SOFIA INNOVATION SCORING 24.1.

2023 1
A Data-Driven Decision Support System to Automate
Innovation Scoring Process in the Financial Sector

SOFIA INNOVATION SCORING 24.1.2023 2

Why?
Improve access to Funding (SMEs, Startups)

Increase ”Bankability”

Define Business Innovation Evaluation Factors

Introduce Alternative Process Credit & Investment Evaluation

SOFIA INNOVATION SCORING 24.1.2023 3

Why Now?
New evaluation method for the Financial sector

Lack of complete Innovation Scoring tool

Use by Banks, Funds, VCs, Evaluation Platforms, Registries

Supplementary to traditional banking credit and investment evaluation criteria

SOFIA INNOVATION SCORING 24.1.2023 4

 What?

Methodology Innovation Benchmarking Innovation Scoring Evaluation based on

Scoring Automation & Factors and
Monitoring Performance Metrics
Models & Scorecards

SOFIA INNOVATION SCORING 24.1.2023 5

 How?
Step 1: Proof of Concept

Pilot/Beta
Research Development Testing Feedback Results
State-of-the- Methodology & Company Data User Reports &
art Model Creation Collection Questionnaire Guides
State-of-play Software Innovation User Feedback PoC
Development Scorecards Evaluation
Creation

SOFIA INNOVATION SCORING 24.1.2023 6

How?
Step 2: EUH4D Project

Machine
Learning Fine Tuning Integration
Preparation of Machine Learning Deployment of
existing and new Model fine-tuning Services
datasets Service requirements New Features
ML Model testing Performance
development and Hackathon Monitoring
testing

SOFIA INNOVATION SCORING 24.1.2023 7

Innovation Scoring Factors

Financial
Pool of 139
Innovation factors
Organizational
Scoring
Capability
Factors
Classification
Strategy

Impact
SOFIA INNOVATION SCORING 24.1.2023 8
Innovation Scoring Models
Algorithm based
on a Matrix
calculation
evaluating:

Process Disruptive
Innovation Innovation

SOFIA INNOVATION SCORING 24.1.2023 9

Innovation Scoring Models
Process Innovation
Innovation that implements
improved production or
delivery methods for products
or services
Disruptive Innovation
Innovation that disrupts the
market, by displacing
competition and offering
advanced products or services
to a wide audience

Evaluation Evaluation
Eligibility (to which Eligibility (to which
(monitoring (monitoring
extent PI exists) extent DI exists)
success/failure) success/failure)

SOFIA INNOVATION SCORING 24.1.2023 10

Business Questions and Value
Identify which Innovation Scorecard factors
should be increased, to improve a
Company’s Innovation Score

Identify the Risk level of investing into a

Company, based on a company's innovation
Scorecard

Identify which of the provided Company Data

is required and most important to predict
Innovation Score at an early stage

SOFIA INNOVATION SCORING 24.1.2023 11

Insights and Suggestions

On-demand, Suggestions Identify

per Scorecard •Specific Innovation
•Low/High actions to trends
factor increase •Sectors,
classification Innovation Companies,
Scoring Time

SOFIA INNOVATION SCORING 24.1.2023 12

Insights and Suggestions

Innovation Scheduled Creation of

Scoring Model data updates Custom
section • Index and Scoring Models
•Factor usage Sort Factors •Simple User
frequency and by frequency Filters
weight and weight

SOFIA INNOVATION SCORING 24.1.2023 13

Insights and Suggestions

Innovation Risk Scheduled Innovation

level data updates Scorecard
•Based on •Calculation of updates
Scorecard average •Calculation of
Section Section Risk indicator
classification scores

SOFIA INNOVATION SCORING 24.1.2023 14

Insights and Suggestions

Company Data fields Company Data Input

•Available: 49 Process monitoring
• Required for early-stage • Optimization of
prediction: 12 resources
•Accuracy: 97% • Time-saving

SOFIA INNOVATION SCORING 24.1.2023 15

Software features
Scalable Flexible
• Multi-factor • Cloud (AWS)
• Classes & Weights • REST API
• Default & Custom • ERPs/DBs Connection
Scoring Models • Machine Learning

Cooperative And…
• Companies • EL/EN
• Data Input • Benchmarking
• Scorecards • E-Learning
• Users, Roles/Rights • Risk Estimation
SOFIA INNOVATION SCORING 24.1.2023 16
Technology Readiness Level 7→8
ADDITIONAL DATA SOURCES
(INT./EXT./WEB)
USERS
CLIENTS

Startups
SMEs
Enterprises

Banks
Organizations
WEB APP BACKEND

SOFIA
SOFIA INNOVATION SCORING 24.1.2023 17
Summary
Modern & Innovative
Data exchange external
Business Innovation
sources/databases
Scoring Tool

Unified environment
Data Integrity & secure
Scorecards & Innovation
user access
Scoring Models

Alternative/supplementary User satisfaction rate

evaluation process 86,8%

SOFIA INNOVATION SCORING 24.1.2023 18

What’s next?
EOSC DIH Business
BoG Regulatory pilots (Oct. 2022 –
Sandbox Feb. 2023)

SOFIA v.04 (EUH4D

experiment “SOFIA
4.0”, June 2022 –
Feb. 2023)

SOFIA INNOVATION SCORING 24.1.2023 19

SOFIA Live Demonstration

SOFIA INNOVATION SCORING 24.1.2023 20

Are you interested?

Company (Enterprise, SME, Financial Institution (Bank, VC,

Startup)? Registry, Fund)?

Fill the Form!

Register!
https://b24-
https://beta.sofiadss.gr/register
uzufk6.bitrix24.site/crm_form_jzjgz/

SOFIA INNOVATION SCORING 24.1.2023 21

 Thank you!

SOFIA INNOVATION SCORING 24.1.2023 22