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European Institute of Innovation and Technology: strategy for 2021-2027

Today, the European Commission has proposed an update of the legal base of the European Institute of Innovation and Technology (EIT) as well as its new Strategic Innovation Agenda for 2021-2027.

The EIT is an independent EU body created in 2008 that is strengthening Europe’s ability to innovate. The proposals adopted today will align the EIT with the EU’s next research and innovation programme Horizon Europe (2021-2027) delivering on the Commission’s commitment to further boost Europe’s innovation potential. With a proposed budget of €3 billion, which represents an increase of €600 million or 25% compared to the current Strategic Innovation Agenda (2014-2020), the EIT will fund activities of existing and new Knowledge and Innovation Communities (KICs) and support the innovation capacity of 750 higher education institutions.

Tibor Navracsics, Commissioner for Education, Culture, Youth and Sport, responsible for the EIT, said: “Since 2008, the European Institute of Innovation and Technology has been nurturing talent and creativity through a unique focus on education and entrepreneurship. The strategy we are now putting in place for 2021-2027 will help ensure that all of Europe’s regions benefit from the Institute’s potential and will further boost the innovation capacity of our higher education sector. And I am particularly proud to announce today the launch of a new Knowledge and Innovation Community to support innovation in the cultural and creative industries, planned for 2022.” Continue reading “European Institute of Innovation and Technology: strategy for 2021-2027”

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With the EIB and ELENA, the RenoWatt project, energy for jobs, opens to all Wallonia

To achieve European and economic objectives, local authorities have a key role to play in improving energy efficiency (urban renewal, mobility, biomass energy, etc.). The RenoWatt project is focused in that direction and opens to all Wallonia with the support of the European Union’s ELENA Programme and the European Investment Bank.

The European Union’s Climate and Energy Objectives

By 2030, the European Union (EU) is committed to achieving:

  • a 40% reduction in greenhouse gas emissions compared to 1990: -43% compared to 2005 (Emissions Trading System – ETS) and -35% compared to 2005 (non-ETS such as transport, construction, etc.);
  • a renewable energy share of at least 32% in the energy mix (binding target);
  • a 32.5% increase in energy efficiency (primary energy consumption compared to 2007).

In view of these upcoming EU requirements, it is vital to set up structures to promote the energy-efficient renovation of buildings. Public and private buildings alone account for more than 40% of final energy consumption: the thermal refurbishment of buildings will create jobs and help limit the use of petroleum products.

Economic impact

The potential impact of this project goes beyond the EU’s obligations; investment in energy renovation sectors means investment in activities that generate value and wealth in terms of Wallonia’s GDP. The energy savings and the mobilisation of the construction sector will lead to the acquisition of expertise, within the Region and in financial tools. The deployment of appropriate training initiatives aimed at local recruitment by companies that can enter into energy performance contracts (EPCs), the introduction of new techniques for financing the transition, the development of new energy services operators in the private sector and the professionalisation of the “Walloon energy transition” are all benefits that this project can bring. More specifically, the development of an “industrial/economic” sector would result in an investment potential of more than EUR 30 billion and the creation of more than 17 000 jobs over the next 30 years. Continue reading “With the EIB and ELENA, the RenoWatt project, energy for jobs, opens to all Wallonia”

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FinTech : Commission takes action for a more competitive and innovative financial market

The European Commission unveiled an Action Plan on how to harness the opportunities presented by technology-enabled innovation in financial services (FinTech).

Europe should become a global hub for FinTech, with EU businesses and investors able to make most of the advantages offered by the Single Market in this fast-moving sector. As a first major deliverable, the Commission is also putting forward new rules that will help crowdfunding platforms to grow across the EU’s single market.

Today’s Action Plan envisages to enable the financial sector to make use of the rapid advances in new technologies, such as blockchain, artificial intelligence and cloud services. At the same time, it seeks to make markets safer and easier to access for new players. This will benefit consumers, investors, banks and new market players alike. In addition, the Commission is proposing a pan-European label for platforms, so that a platform licensed in one country can operate across the EU.

The Action Plan is part of the Commission’s efforts to build a Capital Markets Union (CMU) and a true single market for consumer financial services. It is also part of its drive to create a Digital Single Market. The Commission aims to make EU rules more future-oriented and aligned with the rapid advance of technological development. Continue reading “FinTech : Commission takes action for a more competitive and innovative financial market”