The Innovation Fund as proposed by the European Commission under the reform of the European emission trading system (EU ETS) is a multi-billion-euro funding program to support the demonstration and commercialization of innovative low-carbon technologies in industrial sectors.

BusinessEurope favors the Innovation Fund and has published a dedicated position paper providing suggestions on its design to allow for an easier handling compared to the previously existing fund called NER300, which was problematic in terms of eligibility criteria and risk sharing.

BusinessEurope’s Industrial Affairs Director Alexandre Affre commented: “Innovation is crucial for the competitiveness of EU industry. We therefore support the Commission’s Innovation Fund as a way to stimulate the demonstration and commercialization of innovative technologies in industrial sectors, provided it’s made fit-for-purpose”. In particular, he added: “Projects should be funded based on their technological excellence, risks should not solely be borne by the game changers and the Fund should be more aligned with the design of Horizon2020 (Europe’s framework program for research and innovation). It should also be complementary to other support schemes.” BusinessEurope looks forward to working together with policy makers on this important topic in the near future.

Read the Position Paper –  EU ETS REFORM: MAKING THE INNOVATION FUND FIT-FOR-PURPOSE – here

Source: BusinessEurope

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