DLT4EU teams are about to deliver their Proofs-of-Concept
The eight Venture Teams of DLT4EU have a very exciting week ahead of them. After more than six months developing the spearheading solutions for the eight challenges of our programme, the moment of truth has arrived.
Teams will be submitting their applications on Friday 29th. This deliverable will include a virtual pitch and a Proof-of-Concept (PoC) - a functional prototype that helps solve the chosen challenge, and that will be used to validate the potential of Distributed Ledger Technologies (DLTs) in real-world scenarios for the public and social sectors.
A Jury of experts will evaluate the submissions
All the PoCs will be assessed by an Evaluation Jury composed of external subject matter experts from fields like Public and Social Good Sector Innovation, DLT Development and Open Source Licensing, Innovative Finance, Business Strategy, and User Experience and Product Development.
The Evaluation Jury will undertake their assessment between the 3rd and the 19th of February using seven Evaluation Criteria that have been developed by the DLT4EU Consortium in consultation with the European Commission Joint Research Center (JRC) and external subject matter experts. The Criteria are:
Challenge-Solution Fit: The PoC solves the challenge set by the Challenge Owner and its intended impact has been cleared by setting appropriate impact targets or using established frameworks such as the Sustainable Development Goals.
Innovation: The PoC is novel and unique thanks to the team’s creativity in finding an original solution that meets the challenge requirements and benefit to a broader set of beneficiaries, including EU citizens.
Useability and Inclusiveness: The PoC is of benefit to a broader set of beneficiaries than the Challenge Owner / intended end user of the PoC. This assessment is of both the user interface and experience, and the underlying principles of the PoC.
Commercial Feasibility and Scalability: The Venture Team has developed a strategic roadmap for the market entry of the PoC. It can include market research, user research, engagement with investors or financing needs, and the business model.
Technical Feasibility: The PoC has a high Technology Readiness Level (TRL) and progression rate.
Open Source: The Venture Team has or will plan to release part or the entirety of the PoC under an open source license of their choice.
Compliance and Transparency: The PoC complies with relevant data and privacy protection legislation, such as the General Data Protection Regulation (GDPR).
Three teams will receive follow-on funding
Three Venture Teams will receive follow-on funding and will be publicly announced at the DLT4EU Final Event, which will take place in mid-March. This recognition provides the opportunity to facilitate the real-world uptake of the applications and to increase the visibility of the projects.
This decisive moment unfortunately means that the end of our programme is near, but we are really excited to see the results of the big effort made by the eight Venture Teams and their Challenge Owners. Stay tuned for more!
