FINEX: Stimulating and Connecting the FINEST Experimentation Practices and Spaces
FINEX project – funded under the Horizon Europe Programme – aims to support the quick deployment and uptake of Cleantech solutions and the development of supporting regulatory frameworks through building on world class experimentation practices, networks and experience of its partners.
The project brings together two of Europe’s largest innovation ecosystems driving the green and digital transition (EIT Digital and EIT Climate KIC), one world leading policy advocate and investor, startup & scaleup network for Cleantech (Cleantech Group), three EU R&I Centres of Excellence (FINEST CoE, KIOS CoE, GATE CoE) and one technology park (Sunrise Valley Science and Technology Park) with vast experience in deploying experimentation testbeds, living labs, sandboxes, and acceleration tools to transform leading research into market ready innovations, and Riga Technical University with a specific ‘Innovation Ecosystem Development Unit’ specialised in digital and cleantech technologies with various international education, business support, research and networking programmes.
For solving the climate crisis in practice, we need to accelerate the scaling of breakthrough Cleantech products & solutions – novel technologies and related business models offering competitive returns for investors and customers while providing solutions to global societal challenges. However, in practice and contrary to the previous definition, many Cleantech startups face investment and other difficulties as they approach commercialisation, which is even more challenging for the more scientific – the Deep Tech solutions in Cleantech, which are the core interest of our approach. These barriers are reflected in the VC investment statistics – the number of EU companies receiving late-stage funding has barely increased over the last five years.
Access to suitable experimentation facilities can help Cleantech startups to test and demonstrate their solutions, giving investors’ confidence in the technical soundness of the solutions. Regulatory changes, on the other hand, can lift barriers related to market adoption of new technologies and solutions. Favourable regulations in tandem with supporting experimentation frameworks and support tools to help turning research into market ready innovations are vital key ingredients to allow for the quick uptake of disruptive technologies and innovations with the potential to help tackle grand societal and climate challenges. If we are serious about reaching our climate goals, while driving Europe’s industrial competitiveness agenda in a global world, we need to accelerate the twin – green and digital – transition.
Objective
Key Objectives of the FINEX project are:
- To stimulate and interconnect the six targeted Innovation Ecosystems (FI, EE, LV, LT, BG and CY) as Europe’s Cleantech powerhouse, enhancing their gender-inclusiveness, openness, competitiveness, and global potential.
- To jointly develop world-class experimentation spaces and the promotion of a better aligned EU regulatory, fiscal and legal framework.
- To identify and support Cleantech domains and innovators requiring the development of experimentation spaces capable of supporting the quick deployment of disruptive and novel Deep Tech and solutions with the potential to help Europe achieve Climate and Industrial leadership.
Duration and partners
Duration: September 1, 2024 – August 31, 2026 (24 months)
Partners:
- EIT Digital (BE)
- HEC Paris, (FR)
- Cleantech Group France (FR)
- KIOS Center of Excellence for Research & Innovation, University of Cyprus (CY)
- Sunrise Valley Science & Technology Park (LT)
- Riga Technical University (LV)
- The Big Data for Smart Society Institute (GATE), Sofia University St. Kliment Ohridski (BG)
- Aalto University (FI)
- FinEst Centre for Smart Cities, TalTech (EE)
Funding
Funding source: HORIZON Coordination and Support Actions, European Innovation Council and SMEs Executive Agency (EISMEA), grant agreement No. 101158370
Budget: total budget is 999 995,32 EUR (TalTech’s part is 155 718,75 EUR).
Sustainability and responsibility
The project is specifically focused on facilitating the tackling of the climate crises through supporting the quick deployment and uptake of Cleantech solutions and the development of supporting regulatory frameworks through building on world class experimentation practices, networks and experience of its partners.
The project ensures a broad geographical, cultural and gender inclusive scope with unique opportunities and needs for accelerating the development of a vibrant Cleantech cross-border and connected innovation ecosystem, having the majority of its target regions from less connected and developing innovation ecosystems. Building on a group of very strong partners to help connect the FINEX IEs.
The role of FinEst Centre for Smart Cities
FinEst Centre for Smart Cities coordinates the project by overseeing activities, tracking progress, and ensuring compliance with legal, ethical, and contractual requirements. We manage the project finances, identify and address risks and opportunities, create an Ethics and Data Management Plan, and provide open access to research data when possible. Also, FinEst Centre coordinates, monitors and conducts project communication and dissemination activities.
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or European Innovation Council and SMEs Executive Agency (EISMEA). Neither the European Union nor the granting authority can be held responsible for them.
