Innovation and business accelerator for companies involved in smart technologies, Blumorpho, has announced that its EU-backed gateone-project has overseen the fast-track development of 35 innovation projects since the three-year programme began in 2015.
These include Swiss-based F&P robotics’ flexible pressure sensors on its humanoid robot - recognised for its high agility, French-based itk’s IoT solutions for improved crop management and German-Serbian Nissatech’s smart knee sensor to rehabilitate patients following knee surgery.
The gateone-project is part of the EU’s drive to digitise European industry, an initiative called ‘Smart Anything Everywhere’. The project aims at enabling businesses to create value at low risk and facilitating pragmatic decision-making.
A further 15 gateone-project investments are on track for completion by spring 2017. This means Blumorpho will achieve gateone’s goal of delivering 50 projects within the allocated €2.5m ($2.65m) budget nine months ahead of the program’s December 2017 end date.
“Smart and digital technologies are creating growth opportunities in traditional and emerging markets. But their rapid adoption by European industry is being hampered by investment and structural constraints,” said Geraldine Andrieux, CEO, Blumorpho. “The gateone-project helps overcome two challenging hurdles: it lowers the financial risks for the innovator aiming to bring a novel product to the market and reduces the gamble associated with its adoption by market players.”
Candidates enrolled in the gateone-project have access to financing opportunities and other resources from €50,000 ($54,000) up to €100,000 ($108,000), as well as access to a portfolio of 200 innovations. Selected companies with smart innovation projects backed by a strong business case also benefit from the development of a free product demo. The vast technology and deep market expertise that the gateone-project offers candidates, in conjunction with the free demonstrator, mark its difference from other innovation support programs.
To date, 100 companies are working on innovation projects that receive gateone-project support, of which 35 have developed product demonstrators.
“Interest in the gateone-project has grown since its inception in 2015. We have already had a number of successes around Europe. As an outcome of each initial investment decision, we expect to see a minimum of €1m ($1.06m) generated in sales in the following three years,” Andrieux added.
Among other gateone-project successes are: