Europe faces the challenge to boost the translation of lab-scale research outcomes into commercialised products and services, in order to boost industrial competitiveness, economic growth and job creation. This demands a boost in finance strategically targeted at research, development innovation (RDI) initiatives that help entrepreneurs to bridge the “valley of death” gap. To achieve this Europe needs to increase the number and financing of large-scale RDI initiatives.
Stakeholders of large-scale RDI initiatives often face the need to apply for and combine funding from different public and private sources including European Structural and Investment Funds (ESIF), Horizon 2020, national, regional and private investment programmes in to order form a portfolio of synergistic projects.
EU-Great! focuses on investigating the best approaches adopted and barriers encountered by stakeholders when combining funds from different public and private finance sources at European, national and regional level to co-finance large-scale RDI initiatives - specifically to translate successful research results and lab-scale prototypes into demonstrators, production pilot-lines, first market replications and commercialised products and services.
Industrial stakeholders of such initiatives face the task and challenge of administrating multiple projects that have different finance rules, audit, legal frameworks and state aid implications along with the risks and uncertainties that comes with the research and innovation activities. For governmental stakeholders they pose the challenge of effectively monitoring progress, outcomes and impacts.
Through interaction and dialogue with industrial, research and government stakeholders the EU-Great! consortium will identify, analyse, validate through interactive workshops, disseminate and publish best practices successfully adopted by consortia in forming and managing large-scale RDI initiatives.
EU-Great! will also make recommendations to policy-makers to improve the administrative and policy framework. The outcomes of EU-GREAT! will assist and guide the European Commission services in designing and delivering further actions to facilitate greater synergies among public and private funding programmes.