- On 29 January 2020
- In Content of Application Form Excellence Phase 1/2
- Tags:
What is expected in section Excellence?
ADVICE FOR EXCELLENCE SUB-SECTIONS IN TEMPLATE
CHALLENGE AND SOLUTION 1/2
Template
** Describe the identified customer pain point? What is the business need, technological challenge or market opportunity?
** What is your innovation?
Evaluation criteria
High-risk/ High-potential idea that has something that nobody else has. It should be better and/or significantly different to any alternative. Game changing ideas or breakthrough innovations are particularly sought after. Its high degree of novelty comes with a high chance of either success or failure.
Expectations
Explain how your solution or product solves the stated problem and avails of the business opportunity.
⇒ Make sure to define a value proposition.
⇒ Identify and explain the first & secondary market application.
⇒ Show that the pain point is such that a solution is a ‘musthave’ and not a ‘nice-to-have’.
⇒ What do you do that was never done before – why wasn’t it done before and why can you do it now.
Definition
Value proposition refers to a business or marketing statement that a company uses to summarise why a consumer should buy a product or use a service. This statement convinces a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings. Companies use this statement to target customers who will benefit most from using the company’s products.
CHALLENGE AND SOLUTION 2/2
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** What is the market’s state-of-the-art?
** How would your innovation compare with available solutions, practices or products (e.g. pe r fo rmance, costs, ease-of-use, gender dimension, climate change or environmental aspects, benefits to society)?
Evaluation criteria
Highly innovative solution that goes beyond the state of the art in comparison with existing or competing solutions, including on the basis of costs, ease of use and other relevant features as well as issues related to climate change or the environment, the gender dimension, any other benefits for society.
Expectations
Compare alternative technologies/products explicitly, don’t compare companies here. Competitor analysis should be detailed in section 2.
⇒Appropriate use of graphical elements is recommended: a picture is worth a thousand words.
⇒ Know & address the European Union’s challenges and policies – meeting more than one challenge is great! (For instance meeting both the energy and housing challenges…). Adding references to these challenges can help.
⇒ Gender issues must be addressed. Ensuring an equality policy upon recruitment in the company can help.
Definition
State of the art (sometimes cutting edge) refers to the highest level of general development, as of a device, technique, or scientific field achieved at a particular time.
APPROACH 1/3
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** What is unique in your approach, compared to those of other companies?
** Why now? Explain the historical evolution of your category and define recent trends that make your solution possible.
** What is the current development stage of your innovation? Refer to Technology Readiness Levels (TRL) or something analogous for non-technological innovations (see General Annex G of the Work Programme).
Evaluation criteria
Realistic description of current stage of development (Ph.2 only: TRL6 or analogous for non-technological innovations), and clear outline of steps planned to take this innovation to market.
Expectations
⇒ Clearly explain what your competitive advantage is.
⇒ It is recommended that you include graphics that illustrate the milestones, TRLs, already achieved.
⇒ TRL: The TRL should be 6 (prototype/demo of the technology in a relevant environment) or above. Note that the SME instrument is not a tool for company creation!
⇒ You may include results from early field trials, prototype development, reference site installations, etc.
⇒The technology should have been demonstrated working in a relevant environment, make sure to refer to that.
Definition
Technology Readiness Levels (TRL) are a type of measurement system used to assess the maturity level of a particular technology. Each technology project is evaluated against the parameters for each technology level and is then assigned a TRL rating based on the projects progress
APPROACH 2/3
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** Phase 1 only: What do you plan to achieve in the feasibility study? Explain the methodology distinguishing the activities to assess the technological / technical / practical feasibility and economic viability of your innovation.
** Which milestones led to the current development stage (e.g. proof of concept completed, early field trials under way)? Describe the results obtained on the technological, practical and economic feasibility of the innovation.
Evaluation criteria
Very good understanding of both risks and opportunities related to successful market introduction of the innovation from both technical and commercial points of view or (Ph. 1 only) includes convincing plans for obtaining this information.
Phase 2 only: Documentation on the technological, practical and economic feasibility of the innovation.
Focus
The ‘feasibility’ aspect is particularly examined in Step 2 of the evaluation of Phase 2 proposals (‘face to face interview’).
APPROACH 3/3
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** What are the further stages and activities needed to commercialize your innovation and which of these activities do you intend to perform in this project?
** What are the expected outcomes of this project and the related success criteria?
Evaluation criteria
Phase 1: Objectives for the feasibility study and the approach and activities to be developed are consistent with the expected impact of the project.
Phase 2 : Objectives for the innovation proposal as well as the approach and activities to be developed are consistent with the expected impact (i.e. commercialisation or deployment resulting in company growth).
Expectations
⇒ The activities foreseen should match the expected outcome (and the budget, of course).
⇒ How to measure success and performance = Key Performance Indicator (KPI). A good KPI should act as a compass, helping you and your team understand whether you’re taking the right path toward your strategic goals. KPIs should be quantifiable.
Definition
Success criteria are the criteria for measuring the success of a project and the key factors of project successes, which practitioners can make use of to minimise or eliminate failures and thus improve project success.
