To move the industry forward and stay competitive, enterprises need to innovate and develop new products constantly. While large companies have the required human and financial resources to allocate for research and development, small and medium-sized enterprises (SMEs), which make up the majority of the industry, struggle in this field due to the lack of such resources.
The same is also true for the biomedical sector, where the development of pharmaceuticals and medical devices requires an immense amount of scientific input. To flatten the industrial inequality and support SMEs in their struggle to compete with big pharmaceutical companies we need to build tools to assist small players in developing new solutions that would boost their competitiveness and allow them to enter the market with their products more efficiently.
What is the current situation/existing inefficient solution?
Currently, there is no widely accessible and applicable SME-oriented solution to assist them with research and development.
Stakeholders affected by this problem
How will the solution change the lives of the beneficiaries?
The solution will boost SMEs' competitiveness by helping them develop a wide range of novel solutions to introduce new products to the market. For their customers, it means new ways of resolving their pain and needs and an overall increase in the quality of life as a consequence.
How will the solution impact European industry?
The solution will potentially change the power balance in the industry, allowing SMEs, which make up a significant part of the industry, to produce new high-quality products and services, thus boosting the competitiveness and resilience of the European Industry.
What are some of the potential actions that could be taken to solve this problem?
Participants may develop solutions to increase SMEs' research and development capabilities or assist them in prototyping, piloting, and spreading their solutions when developed.
What are the technical methods that could be used to tackle the challenge?
Artificial intelligence, machine learning, big data analysis, etc.
Technical and non-technical specific requirements for the solution?
The solution must be aligned with EU legislation.
Support for the teams tackling this challenge
EuropaBio will guide participants in the right direction by providing insights into the market players' needs relevant to the challenge and share its general market expertise.
Datasets available for the hackathon
No datasets are envisioned.
EuropaBio will provide experts to help the teams to develop their solutions further. The best teams will also get access to its vast network for valuable partnerships.
About the challenge partner
EuropaBio - The European Association for Bioindustries, is Europe's largest and one of the most influential biotech industry groups. Initiated in 1996 to represent the interests of the biotechnology industry at European level and constantly engaged in a dialogue with the European Parliament, the European Commission and the Council of Ministers, EuropaBio aims to influence legislation on biotechnology, representing the healthcare and industrial biotechnology sectors.