Tag ‘digital innovation’
With a good idea, some investment and hard work, start-ups in the health and life sciences fields can get started in their local market. But if these firms are going to achieve meaningful growth, and if their innovations are going to benefit a wider audience, they will have to go abroad – which means understanding new regulations, a different culture and an unknown set of market realities.
This is where Product/Market Fit comes in. An EIT Health Accelerator programme, Product/Market Fit helps start-ups that have already established themselves in one market and are ready to expand beyond their borders. The support this programme offers has an estimated market value of EUR 25 000, but the opportunities it provides can be worth much more than that.
“Based on our experience in the Accelerator, grownup start-ups start needing support with going to other markets,” according to Katrien Van Gucht, a Co-Coordinator of the EIT Health Accelerator Strategy and Digital Health Program Manager at EIT Health partner IMEC. “We wanted to get in that sweet spot, right when they are ready to expand,’ said Johnny Waterschoot, who project manages European open calls for IMEC. “We are looking for companies that are ready to go beyond their borders, but lack the necessary funding to do just that. This programme will help them decide what markets to address next.”
According to Van Gucht, companies that are mature enough to qualify for this programme have typically raised about EUR 500 000 in investment and generally consist of two or three people. She said the companies obtain great value from the market testing that the programme can do. “The trial and error ratio of going out and seeing for themselves if they can make it in another market, we reduce this a great deal for them. They will see if they still need some work before they start growing in that market. Or the outcome could be that this market is not for them.”
If the entrepreneurs have the passion and drive to expand, the Product/Market Fit programme can provide them with many of the other tools they need.
Interested in finding out how to apply? Read more about the process here.
For more information: https://eit.europa.eu
Digital innovation has led to several technological advances, born in the minds of innovative entrepreneurs who go on to bring their ideas to life. With an increasing number of us online, both socially and professionally, cybersecurity is an issue that affects us all, consumers and entrepreneurs alike. How can you protect yourself? What information do you need to safely reap the benefits of our digitally innovative world? Today, Promoting Enterprise looks into the development of fraud detection systems, accessible cybersecurity and remote incident response platforms.
The tendency for people to be creatures of habit is being put to good use in the cybersecurity industry, thanks to new identification software that uses typical login times and locations, keystroke dynamics and in-app behaviour to verify if someone is who they say they are. It’s one of a series of innovations being developed by European businesses keen to claim their share of a growing cybersecurity market. Analysts predict that global spending in cybersecurity will be well over EUR 100 billion a year by 2021, yet according to a 2016 report despite being the most trusted area globally when it comes to data security and privacy, the European industry is only growing 6% annually, compared to growth of 8 % for the market as a whole.
One of the aims of the European Cyber Security Organisation (ECSO) – the association implementing a cybersecurity public-private partnership set up by the EU in 2016 – is to create connections between industry players, national public authorities and users of cybersecurity solutions to identify priorities and increase collaboration in research and innovation. That connection – particularly between providers and end-users – is crucial if Europe is to grow the industry and take its place in the market. European businesses such as Czech-based cybersecurity firm ThreatMark (advanced fraud-detection systems developer) and German cybersecurity company Applied Security (apsec), could benefit from this connection which could manifest as business-to-business platforms and direct interactions between SMEs and potential clients.
With the development of the cybersecurity industry, there are still three areas to be addressed:
- Cybersecurity tools need to be considered as integral parts of computer systems. EU funded projects like CyberWiz, where users set up a model IT network and carry out various kinds of simulated attacks, allow for system development whilst exposing weak points and giving an overview of the network security.
- Skilled technical experts are important for the overall success of the industry, but especially in the small- and medium-sized sector. According to chief executive of Secon Cyber Security UK Robert Gupta, ‘In general, there is a lack of the right skills and when you are recruiting, technical experts in cybersecurity are very hard to come by’.
- The costs of implementing cybersecurity. Between the costly search for experts, their employment and the implementation and upkeep of a security system, many smaller businesses simply cannot afford this integral part of their online presence. However, EU funded project ConnectProtect could be the answer; a remote incident-response platform helping small- and medium-sized businesses to combat attacks and security threats – at a more reasonable cost. Through such a system and economies of scale for cybersecurity software licences, the total cost of security could come down dramatically for small businesses – perhaps by as much as 75 % per member of staff.
