170 breakthrough detection and imaging ideas with market potential will get funding from the ATTRACT EU initiative for open innovation
Brussels, 25th September 2018 – A pioneering EU initiative to couple world-class research laboratories and business-management experts was launched today in Brussels at a high-level Open! conference on the EU policy of making research and innovation open to all. The ATTRACT Horizon 2020 initiative applies a new model of open innovation for creating and scaling up technology companies in Europe.
“We have to look at new, non-traditional sources of innovation to solve the major societal challenges that face us in the 21st century,” said Jonathan Wareham, ESADE professor and Project Committee Member of ATTRACT, who presented the project at the conference. “In today’s economically stagnating world, breakthrough innovations are more important than ever.”
The ATTRACT seed fund is open to researchers and entrepreneurs from organisations all over Europe. It will collect breakthrough ideas until the 31st of October 2018. A high-level, independent Research, Development and Innovation Committee will evaluate proposals and select those to be funded based on a combination of their scientific merit, innovation readiness and potential societal impact. The successful proposals will be announced in early 2019.
The 170 breakthrough projects funded by ATTRACT will have one year to develop their ideas. During this phase, business and innovation experts from the ATTRACT Project Consortium’s Aalto University, EIRMA and ESADE Business School will help project teams explore how their disruptive technology can be transformed into breakthrough innovations with strong market potential.
“The process of developing new science into technologies that enable breakthrough innovation often happens by chance. ATTRACT aims to create and deploy mechanisms and a permanent pipeline for systematically achieving such transformation,” says Prof. Henry Chesbrough, who coined the term ‘Open Innovation’ and is a special advisor to ATTRACT.
ATTRACT will also create multiple ways in which private investment can get involved in supporting the newly-established businesses, thus creating economic growth for years to come.
“ATTRACT will help the public sector be more effective in its role of reducing the risk of developing new technology to the point at which the private sector is willing to invest – just as the US did at the birth of Silicon Valley,” says John Wood, Chair of the Project Advisory Committee of ATTRACT, former Head of Rutherford Appleton Laboratory and of Engineering at Imperial College London.
Creating life-changing technologies for society
Most scientific advances, technical applications, commercially worthwhile products and businesses targeting emerging societal challenges rely on detection and imaging technologies in some way. Disruptive innovations emerging from ATTRACT will trigger transformations that will have real impact on people’s lives.
Examples of future applications for society could include: portable scanners for out-patient treatment; sensors to help the visually impaired navigate the world more easily; networks of sensors to make agriculture more productive and less energy-intensive; smarter use of monitoring and big data analysis to make factories work more efficiently; better forms of online learning; and new ways to accurately monitor climate change.
Led by the European Organization for Nuclear Research (CERN), the ATTRACT initiative involves the European Molecular Biology Laboratory (EMBL), the European Southern Observatory (ESO), the European Synchrotron Radiation Facility (ESRF), the European XFEL, Institut Laue-Langevin (ILL), Aalto University, the European Industrial Research Management Association (EIRMA) and ESADE. The initiative is funded by the European Union's Horizon 2020 research and innovation programme.
Driving the economy and jobs
State-of-the-art detection and imaging technologies form the cornerstone for several industrial sectors, including ICT, energy, process industries, manufacturing, aeronautics, medicine, robotics, space and transport. These technologies drive a direct annual market of over €100 billion[i] (Frost & Sullivan Report, “Top Technologies in Sensors & Control”).
- The market for medical imaging and radiation detectors is worth €21 billion a year.
- Satellite imaging is a €2 billion market, and is expected to experience a compound annual growth rate of 14.2% from 2018 to 2023.
- Open data can unlock over €2.7 trillion in value.
- The ICT sector represents 4% of the EU’s GDP, and includes technologies such as advanced manufacturing, robotic arms, remote sensors, and opto-mechanical assemblies.
European research already excels in these areas. The availability of ATTRACT funding will accelerate the development of breakthrough solutions, as well as improving Europe’s return on its scientific investment by capturing the interest of private investors – business angels, venture capital firms and corporate investors.
ABOUT ATTRACT: ATTRACT is a pioneering initiative bringing together Europe’s fundamental research and industrial communities to lead the next generation of detection and imaging technologies. Funded by the European Union’s Horizon 2020 programme, the project aims to help revamp Europe’s economy and improve people’s lives by creating products, services, companies and jobs. More info at www.attract-eu.com
[i] The short-scale is used throughout whereby ‘billion’ = 109 and ‘trillion’ = 1012.