DD-SCAN SIGNED

Project "DD-SCAN" data sheet

The following table provides information about the project.

 Partnership

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 Project objective

By 2030, companies in tech-related industries will face a shortage of around 4.3M workers globally, resulting in slow growth and an estimated €450Bn in unrealized revenues. More women and minorities in tech could potentially fill this gap, but they often do not perceive a feeling of belonging from job ads and online corporate content. The problem is, organizations have no way to guarantee inclusivity across their communication channels. The negative impact is two-fold: 1) low profitability compared to organizations with high gender and ethnic diversity and; 2) €1M in extra hiring costs annually compared to other industries. DD-SCAN is the World’s first software tool that automatically neutralizes social biases across an organization’s online content – website text, images, social media and job ads. Thanks to our proprietary Machine Learning algorithms and datasets, DD-SCAN overcomes the known problems and has already been shown to increase 1) the number of qualified applicants significantly by 175% and 2) eliminating all extra hiring costs associated with tech employees. It will create a new standard for developing inclusive corporate content by providing an effective, convenient and affordable solution. Our current version is being used by 73 tech-related organizations in Denmark, Germany, Sweden, and UK. The objective of this Phase 1 project is to lay the foundation for scaling up our innovation to reach TRL9 and launch in Europe in 2022, build a profitable business, reduce the cost of recruitment and enable millions of applicants to find the right career fit. The business opportunity is huge. Our Serviceable Addressable Market is €21.7Bn and will reach €27.4Bn by 2024, at a CAGR of 6%. By introducing a far superior technology via a scalable subscription-based business model, we expect rapid uptake and a market share of 0.11%, a turnover of €32.6M, EBITDA of €26.9M and a headcount of 83 employees by 2024.