WHY IT PAYS OFF TO BE INNOVATIVE IN EU
Research and innovation contribute to making Europe a better place in which to live and work. They improve Europe’s competitiveness, boost growth and create jobs. Europe’s future is connected to its power to innovate: to turn great ideas into products and services that will bring growth to our economy and create jobs.
EU is in the state of 'innovation emergency'. Thousands of best researchers and innovators have moved to countries where conditions are more favourable. Although the EU market is the largest in the world, it’s not innovation-friendly enough and other countries like China and South Korea are catching up fast. That's why it will invest €80 billion in the period 2014–20 to help produce new products and services that are competitive for the international market.
COME IN EU FUNDS – THE FAMOUS HORIZON2020
Horizon 2020 is the biggest EU research and innovation programme ever. It will lead to more breakthroughs, discoveries and world firsts by taking great ideas to the market. Almost €80 billion of funding is available over 7 years (2014 to 2020), most of it in three pillars: excellent science, industrial leadership and tackling societal challenges. In addition, this investment should attract private and national public investment.
The goal is to ensure Europe produces world-class science and technology that drives economic growth.
But innovation is prerequisition: If development activities aren't translated into innovation, i.e. value creation from novelty, startups can't take profit from those activities. Great ideas need to be picked up by users, customers and the market, before they can really transform society.
While the Horizon2020 covers 3 big areas, startups are most appropriate for SME Instrument and Fast Track to Innovation Pilot.
SME Instrument gives out between 50.000€ to 2,5 million€.
Fast Track to Innovation Pilot gives out up to 3 million € per project.
European Union is creating favourable conditions for innovative startups:
Improved access to finance
Innovation-friendly rules and regulation
Accelerated interoperable standard-setting
Innovation supported by the public sector
Innovation Partnerships to give EU businesses a competitive edge
Easier participation in EU research and innovation programmes- Horizon2020
Taken from various EU websites and adapted for this post.