The European Association of Innovation Consultants published its first collective report to help European Commission in their work to inform the industries on the deployment of Next Generation EU funding instrument, the largest economic stimulus ever funded by the EU. As one of the founding members of EAIC, Spinverse has also contributed to this report, called "A Guide to Next Generation EU for industry to better understand and seize its opportunities".
The recent COVID-19 pandemic has impacted all walks of life everywhere in the world, including companies of all sizes. To overcome this crisis and to strengthen and transform our economy by making it greener, more digital and more resilient, and by creating new opportunities and more jobs, the Commission has launched a temporary instrument called Next Generation EU. It will raise the EU budget to a huge 2.018 trillion euros.
Spinverse founder and chairman Pekka Koponen, who is also the President of EAIC, says of the guide: "Next Generation EU is the biggest innovation funding opportunity for European Industry in EU history. Its potential to boost green and digital transition of the continent is unforeseen. However, it is not easy to get. Funding is distributed through hundreds of regional, national and EU-instruments in all EU languages. Domestic partner is often needed, while many times there are no competitive domestic suppliers available."
He continues: "The market is showing signs of overheating in many industries already now when distribution of funding only begins. Therefore, finding committed partners, becomes even more important. Managing resulting projects requires specific skills as well. For all these issues competitive advice is needed. This is why we made this guide.”
Specific information provided for member countries
At the moment, the guide, which will be regularly updated, covers 21 countries. Spinverse contributed to the information related to Finland, Lithuania and Sweden. To mention a few examples, the guide provides country-specific information on the investments the Next Generation EU will fund in each country and what kind of reforms are being planned. In addition, the guide will explain the key public actors in each member state and other relevant sources of information in the member states. The guide will also provide a country-specific budget allocation as per the following funding instruments:
- Recovery and Resilience Facility
- ReactEU
- Just Transition Fund
- European Regional Development Fund
- European Social Fund
- Cohesion Fund (where applicable)
- European Maritime and Fisheries Fund
- European Agricultural Fund for Rural Development.
More information:
- A Guide to Next Generation EU for industry to better understand and seize its opportunities
- Innovation consultants decode EU pandemic recovery plans (Science Business 20.07.2021)
- EIAC Press release: Next Generation EU made easy
Would you like to know more about the growth opportunities through the Next Generation EU for your company? Do not hesitate to contact our funding experts!
About EAIC
The European Association of Innovation Consultants (EAIC) gathers active Innovation Consultants in the field of European research and innovation projects. The group aims to facilitate the exchange and promotion of best practices and success stories, as well as to uphold professional skills and expertise in European RDI projects. Today, the group gathers 50 members, active in more than 24 countries around Europe.