Commission names panel of innovation advisors
European Commissioner for Research, Science and Innovation Carlos Moedas has taken a step towards a European Innovation Council (EIC) as he names 15 investors and entrepreneurs to advise on budget improvements.
The commission named a panel of 15 top innovation advisors to suggest better ways to spend its €2.5bn innovation budget and pave the way to a new EIC.
The group includes venture capitalist, Hermann Hauser; two prominent European Web entrepreneurs, Taavet Hinrikus of TransferWise and Paddy Cosgrave of Web Summit; Ingmar Hoerr, co-founder of a biotech firm, CureVac; and a Dutch prince, Constantijn Van Oranje-Nassau.
Moedas said: “I am delighted that we have managed to attract such a high-calibre group of innovators operating in different fields to assist the commission in designing a European Innovation Council.
“I am confident that they will bring a vital user perspective, helping us to establish an EIC that is fit for purpose and focused on boosting the quality of EU support for breakthrough, market-creating innovation on which Europe’s prosperity increasingly relies.”
Moedas first proposed the idea of a new innovation funding or advisory body in 2015. He said that additional effort was needed to help scale up more world class tech companies in Europe, and help innovators find support from Brussels.
The commission recently agreed to apply some €2.5bn to expand support for innovation in what it calls a ‘preparatory phase’ for a future EIC. It said the money will be spent targeting “breakthrough innovation projects with the potential for scaling up”.
