Project description
The future of engineering goes digital
Engineers are going digital, increasingly using advanced technologies to create designs, simulations and 3D models. Keeping up with the latest trends is proving essential in the planning and execution environment. The EU-funded Insight project aims to add value to digital engineering tools (project management, product data management and product lifecycle management) to allow companies to automatically monitor, analyse and learn from the evolving structure and content of their digital files. It will develop a cloud-based suite of modules, disrupting the market of cloud computing and artificial intelligence (AI). The project will be introduced to markets inside and outside the EU.
Objective
The goal of this innovation project is to add value to digital engineering tools - inc. project management, product data management (PDM) and product lifecycle management (PLM) - by applying Net AI and providing a solution that allows companies to automatically monitor, analyse and learn from the evolving structure and content of their digital files. The product is referred to herein as Insight. Through the provision of an affordable solution that integrates market disrupting technologies of cloud computing and Artificial Intelligence combined with first-to-market capability, we aim to establish a market leading position for the monitoring and improved management of engineering and construction projects. The objectives of the overall innovation project are: 1) conduct a feasibility study focusing on technical and market knowledge acquisition supported by robust assessment of financial feasibility; 2) develop Insight - a cloud-based suite of modules built on our evolving intellectual property of Net AI; 3) bring Insight to a robust minimum viable product; 4) introduce Insight to the EU and global markets; 5) demonstrate effectiveness and cost-savings through achievement of €10M sales by 2023; and 6) leverage successful EU commercialisation to achieve €20M revenue by 2026.
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.
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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.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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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
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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-EIC-SMEInst-2018-2020
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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.
BA1 3RU Bath
United Kingdom
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.