In a forward-looking move, the European Commission adopted the New European Innovation Agenda in July 2022. It plans to position Europe as a global innovation leader, particularly in the realm of deep tech innovation and startups. Deep-tech innovation, rooted in cutting-edge science, technology, and engineering, holds the potential to offer transformative solutions to global challenges. Especially by combining advances in the physical, biological, and digital domains.
Innovation thrives well in a crossed-sector environment, where cross-pollination of ideas is a driving force behind disruptive breakthroughs, not always limited to a specific field.
Advantages of New Innovative Waves
The New European Innovation Agenda focuses on two promising waves of innovation.
1.The DIGITAL AGE INNOVATION
Building on the pillars of supercomputing, artificial intelligence, and automation, this wave is expected to impact productivity across various sectors (incl. services) and revolutionize basic sciences across all fields.
2.The DEEP SCIENCE INNOVATION
Characterized by breakthroughs in biotechnologies, nanotechnologies, new materials, and other sciences, it is reshaping innovations in critical areas like health, food, environment, and mobility.
Focus on Different Areas
While the positive effects of the waves will take time to materialize, the agenda seeks to overcome obstacles, particularly in technology adoption and diffusion.
In particular, the New Innovation Agenda aspires to:
The agenda revolves around five flagships, each with 25 dedicated actions. These include:
Key players to support innovation
Europe’s innovation toolkit has evolved significantly over the years.
Initiatives like Horizon Europe’s Innovative Europe pillar, the European Innovation Council, and the European Institute of Innovation and Technology (EIT) are playing vital roles in supporting start-ups, scale-ups, and SMEs.
The INNOVATIVE EUROPE PILLAR
Thanks to it, both existing and new tools to support start-ups, scale-ups and small and medium-sized enterprises (SMEs) have been developed and used.
The EUROPEAN INNOVATION COUNCIL (EIC)
With the substantial budget of €10 billion, the EIC aims to support innovation across its entire lifecycle, from research to scaling up businesses.
The EUROPEAN INSTITUTE OF INNOVATIO AND TECHNOLOGY (EIT)
Through the creation of new Knowledge and Innovation Communities (KICs), the EIT has expanded its tasks. Including ones focusing on the culture and creative sector. This move aimed at regional disparities and enhancement of the entrepreneurial and innovation capabilities of higher education institutions.
The EUROPEAN INNOVATION ECOSYYSTEMS INITIATIVE
Under Horizon Europe, the initiative is used by the EU to establish better-connected and more efficient innovation ecosystems. These ecosystems aim to facilitate the growth of companies, foster innovation, and promote collaboration among various national, regional, and local innovation stakeholders.
Aid for the Ukrainian Innovation Community
The recent geopolitical events, including Russia’s invasion of Ukraine, have added urgency to Europe’s need for innovation. The EU has stepped up its support for the Ukrainian innovation community, recognizing their valuable contributions to research and innovation in the region. The EU has allocated €20 million to support Ukrainian start-ups through the European Innovation Council, alongside other initiatives like ERA4Ukraine and Horizon4Ukraine.
Fostering Innovation with the BUILD Project
The BUILD initiative, a Coordination and Support Action (CSA) project funded by the Horizon Europe, is one example of the many projects focusing on innovation. Our goal is to contribute to the innovation development by fostering the implementation of innovation procurement, bridging the gap between demand and supply.
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Innovation Council and SMEs Executive Agency. Neither the European Union nor the granting authority can be held responsible for them.