Clearing House for Knowledge Options (CHoKO) - creating a marketplace for knowledge

Project Information

CHoKO

Grant agreement ID: 698795

DOI

10.3030/698795

Project closed

EC signature date 1 September 2015

Start date 1 September 2015

End date 29 February 2016

Funded under

• SOCIETAL CHALLENGES - Europe In A Changing World - Inclusive, Innovative And Reflective Societies

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

KNOWLIAH NV
Belgium

Periodic Reporting for period 1 - CHoKO (Clearing House for Knowledge Options (CHoKO) - creating a marketplace for knowledge)

Reporting period: 2015-09-01 to 2016-02-29

Summary of the context and overall objectives of the project

Context: There are currently no pricing mechanisms that reflect the real value of knowledge. As a result, the buying and selling of knowledge remains fundamentally flawed and hampered: Companies/individuals who sell knowledge (incl. trainers & consultants, hospitals, law firms, etc. …) and all knowledge workers in employment presently sell their time at a fixed rate reflecting past education and experience.
Because of the extreme context-dependent nature of knowledge, its true value - and therefore its price - can and should only be determined when actually used, generally sometime after development or transfer! Both production and use of knowledge must be tracked and accounted for, incl. revenues it helps generate.

Opportunity: Operate a global online platform that tracks the production and use of knowledge so as to determine the real value of knowledge and hence provide a fair reward to its producers. This platform, called Knowliah Community (previously referred to as CHoKO, using the project's acronym), offers tangible incentives for creativity and innovation, and for sharing ideas with others in the expectation that they may turn them into revenues.

Our objective: Put Knowliah Community on the global map as the first online marketplace where knowledge is traded by in particular individuals and SME's, based on a novel method for determining its value that eliminates information asymmetries, all but eliminates IPR-related costs, and yet offers fair rewards and incentives for creativity and innovation.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The Phase I Feasibility Study included

 - two pilots for testing assumptions regarding rate & speed of adoption towards achieving critical mass
 - research into early adopter market segments and related USP's,
 - the identification of key commercialisation partners,
 - drafting user agreements (Terms & Conditions, Platform Rules, and Code of Conduct)
 - drafting a comprehensive Business Plan for international roll-out

The Feasibility Study revealed that economic critical mass is not a priority, while domain critical mass can be achieved more quickly than previously assumed.
Market research and external B2C online marketing advice has bolstered confidence in our ability to meet and exceed our projections of market penetration.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Technology related: experts can create and maintain multiple profiles (one per knowledge domain) instead of having only one single expert profile (across all domains)
Business related: our business model relies on/is driven by ethics and fairness (fair payment in return for the value received)

Potential impacts

- Knowliah Community will activate the knowledge economy,
− by creating knowledge-based relationships and exchanges worth hundreds of million euros
− initiating innovation and co-creation
− strengthening Europe as a knowledge-centric region

- Knowliah Community also improves the work-life balance since
− it reduces time spent on reading while keeping your expertise up to date
− it provides access to trusted people and reliable content
− it shows respect for everyone’s expertise and contributions

In pursuit of our objective to create a marketplace for knowledge, our more immediate goal is to get people used to openly sharing knowledge, and giving/getting credit in return. This supports several H2020 Programme topics including innovation support to SMEs and Open Disruptive Innovation, but in particular the recently added topic Recognition of Silver Economy Opportunities: Many 60-plussers want to remain active in their field of expertise even after retirement - but do not find the opportunities to do so. Knowliah Community offers precisely that opportunity, to be active in however many different knowledge domains where one has experience & expertise, earning credit and recognition in return.

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