The European Association of Innovation Consultants (EAIC) welcomes the recovery and resilience facility which will allow faster recovery from the pandemic and renew Europe for better competitiveness. However, we suggest acting in a more coordinated way between Member States to ensure the funds allocated will be properly and efficiently spent. As experts around Europe on innovation funding, EAIC offers its support in advising how to improve national innovation policies to maximise industrial investments, find best partners and balance competence gaps between Member States and Regions.
The EU’s long-term budget, coupled with Next Generation EU (NGEU), the temporary instrument designed to boost the recovery, will be the largest stimulus package ever financed through the EU budget (€1.8 trillion). The European Association of Innovation Consultants (EAIC) applauds the initiative of the European Commission and considers the NGEU (€750 billion) absolutely necessary at this time.
As a reminder, The Recovery and Resilience Facility is the centrepiece of Next Generation EU with €672.5 billion in loans and grants available to support reforms and investments undertaken by EU countries. The aim is to mitigate the economic and social impact of the coronavirus pandemic and make European economies and societies more sustainable, resilient, and better prepared for the challenges and opportunities of the green and digital transitions.
To read the complete EAIC’s position paper, please click on the download below.