In line with a Eurobarometer survey performed by the European Fee in 2020, round 45% of SMEs discovered the applying course of for EU funds to be complicated and bureaucratic. This means a big problem for a lot of startups and scale-ups navigating the panorama of EU-funded alternatives and policy-related challenges. To handle these points and streamline the trail for innovators, the Innovation Radar Bridge challenge goals to simplify processes and improve connectivity between EU-funded innovators, buyers, and policymakers.
To make it simpler for European innovators to develop to the following stage, EU-Startups, Dealroom, and Dealflow have come collectively underneath the umbrella of the “Innovation Radar Bridge” challenge. This collaboration, funded by the European Fee, goals to strengthen connections between EU-funded innovators, buyers, and policymakers, and foster better market uptake of EU-grown improvements.
How will Innovation Radar Bridge obtain this? By way of a collection of impactful occasions and insightful studies over the following two years, addressing the actual challenges confronted by EU-funded startups and scale-ups and providing potential options.
Efforts are already underway. Two vital occasions have already taken place: the launch occasion in Brussels and the primary coverage occasion through the EU-Startups Summit. These occasions ignited new conversations and outlined the efforts, challenges, and constructive outcomes that the startup ecosystem faces in Europe. Each occasions emphasised the necessity for insurance policies that promote innovation and competitiveness.
The Coverage Puzzle: Insights and learnings from panel discussions
The EU-Startups Summit held in Malta this Might and the launch occasion in Brussels earlier within the 12 months served as platforms for Innovation Radar Bridge’s policy-related occasions. These gatherings introduced collectively EU-funded innovators, policymakers, buyers, and media to debate the present panorama and brainstorm options. Audio system from the European Fee, European Parliament, European Innovation Council, Malta Enterprise, enterprise capitalists, ESNA, founders, innovators, and researchers highlighted the collaborative spirit wanted to attach key gamers throughout the European startup ecosystem.
The occasions recognized policy-related challenges, brainstormed options by way of dynamic discussions, and leveraged alternatives throughout the European startup panorama. They aimed to interact buyers and policymakers and spotlight untapped funding alternatives inside EU-funded Analysis and Innovation Programmes. Thijs Povel of Dealflow and Yoram Wijngaarde of Dealroom supplied an summary of the EU innovation and enterprise capital ecosystem and launched a matchmaking platform to deal with some challenges. Whereas Europe generates many progressive concepts, it lags behind the US and different areas in securing non-public funding, underscoring the necessity for more practical methods to draw non-public funding.
Insights from the Innovation Radar Bridge Occasions
- Transitioning analysis to market: Connecting laboratory analysis with market alternatives is paramount. Initiatives like Horizon Europe play a significant function in facilitating this transition, enabling analysis breakthroughs to evolve into industrial successes.
- Enhancing investor consciousness: Rising consciousness amongst buyers about EU programme alternatives is prime. Growing sturdy mechanisms to establish and assist promising startups will bridge the hole between innovation and funding, invigorating the startup ecosystem.
- Simplifying processes for startups: Streamlining administrative processes and lowering bureaucratic hurdles are important for startups. Enhancing agility by way of efficient engagement with the non-public sector will allow startups to function extra easily and scale extra effectively.
- Coverage harmonisation: Standardising definitions of startups and scaleups throughout Europe is essential for making a cohesive market. Harmonised insurance policies and assist mechanisms are wanted to keep away from fragmented programs that may stifle progress and scalability.
- Navigating complexity: Understanding the nuances of EU funding terminology and overcoming bureaucratic challenges are vital hurdles. Efficient steerage and sources are required to assist startups navigate the complexities of securing and utilising Euro Funding, which encompasses the varied EU initiatives and monetary assist aimed toward fostering innovation and market progress.
- Strategic recommendation and networking: Strategic networking and significant partnerships are important for startup success. In search of tailor-made advisory assist and interesting in substantial networking actions, reasonably than simply taking part in generic occasions, can result in extra impactful collaborations and alternatives.
