REACH

REACH’s goal is to launch Europe-wide second-generation data-driven incubators for start-ups and SMEs to develop innovative experiments through the use of data value chains.

CHALLENGE

Today, there is a widespread lack of awareness on the benefits of data-driven innovation, especially among SMEs.
Large online consumer platforms have demonstrated that data is an asset that translates directly into value, and this value can be multiplied by merging data shared among stakeholders into a value chain. However, the value created, made possible by the data economy, only benefits organisations in the GAFAM empire today, particularly in B2C scenarios. Greater awareness of successful business cases would drive this uptake.

SOLUTION

REACH aims to accelerate data-driven innovation in Europe, its main objective being to launch across Europe the second generation of sustainable incubators for data-driven start-ups and SMEs. The project will host more than 100 SME business ideas and select among them 30 solid business cases based on data-driven innovation with the aim of bringing new data-driven products and services to market, leveraging the capabilities of Europe’s best IHLs. The ultimate goal is to demonstrate that data silos can be broken by enabling a multi-sector multi-stakeholder incubator to drive sustainable data-driven solutions.

RESULTS

REACH will support the creation of new data-driven products and services, drive the development of strong businesses, foster revenue growth and promote access to new funding streams by offering a full-service package consisting of training and technology experts, datasets, technology blocks for secure and reliable data value chains, IT infrastructure, training and coaches for business development and non-repayable funding of up to €120,000.