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Formulate

Artificial Intelligence SaaS for prescribing optimal retail merchandising decisions

Total Cost €

EC-Contrib. €

Partnership

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Outcomes and
results

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.

our formulate good distributed media solution cyber selecting analytics retailers items price of sales campaign timing promotion 30 margins during black unprofitable broke day scaling feel friday automation create tactic generates triumphs customers retail 70 promotions company competition automates stores transform full assessing commercialization international strategy ai evaluation fact combines monday adjusting pressure merchandising creates platform prepare players decisioncloud amazon news positive ultimate business stands plan supplier alibaba decisions optimal right competence satisfied retailer giants 2018 data fall technological capacity precise market single records double mind survive sizes tech optimizing transaction hits boarding initial dark smes dynamics empower academia decision eroding consist suggests

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 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.	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.