Page 33 - European Energy Innovation - summer 2019 publication
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Summer 2019 European Energy Innovation 33
FINANCING CLEAN INNOVATION
world leader. But fundamental support to respond to their need, that and informed discussion between
research is not all, and too often, vary between sectors and TRLs. The relevant EU decision makers and
brilliant European ideas are pick up valley-of-death between fundamental financial actors would contribute to
and developed and commercialized research and market deployment identify existing barriers for climate
elsewhere in the world. We need the is a real threat today for many relevant investments, clarify what
right support framework to ensure entrepreneurs, and public schemes clean innovation is, and establish
clean innovation value chains stays should contribute to support the risks recommendations to grow the overall
in Europe and benefit here. We need to overcome this threat, innovation amount of money in the pot.
EU entrepreneurs and champions to by essence comes with uncertainty
sell the products and services to EU and that’s where public support has This would also be good for EU
consumers and demonstrate there to make a difference. The Innovation competitiveness in general, which
are solutions to the global climate Fund is highly expected to this extent, is necessary to achieve the green
challenge. but structural funds and Invest EU transition. EU leadership doesn’t
will also play a role. In short, it’s not lie in abundant and cheap working
The next Research and Framework only about the amount, but also force, but rather is quality, high-end
programme, Horizon Europe, sets the relevance of the instruments. To services and products. Sustainability
new instruments to foster innovation. deliver, money has to be well spent. will more and more be deeply part
The EIC can complement the EIT of quality, as is fairness. We want
with a different approach but a The public framework should also Europe to stay ahead of the game in
common goal to back innovators facilitate the leveraging of more defining the standards for climate-
in their journey to profitability, private money, Europe needs more relevant innovation, with positive
the result-oriented Missions can risk-tolerant and patient capital to impacts for the whole value-chains.
deliver fast and concrete results if compete with other regions, to this The faster Europe responds to this
they are adequately designed. But end the dialogue between those who challenge, the greater the competitive
other instruments will be of equal design the framework and those advantage, and the bigger the
importance: innovators don’t need who actually make the investments benefits for the climate and the
more grant, they need tailored has to be structured. A regular citizens. l
[1] Funding Innovation to Deliver EU Competitive Climate Leadership, Peter Sweatman for .Climate Strategy and partners
www.europeanenergyinnovation.eu
