VentureFest will provide a launch platform for INVITE Open Innovation 2.0 LAB
A new open-innovation project, INVITE is designed to enhance pan-European collaboration and solve industrial challenges.
INVITE aims to match SMEs from different countries in Europe who will use their complementary skills and knowledge to collaborate and provide proof of concept for solutions to challenges set by large manufacturers.
Alongside Stuttgart in Germany, the North East is one of two European test-regions for the two-year project funded by Horizon 2020. Running throughout 2019 and 2020, €5,000 vouchers to cover the costs of initial scoping and proof of concept work are also available to 20 SMEs based in the region. In addition to the support and funding available, the programme will also offer access to e-learning resources for companies new to the concept of open innovation, equipping them with the skills and knowledge that will allow them to exploit new business opportunities and make European-wide connections.
What to expect: One of the first challenges developed through INVITE, is to provide a novel digital solution to a paper-based faults system in the manufacturing process for companies such as Nissan and other automotive firms. This is a real market opportunity and delegates at VentureFest North East will have the chance to learn more about INVITE and engage with this initial problem in a Live Challenge environment.