The Innovation Radar of the European Commission has identified the mineral exploration method developed in the NEXT project, which is coordinated by the Geological Survey of Finland (GTK), as a high-potential innovation.
The purpose of the Innovation Radar is to publish, commercialise and reward high-quality products developed in EU-funded projects. The New Exploration Technologies (NEXT) project is funded by the EU’s Horizon 2020 research programme, which aims to improve European companies’ standing in global competition.
Independent experts of the Innovation Radar ranked the product of the NEXT project, Novel electromagnetic (EM) survey system on UAV for mineral exploration, as a top innovation with high market potential in the near future.
Radai Oy from Oulu, Loop and Line Oy from Kirkkonummi and GTK are behind the product’s development as well as its key developers. Radai is the main developer. GTK has been a supporter and facilitator in the development.
The Innovation Radar was established in 2014, at the initiative of the EU’s member states. The key objective was to increase the global exposure of high-quality projects funded by the EU and to inform the general public of the technical and scientific advances of European research and development. The Innovation Radar is supported by the EU member states and, to date, ministries of 23 nations have signed the Innovation Radar Declaration. Finland’s signatory is the Ministry of Economic Affairs and Employment.
The Innovation Radar’s evaluation focuses on:
- Innovation readiness: the product’s technical maturity and readiness for commercialisation.
- Innovation management: a consortium’s commitment to bring their innovations to market and the project management’s ability to support the innovations.
- Market potential: market demand and scope.
- Innovation environment: the overall atmosphere of the project consortium, such as commitment, activity and performance.
So far, 117 Finnish innovations created from EU projects have been recognised. Only two of them relate to the extractive industry. In total, there are 3,631 innovations on the Europe-wide list, of which 12 relate to the extractive industry. The NEXT project’s product is only the second to relate directly to mineral exploration.
Project Manager Juha Kaija, the Geological Survey of Finland, email@example.com, tel. +358 29 503 2572
Science Coordinator Vesa Nykänen, the Geological Survey of Finland, firstname.lastname@example.org, tel. +358 29 503 4306
Ari Saartenoja, Radai Oy, email@example.com, tel. +358 45 165 3443
Jarkko Jokinen, Loop and Line Oy, firstname.lastname@example.org, tel. +358 40 840 1060
The NEXT project has been funded by the European Union’s Horizon 2020 research and innovation programme under grant agreement ID 776804 – H2020-SC5-2017.