On the 4th June, Eoghan O’Neill presented the Innovation Radar (IR) during the last IGLO[1] Open meeting. The Innovation Radar is a European Commission platform which allows to identify high potential innovations and innovators in public funded projects. The platform is open to everyone willing to discover the outputs of the innovation funding and gives the chance to seek out innovators. Overall, the aim of the European Commission is to make the outputs of those projects more accessible.
The IR is based on a data-driven methodology to deliver intelligence and the market readiness of the above-mentioned projects. It should be noted that the IR does not assess the project consortium but rather the beneficiaries in a project and the innovations delivered in that project.
The IR method delivers several indicators such as the Market Maturity Indicator. This indicator provides an automatic categorization of the innovations in terms of market maturity and classifies it in four categories as shown in the graph below.
Another indicator, the Market Creation Potential Indicator, provides six levels of market creation potential which has proven very interesting for investors. This indicator is aligned with the European Innovation Council (EIC) goal of focusing on innovations with ´market creation potential´. Even the Horizon Europe legal text refers to the EIC using IR for identifying innovations for the EIC accelerator.
As of today, twenty two countries have signed the Innovation Radar Declaration committing to work with the European Commission to enhance the IR and use it nationally. Together they work on the next developments; it is work in progress.
Currently, the IR has analysed more than 2.500 EU-funded projects resulting in more than 2.500 innovator organisations and 5.450 innovations analysed. The IR can be consulted online www.innoradar.eu or via the Android and iOS applications.
Further information on EC Innovation Radar website
You can also check the previous article from Enterprise Europe Brussels.
[1] Informal Group of RTD Liaison Offices
