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Formulate

Artificial Intelligence SaaS for prescribing optimal retail merchandising decisions

Total Cost €

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EC-Contrib. €

0

Partnership

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 Formulate project word cloud

Explore the words cloud of the Formulate project. It provides you a very rough idea of what is the project "Formulate" about.

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Project "Formulate" data sheet

The following table provides information about the project.

Coordinator
FORMULATE AB 

Organization address
address: TEGNERGATAN 34
city: STOCKHOLM
postcode: 113 59
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Sweden [SE]
 Project website https://www.formulate.app/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-05-01   to  2019-10-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    FORMULATE AB SE (STOCKHOLM) coordinator 50˙000.00

Map

 Project objective

During the fall of 2018, retail sales broke new records throughout Black Friday, Cyber Monday and Single’s day. This should be good news for retailers, but the reality is that there’s a dark side to these triumphs - a large part of growth is driven by an increase of promotions, which is eroding the margins of many retailers. In fact, our data suggests that more than 70% of all supplier promotions and well above 30% of all retail promotions are unprofitable, even after adjusting for supplier funding. Particularly this hits the SMEs that feel much pressure from large players such as Amazon or Alibaba but do not have necessary competence and capacity to survive the competition.

Formulate aims to provide a solution to these challenges by offering its DecisionCloud, a platform that combines our AI with company’s transaction data to create better stores and more satisfied customers. Whether it comes to selecting promotion items, the optimal price tactic, right media, or campaign timing, we empower the right decision for any retailer’s business. Based on our findings and our collaboration with academia, Formulate can double the impact from the merchandising decisions.

With its full automation of AI, distributed analytics capabilities, low IT cost and easy on-boarding, Formulate stands out of competition. But most importantly, the product creates a much-needed market change and generates great positive impact on the retailer-supplier dynamics. Our ultimate goal is to enable retailers of all sizes – not only the largest tech giants – to have access to advanced AI that automates merchandising decisions.

The key objective of our project is to transform an initial business plan into a robust strategy for international commercialization and to prepare for a Phase 2 development. With this objective in mind, our Phase 1 project will consist of a more precise market evaluation, assessing technological needs for further scaling and optimizing our go-to-market strategy

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "FORMULATE" project.

For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.

Send me an  email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.

Thanks. And then put a link of this page into your project's website.

The information about "FORMULATE" are provided by the European Opendata Portal: CORDIS opendata.

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