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The Innovative Enterprise Week in Sofia presented €100 billion research spending plan of the European Commission for the next 7 years

The Innovative Enterprise Week Sofia 2018Financial Instruments Fostering Research and Innovation took place yesterday, 14 June, at Sofia Tech Park to present €100 billion spending plan of the European Commission on the research and innovation for the next 7 years. Bulgaria was hosting the high-level conference, aiming to increase awareness about the plan among EU Member States and European citizens, in Bulgaria and beyond.

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Jean-Eric Paquet, Director General, DG Research and Innovation of the European Commission; Roger Havenith, Deputy CEO of the European Investment Fund; Hermann Hauser, Chair of the Independent High-Level Group of Innovators on establishing a European Innovation Council discussed during 1-day conference the possibilities enhance access to finance for research and innovation in Europe.

The €100 billion proposal is the most ambitious plan ever of the Commission, which represents a 50% increase compared with the previous period, includes €97.6 billion for Horizon Europe, the follow-on to the current Horizon 2020 multiyear spending initiative, and €2.4 billion for the nuclear research program Euratom.

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A particular focus of the conference was to enhance interactions between the financial instruments to help innovative firms access finance more easily: Innovfin, COSME’s financial instruments, European Structural and Investment Funds (ESIF), the European Fund for Strategic Investments (EFSI), European Innovation Council as well as with instruments at regional, national and local level.

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Horizon Europe incorporates policy missions to ensure the effectiveness of research and innovation funding by pursuing clearly defined targets. The Commission has engaged policy experts to develop studies, case studies and reports on how a mission-oriented policy approach will work”, Jean Eric Paquet said.

About Innovative Enterprise Week initiative

The conference is an initiative of the European Commission and a part of the Bulgarian Presidency of the European Council, organized by the Ministry of Education and Science of Bulgaria.

The Innovative Enterprise Week Sofia 2018 conference presented a platform for European entrepreneurs, innovative enterprises, researchers, start-ups, and investors, policy makers and financial intermediaries to meet, network and discover a world of possibilities to make their businesses successful.

The initiative started in 2015 in Riga during the Latvian Presidency and had 6 editions so far, including also Luxembourg, Netherlands, Slovakia, Malta, and Estonia. After Sofia, the Innovative Enterprise Week will take place in the end of November in Vienna, Austria.