Innovation investments in interregional value chains
European Regions, clusters, RTOs and other innovation stakeholders jointly call on the EU institutions to use the Interregional innovation Investment instrument to unleash the innovation potential available in Europe’s regions. This new instrument, proposed by the European and supported by the European Parliament and Council, entails a coordinated approach for innovation related investments in the development of interregional value chains across the EU.
Innovation Investments instrument
The Interregional Innovation Investments instrument can, with a relevant budget, play a key role in shortening and strengthening EU industrial supply chains and creating the complete value chains that are crucial to strengthen the EU economy, to secure Europe’s innovation capacity and to create a strong European industrial base.
Value chains – main priority
The creation and strengthening of resilient European industrial value chains is being labeled as a main priority by the Eurogroup when discussing the way towards EU economic recovery:
“Policies to restart the single market and preserving the integrity of supply chains, which demonstrate the interdependence of our economies, are also a priority” – Eurogroup, May ‘20
Collaboration regional ecosystems
The COVID-19 crisis has illustrated the dependence of the EU on external providers for strategic goods, for whole or parts of the value chains of antibiotics and painkillers as well as protective masks and medical equipment, with a weak EU capacity to react in a collaborative manner in first instance. Nevertheless, many regional innovation ecosystems across Europe have responded to the outbreak rapidly. Key technologies like biotechnology and 3D-printing have been mobilised to create innovative solutions, by bottom-up collaboration between stakeholders within regional innovation ecosystems. RTOs, universities, industry, small and big companies, start-ups, hospitals, publics authorities, fablabs, developers and cluster organisations play their part in creating new innovative solutions to face the crisis.
Next Generation EU Budget
PROPOSED RECOVERY PROGRAMME IN NEW EU BUDGET – The European Commission has put forward its proposal for the recovery plan, Next Generation EU, which will be included within the long-term EU budget. The recovery instrument should ensure the sustainable, inclusive and fair recovery for the EU. The budget earmarks €94.4 billion for Horizon Europe where research in health and green and digital transitions will be crucial.
Green Deal & Digitalization
“The European Green Deal and Digitalization will boost jobs and growth, the resilience of our societies and the health of our environment. This is Europe’s moment. Our willingness to act must live up to the challenges we are all facing.”- Ursula von der Leyen, European Commission President
“We need to make sure that the recovery from the coronavirus crisis is based on the green and digital transitions. That is the goal of the proposals the EU Commission is making this week.” – Frans Timmermans, Executive Vice-President for the European Green Deal
Next Generation EU will have a budget of €750 billion, as well as targeted reinforcements to the long-term EU budget for 2021-2027 – making the EU budget’s new total for this period €1.85 trillion.
Read more: NEXT GENERATION EU