Project description DEENESFRITPL Increasing the number of possible applicants and decreasing hiring costs for tech-related companies For the most part, technology companies have celebrated a boom as regards demand for services and products. A decade of success in the sector has provided companies with the opportunity to grow and generate revenue. However, there’s a possible downside. Tech-related industries will face a shortage of workers in the coming years, with the issue of gender and ethnic diversity coming to the forefront as currently there is no way to ensure inclusivity when making job postings. The EU-funded DD-SCAN project aims to reverse this trend. It developed a tool that will help to increase qualified applicants and lower the costs related to hiring tech employees. It will achieve both goals by creating a new standard for developing inclusive corporate content. This solution is currently being tested by organisations in Denmark, Germany, Sweden and the UK. Show the project objective Hide the project objective Objective By 2030, companies in tech-related industries will face a shortage of around 4.3M workers globally, resulting in slow growth and an estimated €450Bn in unrealized revenues. More women and minorities in tech could potentially fill this gap, but they often do not perceive a feeling of belonging from job ads and online corporate content. The problem is, organizations have no way to guarantee inclusivity across their communication channels. The negative impact is two-fold: 1) low profitability compared to organizations with high gender and ethnic diversity and; 2) €1M in extra hiring costs annually compared to other industries. DD-SCAN is the World’s first software tool that automatically neutralizes social biases across an organization’s online content – website text, images, social media and job ads. Thanks to our proprietary Machine Learning algorithms and datasets, DD-SCAN overcomes the known problems and has already been shown to increase 1) the number of qualified applicants significantly by 175% and 2) eliminating all extra hiring costs associated with tech employees. It will create a new standard for developing inclusive corporate content by providing an effective, convenient and affordable solution. Our current version is being used by 73+ tech-related organizations in Denmark, Germany, Sweden, and UK. The objective of this Phase 1 project is to lay the foundation for scaling up our innovation to reach TRL9 and launch in Europe in 2022, build a profitable business, reduce the cost of recruitment and enable millions of applicants to find the right career fit. The business opportunity is huge. Our Serviceable Addressable Market is €21.7Bn and will reach €27.4Bn by 2024, at a CAGR of 6%. By introducing a far superior technology via a scalable subscription-based business model, we expect rapid uptake and a market share of 0.11%, a turnover of €32.6M EBITDA of €26.9M and a headcount of 83 employees by 2024. Fields of science natural sciencescomputer and information sciencessoftwaresocial scienceseconomics and businessbusiness and managementbusiness modelsnatural sciencescomputer and information sciencesartificial intelligencemachine learning Programme(s) H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs Main Programme H2020-EU.3. - PRIORITY 'Societal challenges H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies Topic(s) EIC-SMEInst-2018-2020 - SME instrument Call for proposal H2020-EIC-SMEInst-2018-2020 See other projects for this call Sub call H2020-SMEInst-2018-2020-1 Funding Scheme SME-1 - SME instrument phase 1 Coordinator DEVELOP DIVERSE APS Net EU contribution € 50 000,00 Address Vesterbrogade 149 1620 Kobenhavn Denmark See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Danmark Hovedstaden Byen København Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 21 429,00
