In the context of EU-Great Large-Scale RDI Initiatives (LSIs) are essentially public private programmes, which combine finances from different government and private sources. This often requires consortia to raise, combine and administrate funding from different instruments including government grants from regional, national and/or European schemes as well as private investment sources.
As a result a given LSI comprises multiple stakeholders with complementary expectations and objectives.Importantly, LSIs are industry and application led with the underlining aim of bridging the “valley of death”, reducing risk and accelerating commercialisation.
By their very nature Large-Scale RDI Initiatives:
- Run over several years
- Contain a significant degree of uncertainty of outcome
- Require combination of funding from public and private finance sources
- Form part of a national and/or regional economic development strategies
- Comprise multiple partners from industry, government and the research community
- Tend to be holistic taking into consideration wider environmental and societal needs
- Often lead to a paradigm change or giving rise to new markets
- May be led by a single industrial company who is orchestrating a large supply chain; or they can be led by a number of industrial parties
- Combine RDI activities that carry significant level technological and commercial risks
- Often require new research and innovation infrastructure and buildings
- Requires development of a demonstrators, pilot plant and/or installation first market replication