The work performed in the framework of InnoRate kicked-off with an in-depth analysis of the state-of-play of existing technology assessment and rating methodologies, tools, and services, with a view to setting the stage for the demand-driven design of the InnoRate platform and services. A series of semi-structured interviews with 35 stakeholders (i.e. private investors, innovation intermediaries, technology transfer offices) backed by an online survey that addressed almost 100 respondents shed ample light on the needs and requirements of InnoRate’s platform prospective users, whereas the development of an inventory of available data sources fuelled the data needs of InnoRate’s methodologies and services. Building on the findings of these activities, InnoRate involved 39 experts in the co-design of the InnoRate platform, methodology, pilot use cases, and sectors of focus during a dedicated co-creation workshop. The meaningful ideas collected during the workshop served as the starting point for the demand-driven development of the services and tools of InnoRate.
Leveraging the insight of InnoRate’s preparatory phase, the KOTEC Technology Rating System (KTRS) was successfully transferred into the European context, leading to the development of the final InnoRate Technology Rating System (ITRS) methodology with 38 indicators in total. The ITRS indicators address 4 business perspectives of a company (Management, Technology competency, Marketability, and Business feasibility) and are comprised of two distinct but interrelated phases namely, the Pre-Screening phase -which is fully automated- and the Deep Assessment phase – where human technology experts enter the equation to assess innovative ventures.
At the same time, the final version of the InnoRate platform has been developed by the project – an online tool that digitised the ITRS, offering technology assessment and rating services to users. The InnoRate platform (both the initial and final version) was pilot tested under two iterative pilot rounds with a view to validating its services, as well as the ITRS methodology under real operational environments in 5 diverse use cases. In parallel, the pilot phase was supported by a series of investment readiness and matchmaking events, in the form of online workshops and webinars, which prepared innovators at building their pitching skills and have helped them to engage with relevant investors.
Along the way, a series of preparatory actions paved the way for the post-project rollout of InnoRate’s exploitable results, focusing mostly on the ITRS and the platform. A careful analysis of the market for technology assessment and rating services has been performed to reveal insights into the target market and future operational environment of the InnoRate platform, leading to the co-development of 3 alternative business models. Based on these commercially viable business models a dedicated plan for the deployment of a potential venture for InnoRate was elaborated, to ensure its sustainable operation of the project beyond its end, also offering the exploitation routes of the partners regarding the developed results. On top of that, a detailed innovation and IPR management strategy was laid down to define the management processes for the protection of the project’s IP and set the main components of the relevant methodology that was applied throughout the project.
Finally, strategies for stakeholder engagement and communication were set in place and guided the respective activities of the project. InnoRate has developed well-tailored promotional material, set-up its Advisory Board, established an online footprint through its web portal and social media pages, issued informative newsletters and blog posts, and created mutually beneficial synergies with complementary initiatives.