- Securing Non-public Funding: Attracting non-public funding stays a urgent want. Implementing efficient methods to assist the commercialisation of European analysis and growth is essential for addressing funding gaps and accelerating innovation.
Coverage perceptions: Survey
As a part of the Innovation Radar Bridge challenge, a survey was performed amongst EU-funded innovators to gauge their experiences and views on EU insurance policies. The outcomes spotlight a posh relationship with EU our bodies, the place interactions are sometimes perceived as difficult and in want of enchancment. Innovators emphasised the necessity for more practical communication channels and responsive assist programs to boost the implementation of EU insurance policies and foster a extra collaborative atmosphere.
Regardless of these challenges, the survey additionally revealed that EU insurance policies usually have a constructive affect on innovation tasks. Advantages equivalent to elevated funding alternatives, streamlined regulatory processes, and enhanced collaboration have been famous. Nevertheless, innovators expressed a need for clearer rules, notably regarding well being information, and extra constant enforcement of insurance policies throughout member states. Addressing these areas may considerably contribute to a extra supportive and cohesive atmosphere for innovation throughout Europe.
Addressing challenges: Cross-border hiring and forms
One of many vital challenges highlighted is cross-border hiring and forms. Navigating totally different authorized frameworks, employment rules, and administrative processes throughout EU international locations might be cumbersome and time-consuming for startups. Simplifying these processes may considerably improve the benefit with which corporations develop and function throughout borders.
In parallel, initiatives like ESNA are main the European Agenda for Startups, specializing in connecting the European Fee, Member State Governments, and Nationwide Entrepreneurship our bodies. By fostering extra startup-friendly insurance policies and bettering communication and collaboration amongst these stakeholders, ESNA goals to streamline assist for entrepreneurs and improve the general startup ecosystem in Europe.
Arthur Jordão, the Govt Director of ESNA, mentioned: “Europe as a complete is dedicated to creating extra beneficial situations for startups. 27 European international locations agreed to implement the identical eight game-changing requirements on the nationwide stage. Finally, this may create a stage enjoying subject throughout the continent and lead to tangible progress in the direction of the imaginative and prescient of a harmonised Europe.”
New horizons: The DMA and AI Act’s affect on Europe’s startup ecosystem
The Digital Markets Act (DMA) and the AI Act are set to usher in a brand new period of alternative and innovation throughout the European tech panorama.
The DMA is making a extra equitable atmosphere by enabling the institution of third-party app shops and enhancing entry to essential applied sciences equivalent to NFC antennas. This regulatory shift is designed to democratise the market, permitting rising startups to compete on a extra stage enjoying subject. towards established tech giants. By selling transparency and equity, the DMA goals to foster a aggressive ecosystem the place European tech corporations can rise to prominence on the worldwide stage. This coverage not solely helps the expansion of recent entrants but additionally strengthens Europe’s place as a frontrunner in technological innovation.
Digital markets act and Apple: A case for honest competitiveness
The European Fee has raised issues about Apple’s App Retailer guidelines underneath the Digital Markets Act (DMA), which can prohibit app builders from directing clients to various buying choices. The DMA goals to make sure honest competitors by permitting builders to steer clients in the direction of extra aggressive presents. The Fee’s investigation into Apple’s practices underscores the DMA’s function in selling a clear and equitable digital market.
As well as, the AI Act introduces the primary complete authorized framework for Synthetic Intelligence, positioning Europe as a world chief in reliable AI. This laws establishes clear necessities for AI builders, aiming to mitigate dangers whereas lowering administrative and monetary burdens, particularly for SMEs. A part of a broader initiative, together with the AI Innovation Bundle and the Coordinated Plan on AI, these measures improve security, moral requirements, and basic rights related to AI, whereas boosting funding and innovation throughout the EU.
Collectively, the DMA and AI Act signify a big step ahead in making a supportive and dynamic startup atmosphere. Be certain that to remain tuned about Innovation Radar Bridge’s subsequent occasions to take part within the subsequent spherical of discussions in individual and be part of our new Slack channel to be a part of the dialog on-line