Innovation & Technology – Page 2

12/01/202112/01/2021

First equity investments in breakthrough innovations

The Commission has announced the first round of direct equity investment through the new European Innovation Council (EIC) Fund. 42 highly innovative start-ups and small and medium-sized businesses (SMEs) will together receive equity financing of around €178 million to develop and scale up breakthrough innovations in health, circular economy, advanced manufacturing and other areas. Among them, the French company CorWave is the first EU company in which the EIC Fund is investing.

Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth said: “Europe has many innovative, talented start-ups, but too often these companies remain small or relocate elsewhere. This new form of financing – combining grants and equity – is unique to the European Innovation Council. It will bridge the funding gap for highly innovative companies, unlock additional private investments and enable them scale up in Europe.”

The equity investments, ranging from €500.000 to €15 million per beneficiary, complement the grant financing, which has already been provided through the EIC Accelerator Pilot to enable companies to scale up faster. This is the first time the Commission has made direct equity or quasi-equity investments, namely equity investment blended with a grant, in start-up companies, with ownership stakes expected to range from 10% to 25%. Continue reading “First equity investments in breakthrough innovations”

19/12/2020

Blockchain technologies and the mining industry : a shared future

At the webinar organised by the Consultative Commission on Industrial Change (CCMI), EESC members, external delegates and stakeholders of the mining industry assess the impact of new technologies in the sustainable production of raw materials, highlighting benefits, limitations and potential risks from a social point of view.

Blockchain technologies are an important step forward in the mining industry and could represent a new solution for future mining activities, but the digital transition should be carefully managed, taking into account the social consequences. This was the main message from the online round table organised by the Consultative Commission on Industrial Change (CCMI) of the European Economic and Social Committee (EESC) on 14 December 2020.

Mining companies which embraced the digital transition have recorded improvements in terms of safety, sustainability, productivity and profits. More specifically, blockchain represents the future in this area, but its governance needs to be discussed and established. In addition, we need to minimise the social and territorial imbalances brought about by the transformation of activities and in the broader framework of the new Green Deal and circular economy changes, said Pietro De Lotto, CCMI president, welcoming the guests.

This was echoed by Hilde Van Laere, CCMI member: Blockchain is at the heart of the digital transition and has the potential to transform businesses and the whole of society, not only the mining industry. It has digitally changed every enterprise in every sector and has also transformed the context of mining. With its capacity to provide security and transparency in business transactions, as well as to record changes to documents and business agreements, blockchain technology has extremely useful applications in mining. Continue reading “Blockchain technologies and the mining industry : a shared future”

01/10/2020

Commission sets new plan to support green and digital transition and EU recovery

The European Commission adopted yesterday a Communication on a new European Research Area for Research and Innovation. Based on excellence, competitive, open and talent-driven, the new European Research Area will improve Europe’s research and innovation landscape, accelerate the EU’s transition towards climate neutrality and digital leadership, support its recovery from the societal and economic impact of the coronavirus crisis, and strengthen its resilience against future crises.

The Commission set out strategic objectives and actions to be implemented in close cooperation with the Member States, in order to prioritise investments and reforms in research and innovation, improve access to excellence for researchers across the EU and enable research results to reach the market and the real economy. Additionally, the Communication will further promote researchers’ mobility, skills and career development opportunities within the EU, gender equality, as well as better access to publicly funded peer-reviewed science.

Executive Vice-President for A Europe Fit for the Digital Age, Margrethe Vestager, said: “The EU is already leading innovation through its research and scientific excellence. We want to build on that and step up our efforts towards achieving breakthrough market-driven innovations that will contribute to a green digital Europe and will boost growth, job creation and our competiveness in the global scene. Today we are setting a new ambition for a European Research Area to facilitate cooperation and contribute to a more competitive European industry.”

Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said: “We live in times when scientific activities require faster and effective collaborations. We need to strengthen the European Research Area. An area embracing all of Europe, because knowledge has no territorial boundaries, because scientific knowledge grows with collaborations, because knowledge is trusted if there is open scrutiny of its quality. It has also more chances to achieve peaks of excellence and support an innovative and risk taking industry to shape a resilient, green and digital future.”

Launched in 2000, the European Research Area has made major achievements over the past years – yet, today’s context prompts us to rethink how to strengthen its role, better define and implement its key objectives, as well as make it more attractive as a common space for creating valuable research and innovation. Moreover, Europe is currently facing significant societal, ecological and economic challenges that are aggravated by the coronavirus crisis. Research and innovation is therefore crucial in addressing these challenges, delivering on Europe’s recovery and speeding up the twin green and digital transitions. Continue reading “Commission sets new plan to support green and digital transition and EU recovery”