The objective of NEFFICS is to provide a new software platform as a basis for a new innovation driven ecology for networked enterprises, extended on top of an established cloud-based, software-as-a-service business operation platform, combined with an advanced innovation management software platform. The business context and value of the new platform will be demonstrated and validated in enterprise communities in two major European industrial sectors, through optimising their operational performance and innovation capacity. Open Business Model Innovation and process/service/product innovation will be managed and measured to demonstrate value generation at the business level.The work in NEFFICS will be driven by the needs of two user communities: Virtual Factory Network through Vlastuin, and Liquid Hospital through the Hospital of Sant Joan de Déu. Additional communities will be involved. Methodology and model support will be provided for Business Value Analysis Models from IC Focus, Networked Innovation Models from ICI of Aalborg University, and Enterprise Process and Service Models from SINTEF. Two European software companies, Cordys and Induct, provide respectively the cloud-based business operations and SaaS-based innovation community platforms. Their current offerings will be enhanced and integrated with other NEFFICS results to support, on a massive scale, enterprise transformation to innovative value networks.The project will be actively involved in establishing international standards from OMG in the areas of value analysis models, business service/process models, and knowledge process/case management models; and European standards from the new European CEN TC389 on innovation management, ensuring their suitability for networked enterprises.The consortium consists of 5 research & technology partners and 2 business networks, coordinated by SINTEF. NEFFICS will run for 30 months, has a budget of 4.1 M€ with a requested EC contribution of 2.9 M€.