What is the Innovation Radar?
The Innovation Radar is the European Commission’s data-driven method focused on the identification of high potential innovations and the key innovators behind them in EU-funded Research and Innovation projects. It is based on a methodology developed by the Joint Research Centre. The data gathered by this method is used to categorise EU-funded innovations in terms of market maturity and disruptive potential, based on indicator systems developed by the Joint Research Centre. It supports innovators by suggesting a range of targeted actions to assist them in fulfilling their potential in the market.
It not only gathers data sets about innovative potential but also ensures that, during their project lifespan, EU-funded researchers and innovators get expert advice about the most appropriate steps to reach the market with their innovation.
Linking with investors
Innovation Radar has the goal of creating a steady flow of promising tech companies that can scale up into future industrial champions. It is supported in this by the EU-funded project Innodec, that is bridging investors with the investment opportunities presented by results emerging from the EU’s Horizon 2020 research and innovation programme.
Innovation Radar data will also underpin new ‘tech due-diligence’ centres around Europe that will be introduced as part of the SME strategy (.pdf) of the European Commission (as launched on 10 March 2020 by Thierry Breton, Commissioner for the Internal Market). This initiative will see the Commission co-fund a pilot to launch several ‘tech due diligence’ centres that will offer service that allow for more precise valuation of European high-tech start-ups and later stage tech SMEs on the basis of their technology and IP portfolio.
The Innovation Radar Platform
On 10 April 2018 at the Digital Day in Brussels, the Commission launched an Innovation Radar data-driven online tool that makes information about EU-funded innovations publicly available. The Innovation Radar platform is also available as a smartphone app (iOS and Android).
The Innovation Radar Prize
Using the radar, the best EU-funded innovators are identified to compete with their EU-funded innovation for the annual Innovation Radar Prize. The 2019 Innovation Radar Prize was won by SUPSI from Switzerland for their lead role in developing novel robotic tech capable of executing repair tasks in harsh industrial environments which was subsequently featured on euronews.
The Innovation Radar and Member States
EU Member States have recognised the value and need for such a tool and, to date, Ministers from 23 countries have signed the Innovation Radar Declaration, which was launched at Digital Day 2018. Countries who have signed the Declaration share the Commission’s ambition of using Innovation Radar to foster the emergence of a dynamic ecosystem around the output of EU R&I programmes. They also demonstrate their commitment to work with the European Commission to enhance the Innovation Radar and pilot the Radar methodology in national or regional Research and Innovation programmes.