K4I Forum European Innovation Area Summit 2023

About the European Innovation Area Summit 2023

The upcoming 15th European Innovation Summit, taking place in the European Parliament in Brussels, will explore the strategies and technologies that can help achieve Europe’s Green Deal's ambitious objectives. These objectives span a wide range of areas, from decarbonization and renewable energy sources like green hydrogen and wind power to the transformation of food systems and the challenges of resource scarcity as well as the need for advanced materials and a powerful circular economy. The summit recognizes the pivotal role of digital, green and deep technologies in driving these changes, but also emphasizes that the planet's boundaries are non-negotiable.

While technological solutions are paramount, the summit will also spotlight the importance of sustainable finance and impact investing. The EU's sustainable finance agenda, particularly the "Green Deal Industrial Plan," seeks to bolster the transition to aclimate-neutral economy by promoting private funding for sustainable projects.Numerous EU funding programs, such as Horizon Europe including EIC and EIT, the Recovery and Resilience Facility and REPowerEU, offer support. However, the complex landscape of these funding opportunities can be daunting for startups and innovative businesses.

Key institutions like the European Investment Fund (EIF) and the European Investment Bank (EIB) are strongly supporting the climate tech sector, with investments and guarantee schemes that align with the Green Deal's goals. In the backdrop of rapid technological advancements and intense global competition, the European Union is at a crossroads. The summit's discussions on ‘Accelerating Green’ and 'Competing Green,' will dive into the EU's strategy to emerge as a global leader in the clean industrial revolution. Central to the discourse will be strategies to attract more funding to European clean tech industries from private investors and by means of the Strategic Technologies for Europe Platform (‘STEP') and the feasibility of a "European Sovereignty Fund".

The conference aims to provide a comprehensive view on Europe's green transition, focusing on sustainable technologies, finance, and a supportive legislative framework.

The importance of research and innovation for the green and digital transition

With substantial investment from initiatives like Horizon Europe, which dedicates a significant budgetary allocation towards climate objectives, biodiversity, and digital transformation, Europe is well-positioned to convert scientific discovery into practical, market-ready green technologies.

Turning scientific knowledge and research outcomes into new green and digital businesses is a major opportunity for European startups and innovative businesses that drive the transformation towards a green and circular economy.

Together with European Partnerships, EIC and EIT, Technical universities, leading incubators and entrepreneurship centres as well as investors the summit will show ways how Europe can capitalize on its strong research and knowledge base in support of startups and innovative businesses, leading globally the green and digital transition.

The summit will also feature emerging renewable energy technologies, take a deep dive into the challenges to access critical raw materials for the green transition, present climate geoengineering solutions and introduce emerging Research & Innovation Networks involving candidate,accession as well as third countries.

Members of the European Parliament