A digital platform as a facilitator for assessing innovation potential and creating business models: a case study from the i3 project

Many ideas flow into the innovation funnel but only 1 out 3000 becomes a successful new product. There are many variables that interact in this complex process and investors decisions are often based on experience and feeling rather than a comprehensive evaluation of the social, economic and technological factors. The innovation potential, the innovator capability, the accessibility of the technology as well as the social acceptance and the chosen business model are the some of the critical factors of a successful innovation strategy. In the broad sense, a business model is the approach of doing business through which a company can sustain itself and generate profits in the long term. Digital platforms can help manage and facilitate the complexity of value propositions and provide an immediate feedback to the entrepreneur. Creating value is necessary, but not sufficient, for an organization to profit from its business model. It is important to see the whole picture of the business that is why the business models are so important for a good start of the business. However, innovation assessment and business model development sometimes are not an easy task and ICT can make this process easier. Then, the aim of this paper is to explore the role of digital platforms as facilitators for the techno-socio-economic impact assessment and the development of sustainable business models through the analysis of a case study from the EU Horizon 2020 “i3 project”.