Social challenges
ALTfinator
The objective of ALTfinator is to facilitate and improve innovative SMEs Access to alternative finance.
The aim of the project is to create a federation of reference in Europe for cross-border Big Data experimentation and innovation. It aims to provide a comprehensive pan-European catalogue of data sources and services to foster data-driven innovation at local and regional levels.
CHALLENGE
The importance and impact that data has on the European economy, industry and society today is unquestionable. According to the European Data Market Surveillance Instrument, (i) data products and services have a high penetration in the national economy, thus growing the benefits derived from their use and the introduction of innovation, (ii) companies adopting data products and services have higher profits than companies in other countries, (iii) the introduction and diffusion of new technologies – such as data technologies – is likely to have immediate and considerable effects on economies that are relatively new in the adoption of innovation.
SOLUTION
EUHubs4Data will create a European federation of Big Data digital innovation hubs. Based on the premise “global catalogue, local offer,” it will ensure that SMEs and start-ups have access, in their respective regional ecosystems, to a global catalogue of data sources and federated data-driven services. Thus, the latest advances in data analytics and advanced Big Data assets will be accessible to companies across Europe. The aim is to break down data silos, fostering collaborations between members, federating services on a cross-border basis, and supporting local and regional industry in data-driven innovation.
RESULTS
The EUHubs4Data project federates big data companies, leveraging existing initiatives and merges them into an integrated ecosystem to stimulate greater participation of European SMEs and start-ups in the data economy. By providing easy, cross-border access to data, facilitating sharing and assisting them with skills, tools and support, new innovative data-driven solutions and business models will be developed to match users’ needs, thus improving their digital competitiveness and end-user satisfaction.
