The 2nd semester of the project has been characterized by core developments related to the design of innovative assessment and rating methodologies (i.e. InnoRate Technology Rating System – ITRS), within the scope of “WP2 – Design and development of InnoRate’s innovation assessment and rating methodologies“. The activities consist of 4 tasks, to complete the design and operationalization of the ITRS: definition of the baseline indicators set, scouting of relevant datasets, design of ITRS innovation assessment and rating of methodologies and continuous update in light of pilots’ results and iterations with AB members and experts.
The WP2 activities have been officially launched in June 2019, with a focus on “T2.1 Co-design of the InnoRate Technology Rating System” lead by KOTEC and focused on the elaboration of ITRS baseline indications taking the moves from KOTEC TRS. To this purpose, KOTEC’s consolidated indicators were reviewed, adapted and improved according to the indications gathered during the InnoRate co-creation workshop (held in May 2019) and further consultations of the AB members during a dedicated online workshop. By August 2019 the ITRS and the related deliverables were consolidated. In addition, ITRS indicators were categorized according to four perspectives, namely Management, Technology competency, Marketability and Business feasibility.
Leveraging on the evidence and results of T2.1, “Task 2.2 Development of customized innovation assessment and rating methodologies” was launched in August 2019 to lead, by February 2020, to the consolidation of the 1st version of the overall InnoRate innovation assessment and rating methodologies. This activity took the moves from the design of User Journey maps (elaborated by EY and Use Case owners) to identify the specific journeys to be followed by use cases owners to pave the ground for the development of user-driven innovation assessment and rating methodologies.
Thereafter, rating methodologies have been developed encompassing modeling activities as Variability Assessment, Customization of Criteria and Weighting of Indicators for each use case, development of the Scoring Algorithm and weighting of indicators. As of 1st activity, EY (as task leader) has developed a baseline version of the rating methodology, to weight the relevance of each indicator according to the maturity of the SMEs under assessment. Then, the relevance of each indicator has been assessed per use case, benefiting from the expertise of the use-case owners’ partners. The combination of baseline rates and use-case specific ones will allow defining multiple customized versions of the InnoRate rating methodology. Finally, the task’s activities were focused on the operationalization of the process, by defining a dedicated scoring algorithm (distinguishing between indicators to be assessed at quick or deep assessment stage), defining platforms’ mock-ups and structures of personalized reports, as well as documentation needed for the different users (e.g. SMEs, experts, investors). As regards the ongoing activities under the scope of T2.2, the matchmaking procedure (to identify most relevant SMEs for different investors’ profiles and vice-versa) has been designed from the ITRS and the related weights envisaged per use case: the 1st version of the procedure will be tested in the piloting activities and improved with data and evidence from operational environments.
Finally, an initial set of data modeling requirements and related target datasets has been elaborate by ONTO under the scope of the task “T2.3 – Semantic data modeling, data ingestion, and data integration”.
The above-mentioned activities will be summarized in the D2.2 “InnoRate innovation assessment and rating methodologies” (by the end of February 2020) and updated until the end of the project. All these steps are setting the basis for the piloting phase of a 1st version of the InnoRate Platform.