Objective
Thanks to ThingSight, manufacturing SMEs will be able to anticipate and avoid equipment failures by embedding a predictive maintenance solution within their products. ThingSight is an Internet of Things (IoT) Analytics system which generates and collects data from machinery and provides a flexible, scalable and easy-to-use analytics tool to help manufacturers in their daily machinery support and maintenance activities. This disruptive innovation provides important benefits for manufacturing SMEs: reduced equipment downtime (40%-60%) increased effective manpower utilization (75%-80%), increased production capacity (15%-40% for the short term, and 75%-80% for the long term), reduced labour and material costs (35%-60%) and increased machinery operating lifetime (33%-60%). ThingSight is particularly targeted at European SMEs (manufacturers and maintenance providers) which cannot afford the implementation of ad-hoc IoT systems. While existing alternatives are costly and require a high investment, the innovation of ThingSight primarily comes from our successful pay-as-you-grow model based on the number of devices. In Phase 1 we will conduct a research on the optimal algorithms and techniques for descriptive analysis, advanced analysis and machine learning. Additionally, we will select potential technological partners for the project. We will also develop a Business Plan to analyse the economic viability of ThingSight and prepare a detailed Financial Plan. ThingSight will contribute to the overall EU’s industrial growth strategy by providing advanced IoT tools to help manufacturing and maintenance companies to become more resource-efficient, by reducing machinery maintenance costs and increasing equipment lifetime operation.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet internet of things
- natural sciences computer and information sciences data science big data
- social sciences economics and business business and management business models
- social sciences economics and business business and management employment
- natural sciences computer and information sciences artificial intelligence machine learning
You need to log in or register to use this function
We are sorry... an unexpected error occurred during execution.
You need to be authenticated. Your session might have expired.
Thank you for your feedback. You will soon receive an email to confirm the submission. If you have selected to be notified about the reporting status, you will also be contacted when the reporting status will change.
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
-
H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
MAIN PROGRAMME
See all projects funded under this programme -
H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
See all projects funded under this programme
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
See all projects funded under this funding scheme
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-SMEInst-2016-2017
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
28037 MADRID
Spain
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.