS will bridge 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. IRSUS will support researchers and innovators through the road to market. Close to 200 promising ICT innovations detected by the Innovation Radar methodology by the European Commission will directly benefit from IRSUS support, to successfully drive their way to markets and to reach commercial exploitation. In line with European Commission efforts to boost innovation, digital single market, IRSUS will also serve as a new knowledge hub to connect research with innovation and industry.
IRSUS consortium will:
1. Introduce business-related elements into the core of the research and innovation (R&I) activities
2. Provide Innovation Radar selected innovations with training and individual/group business support services (acceleration, mentoring, support to licensing). Services will be strengthened with external specialised actors, e.g. business coaches and corporate funds.
3. Connect innovators with already existing public & private initiatives to seize the scaling opportunities 4. Raise awareness on innovations to make an impact on the whole European R&I ecosystem.
The IRSUS project is made up of a consortium of partners that includes experts in innovation (ZABALA Innovation Consulting and Innomine) and entrepreneurship (etVenture Startup Hub), a corporate investment fund (DOCOMO Digital) and a business school (IESE Business School).
"IRSUS project will offer tailored support to innovators in order to turn their research results into marketable products and will bring European research closer to market success".
- Interview with Miguel García, IRSUS coordinator and senior consultant of ZABALA -
What are the characteristics of the European innovation ecosystem?.
All this starts because the results of the R&D projects take time to reach the market and do not arrive. The European Commission has made a reflection to help those projects with marketing potential to reach the market. The Innovation Radar will be published next March and is a guide that highlights the most innovative results of the R&D programs. part of an analysis that is made to each project during its execution by external experts. Subsequently, it is included in a public database so that this information is available to investors, researchers, etc. IRSUS will offer free services based on these results to reach the market or get investment.
What are the main obstacles to reach market or get investment?.
When the methodology was created, the innovators were surveyed to detect barriers to investment. The Commission has identified through several studies bottlenecks: lack of funding, excessive regulation in a fragmented market such as the European,, aspects related to industrial and intellectual property, and in some cases specialized talent very reduced.
What are the services that IRSUS will offer?.
Depending on the level of maturity of the companies, a portfolio of services will be prepared that will help them reach the market, obtain investment or technology transfer from a research center to SMEs. These include training (knowledge pills through on-line platform and on-demand courses), personalized advice (definition of investors 'pitch, free benefits for entrepreneurs' platforms, identification of opportunities for public financing, connection for investors, and even crowdfunding campaigns), as well as partnering and identification of opportunities. For this, they will be invited to participate in the most important events aimed at start-ups in Europe: WebSummit, Slush, etc. Scale-up missions will be organized in the most important Hubs of European entrepreneurship, such as London and Berlin. In addition, the project has a committee of investors from large multinationals and venture capital companies, which will hold meetings to analyze possible investment opportunities.
ZABALA already has experience in accelerating SMEs and startups with projects such as FIWARE FINODEX. What is your analysis of the evolution and potential of these companies in Spain and the rest of Europe?.
We must differentiate the start-ups from of web environment and innovators that may come from R&D projects within the European framework. The technological component of the second is much higher and surely the needs will be different. Spain is one of the countries that get the most funds from European programs, and therefore where we could find more innovators wanting to enhance their results. In some cases the projects are traced by research centers and universities and we must support them so that their results go beyond the laboratory.
ZABALA has extensive experience with technology transfer projects developed in recent years such as ProBIo, ProNANO or acceleration programs such as FIWARE FINODEX, or networks of investors such as INNEON. These projects are aligned with our own internal innovation strategy.
How can the Innovation Radar contribute to the European innovation ecosystem?.
The Innovation Radar is a tool based on data that will facilitate the knowledge about the results of R&D in Europe. As of March, we are confident that its publication and the support of the European Commission through the Startup Europe unit will be a great success in terms of the data opening policy of the EC and in terms of being a facilitating vehicle to Foster the knowledge of investor about what suppose the European R&D.
For more information about IRSUS project please visit www.irsus.eu (coming soon).
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