Innovative SMEs with high growth potential are crucial players in strengthening the European innovation and IP ecosystem. However, many SMEs struggle to receive proper funding and potential investors often turn down promising opportunities due to the current assessment methodologies.
The EU-funded project InnoRate is striving to reverse this trend by bringing together potential investors across Europe and innovative tech-driven SMEs. To this end, InnoRate has developed a free-of-charge service platform to support investors in their decision-making process. The platform relies on the InnoRate Technology Rating System (ITRS), an innovation assessment and rating methodology. ITRS scores companies based on a pre-screening and an in-depth assessment by human experts (Deep Assessment). This helps start-ups and SMEs to assess their innovation potential.
InnoRate is a three-year project that started in January 2019 and is funded by the European Union’s Horizon 2020 research and innovation programme. The InnoRate consortium consists of nine partners from five European countries and Korea.