For more information: https://horizon-magazine.eu
Digital innovation is a key theme for this year’s SME Assembly 2017 taking place in Estonia, so stay tuned for more digital innovation content right here on Promoting Enterprise.
If you liked this have a read of: 2017 and beyond: How digital innovation will impact the world
The SME Assembly is the most significant event for small and medium-sized enterprises (SMEs) in Europe, and gathers the best and most inspiring ideas with the potential to change the world for the better, from across the 28 Member States. The conference takes place once a year during the European SME Week. Together with the network of SME Envoys, the assembly creates the governance structure of the Small Business Act.
The 2017 edition of the SME Assembly will take place from 22 – 24 November 2017 in Tallinn, during and in cooperation with the Estonian Presidency of the Council of the European Union. It will be the main event of European SME Week 2017. The opening ceremony will take place at the Seaplane Harbour Museum and the assembly itself at Kultuurikatel.
The Assembly focuses on how to make SME policy work in the everyday European context, in order for Europe’s SMEs to really thrive. In this, the sixth year of the SME Assembly, the programme will again include:
- the Schumpeter ‘Innovation in Enterprise’ lecture, which will be held at the House of Blackheads;
- the 11th European Enterprise Promotion Awards ceremony;
- keynote speeches from high-level politicians and dignitaries;
- interactive sessions where participants get an opportunity to drive the policy agenda;
- practical masterclasses and boot camps;
- and an interactive expo to promote start-ups and scale-ups and those that support them.
There will also be the Ideas from Europe semi-finale, which will showcase the conclusion of a member state wide competition to find the ‘Top 10’ ideas from visionary entrepreneurs across Europe.
Entry to the SME Assembly and European Enterprise Promotion Awards is by personal invitation from the European Commission only. If you would like to register your interest, please contact: firstname.lastname@example.org.
So prepare yourselves to ‘Start. Scale. Spread your wings’, like the iconic barn swallows of Estonia, and follow us on the journey to Tallinn!
In order to keep up with updates, deadlines and news about the SME Assembly 2017, and the European Enterprise Promotion Awards, make sure to follow all the different social media and information channels:
YouTube: Promoting Enterprise
Digital innovation, one of the themes of the SME Assembly 2017, is by far the biggest influencer, changing the way we do just about everything, from shopping to communication to running a business. Recently Gartner, Inc., revealed its top predictions for IT organisations and users for 2017 and beyond, focusing on three fundamental effects of continued digital innovation: experience and engagement, business innovation, and the secondary effects that result from increased digital capabilities.
- Augmented Reality
- By 2020, 100 million consumers will shop in augmented reality.
- Web Browsing
- By 2020, 30 percent of web browsing sessions will be done without a screen.
- Mobile App Abandonment
- By 2019, 20 percent of brands will abandon their mobile apps.
- Knowledge Algorithms
- By 2020, algorithms will positively alter the behavior of more than 1 billion global workers.
- Blockchain Technology
- By 2022, a blockchain-based business will be worth $10 billion.
- Digital Giants
- By 2021, 20 percent of all activities an individual engages in will involve at least one of the top-seven digital giants.
- Digital Innovation Costs
- Through 2019, every $1 enterprises invest in innovation will require an additional $7 in core execution.
- Internet of Things Data Demands
- Through 2020, Internet of Things will increase data center storage demand by less than 3 percent.
- Internet of Things Savings
- By 2022, Internet of Things will save consumers and businesses $1 trillion a year in maintenance, services and consumables.
- Health Care Costs
- By 2020, 40 percent of employees can cut their health care costs by wearing a fitness tracker.
Interested in Digital Innovation? Curious about what lies in store for 2017 and beyond? Find out more about the predictions and where digital innovation is set to take us in 2017…
Established in 1983, Studio Moda Rossella is the only fashion school in Italy that enables students to use technology to digitally design garments. Promoting ‘blended learning,’ the school’s teaching methods alternate between on-campus attendance and interactive distance learning. Using CAD software, students are able to fully conceive and complete 2D and 3D fashion projects on their screens.
By combining digital innovation with theory and passion, the ‘Rossella Method’ prepares its students to embark on successful careers in fashion companies around the world.