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I3 Impact Innovate Invest

Periodic Reporting for period 1 - I3 (I3 Impact Innovate Invest)

Reporting period: 2016-01-01 to 2016-12-31

Impact Innovation Invest (i3) is a 30-month Coordination and Support Action and is dedicated to bridge the gap between research and innovation. Our primary objective is to develop an integrated approach from research and innovation to market deployment in the domain of Convergence and Social Media. It is tasked with promoting a closer relation between researchers and entrepreneurs by providing mentorship and tutorship so supporting researchers while facilitating access to business angels and investors. In addition, i3 seeks to connect researchers with corporations, institutions and media in order to help them in accessing the market and scaling internationally within the EU, through selected events and exploitation activities. In this view, it is therefore important to identify emerging promising solutions and their feasibility in the convergence and social media sectors within the European research ecosystem.
In executing our task i3 develops and deploys the following mechanisms:
1)Support a better understanding of the innovation and business-oriented process that can spin out from the digital media unit projects researchers and developers.
2)Educate and coach the entrepreneurs, organising workshops, networking and brokerage events to bridge the gap between project results and the access to market, to include incubators, accelerators, Venture Capitalists, and let them talk with enterprises especially SMEs who have innovative ICT results to be launched in the market.
3)Use the Living Lab facilities and methodologies to validate and improve technology development and user acceptance
4)Support the Convergence and Social Media projects to: increase the socio-economic potential value of technologies and develop business models for commercialization; reduce the time of deployment of research results; open Convergence and Social Media research to a new range of actors; support the projects to create synergies with other initiatives at international level; and, support innovative entrepreneurship and commercial exploitation
5)Recruit a large base of policy makers, organizations, networks, and investment programs that already operate in the areas of digital media and creativity business incubation, service design and knowledge management.
6)Develop Research and Innovation agendas and roadmaps to guide involved small enterprises towards a better positioning in the market and consequently boost the European economic growth.
In doing so, i3 is working towards its main goal in coordinating efforts in the social media convergence domain by addressing how research efforts can increase outreach, improve connection within the ecosystem and raising the excellence of Convergence and Social media research outcomes.
During the first year of the project, the i3 consortium has been working towards several key activities. These are the development of:
• a quali-quantitative methodology
• a Self Assessment Toolkit (SAT) for impact maximization and business model design;
• an engagement and stakeholder strategy;
• a particular dissemination strategy, that also underpins the i3 Academy via masterclasses/workshops.
i3’s methodological framework: The i3 methodology is grounded on the Cost Benefits Analysis, Multi-Criteria analysis and the Innovation Radar describing impacts measurable in non/monetary terms. Given the aims of the i3 project, the methodology also includes aspects related to the capability of building sustainable business models and the innovation capacity of projects by adapting the features of the Business Model Canvas and the Innovation Radar. The i3 methodology, in conjunction with the online toolkit (developed based on this methodology), aims at supporting ICT-19 projects to self-assess their impacts and outcomes.
Self-assessment toolkit: The SAT is a semi-automatic online instrument supporting the ICT-19 projects in performing the self-assessment of their social, economic and technological impacts. By following a list of questions guiding their (self-) assessment, projects can understand not only the performance of the whole project, but its outcome in particular. The SAT provides a general report that demonstrates the obtained results regarding social, economic and technological impacts and Business Model Canvas report.
Stakeholder and Engagement strategies: Our approach for stakeholder engagement is mainly based on the need to have a heterogeneous group of actors involved in our activities. In particular i3 organises different events according to the typology of stakeholder (e.g investors meetings are directed to start-ups; policy dialogue activity to a wide range of actors and policy makers; workshops and masterclass to ao ICT 19 projects). During the first year, i3 has organised events about the self-assessment toolkit, design research/living labs, creative thinking and business models and value proposition.
Investor Attraction and Policy Dialogue: i3 has the objective to accelerate research ideas to market and to attract investors. An event was organized presenting stakeholders with the opportunity to present their pitches to an investor and a business coach. Also, based on survey research topics were identified to include in our policy dialogue.
Dissemination activities: In promoting i3 activities a tailored strategy has been developed and a cooperation with Vital Media project was set-up for spreading dissemination of results of social media and convergence projects and organising events.
i3 has the potential to improve the innovation capacity of European R&D results and helping startups launch providing new opportunities for the innovation in the real economy. In addition, in a wider sense, i3’s ecosystem is likely to improve the competitiveness of European enterprises, also with the use of the online platform through which entrepreneurs may benefit from economies of scale and such an increased access also supports access to funding distribution channels and alliances with complementary products and services. From a social impact perspective, i3 may contribute to the model of an inclusive and cohesive “information society for all”. The proposed set of action, the assessment tools, the Living Lab and the platform will provide access to the resources required for the primary stage of development of business ideas until the feasibility of each initiatives is determined. i3 is also set to stimulate new activities leading to job creation as it covers all stages of entrepreneurial activity from the initial decision to the set up of a business and tuning it into a viable venture through a business plan development, technology testing and investors access.
However, at the end of the project, it will be better possible to map and trace impacts on several areas achieved by the i3 project. Likely impacts obtained thus far, include positive feedback from the participants about the interest in the chosen topics via the (i3 Academy) workshops and masterclasses, as well as about the utilisation of the Self-Assessment Toolkit. Regarding the next steps, the main focus will be run all parallel activities ensuring a high quality of the events as well as a good participation from the external parties. For example, to work together with stakeholders in the defining topics to be promoted to the European institutions and the organisation of targeted investor meetings. Against this backdrop, we are eager to look forward to continue and expand our i3 activities.