Project description
Crowdsourcing for innovative ideas
Markets are growing and mutating so rapidly that advanced methods currently in use are not always as quick to adapt. At the same time, companies are searching for innovative ideas as well as products to rise above the competition. Crowdsourcing services permit companies to gather information from customers and then carry out the work faster than a single employee. The EU-funded PhantoMinds project proposes a crowdsourcing platform that offers SMEs and large companies a new approach for open, digital and interactive advanced procedures. The platform will support SMEs to use views, abilities and knowledge from the creative community, experts and clients to produce and develop innovative ideas.
Objective
"70-90 percent innovatin flops- The avoidable bad investments of 10 billion euros a year! This is highly related by the
innovation methods in use which are not able to deal with the fast-changing markets nowadays. In the innovation race
between countries and companies, the biggest challenge for companies is to build and identify executable ideas and
innovations, especially ideas and new products their customers want and buy.
PHANTOMINDS is a start-up from Hamburg, which was founded with the goal to become the No. 1 crowdsourcing provider
for collaborative innovation development in Europe. We focus on the needs of companies to respond more flexibly and
quickly to changing markets and conditions. PhantoMinds offers companies an open, digital and iterative innovation process
via a crowdsourcing approach to SMEs and large companies. By doing so, PhantoMinds enables SMEs to use the
crowdsourcing community platform to develop ideas and innovations by using the perspectives, expertise and knowledge
from the creative community and/or in combination with external experts and the company’s clients.We have already
designed and implemented a new module as a ""big data"" solution named ""open innovator/lead user internet screening for
companies"" on twitter, facebook and linkedin.
The key market of our solution is the market for Innovation Management. This market with a volume of 379 M€ in 2017 is developing extremely rapid with a CAGR (2017-2022) of 29%. Our goal is to achieve a mar-ket share of approximately 10% in Europe within the next 5 years, which is about 8,7M€."
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
- social sciences economics and business business and management innovation management
- natural sciences computer and information sciences data science big data
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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.
20457 Hamburg
Germany
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.