Periodic Reporting for period 1 - FINEX (Stimulating and Connecting the FINEST Experimentation Practices and Spaces)
Reporting period: 2024-09-01 to 2025-09-30
FINEX: Stimulating and Connecting the FINEST Experimentation Practices and Spaces
The FINEX project 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 partners. The project brings together Europe’s largest IEs driving the green and digital transition, world leading policy advocates and investors, startup & scaleup networks, EU universities, R&I Centres of Excellence and technology parks with vast experience in deploying experimentation testbeds, living labs, sandboxes, and acceleration tools to transform leading research into market ready innovations.
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 commercialization, which is even more challenging for the more scientific – the Deep Tech solutions in Cleantech. 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.
Key Objectives of the FINEX project are:
To stimulate and interconnect the six targeted IEs (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 solutions with the potential to help Europe achieve Climate and Industrial leadership.
The project is expected to contribute to:
More favourable environment to promote the scalability potential of businesses through better interconnected IEs and providing acceleration support building on the project partners synergies.
Stronger innovation performance, increased competitive sustainability and accelerated transitions to a green and digital society through focusing on Cleantech (to achieve Climate Neutrality), enhancing network connectivity, strengthening and expanding cooperation within IEs by reinforcing their capacity to support existing and emerging EU value chains to open up new markets and customers for EU companies, and contribute to disruptive strategies.
More inclusive and gender equal IEs through reducing territorial inequalities in access to innovation support.
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. Favorable regulations in tandem with supporting experimentation frameworks and support tools turning research into market ready innovations are crucial to allow for the quick uptake of disruptive innovations with the potential to help tackle grand societal and climate challenges.
The FINEX project 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 partners. The project brings together Europe’s largest IEs driving the green and digital transition, world leading policy advocates and investors, startup & scaleup networks, EU universities, R&I Centres of Excellence and technology parks with vast experience in deploying experimentation testbeds, living labs, sandboxes, and acceleration tools to transform leading research into market ready innovations.
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 commercialization, which is even more challenging for the more scientific – the Deep Tech solutions in Cleantech. 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.
Key Objectives of the FINEX project are:
To stimulate and interconnect the six targeted IEs (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 solutions with the potential to help Europe achieve Climate and Industrial leadership.
The project is expected to contribute to:
More favourable environment to promote the scalability potential of businesses through better interconnected IEs and providing acceleration support building on the project partners synergies.
Stronger innovation performance, increased competitive sustainability and accelerated transitions to a green and digital society through focusing on Cleantech (to achieve Climate Neutrality), enhancing network connectivity, strengthening and expanding cooperation within IEs by reinforcing their capacity to support existing and emerging EU value chains to open up new markets and customers for EU companies, and contribute to disruptive strategies.
More inclusive and gender equal IEs through reducing territorial inequalities in access to innovation support.
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. Favorable regulations in tandem with supporting experimentation frameworks and support tools turning research into market ready innovations are crucial to allow for the quick uptake of disruptive innovations with the potential to help tackle grand societal and climate challenges.
The project was successfully kicked off in September 2024. WP3 is completed, other WPs are continuing.
WP1: Project Management and Quality Plan (D1.1) has ensured that management and coordination activities & processes are working well and meet the accepted quality by Consortium and EC. In general, WPs, tasks, deliverables and milestones have been prepared, started and submitted in due time, however, the withdrawal of Climate KIC initiated an Amendment and changed activities in WP3-7 and deadlines of D3.1 D4.1 D4.2 and D6.1. In addition deadline of D7.2 was delayed due to task leader limited competences. Project meetings and reporting have worked well with 26 biweekly project meetings and 3 internal progress reporting & meetings (every 6 months) held. Proper Risk Assessment and Management and Ethics and Responsible Data Management are in place and ensured with the dedicated Plans that have been updated two times (D1.2 & D1.6 and D1.3 & D1.7). The Multidisciplinary Expert Advisory Board (MEAB) setup and engagement has been initiated with 2 online meetings held. Project CED strategy, webpage, support materials and toolkits have been created with the CED Plan (v1 D1.4 v2 D1.8) and Toolkit (D1.5) in place. Approx. 35 LinkedIn posts have been shared to promote WP3-WP7 activities and events to the related IE-s.
WP2: Gender Action Plan has been created (D2.1) inclusiveness and gender equality is monitored regularly at 3 levels (consortium, project activities and wider IE) and updated in the GAP v2 (D2.2). Gender Task Force is in place with representatives from all Partners and 4 meetings have been held.
WP3: CleanTech priority areas selection and validation was finalized in Summer 2024 with the most representative Cleantech priority areas and use-cases selected and validated through 10 sessions, and to be piloted in WP6 that build on the partners strengths, complementarities and potential (D3.1).
WP4: Capacity building - Enhancing Cleantech innovation ecosystems connectivity, resources and competitivity, the FINEX support resources mapped (D4.1) and Experimentation and support tools & services best practices identified (D4.2) and reinforcement of the FINEX support capabilities is ongoing (T4.3) 10 sessions organized with approx. 110 participants in total (of which 50 women) and 6 local sessions coming.
WP5: Attracting & Accelerating Cleantech Innovators is ongoing with the Helpdesk for innovators (D5.1) created, support for innovators continuing through the HelpDesk (T5.3) 14 sessions organized with approx. 223 participants in total (of which 92 women).
WP6: Experimentation spaces and pilots: Action Plan Development & Deployment is ongoing with the FINEX Action plan (D6.1) created, support for the running of the experimentation activities ongoing (T6.3) 6 sessions organized with approx. 89 participants in total (of which 39 women). Matchmaking is also an ongoing process until the end of the project.
Under WP7, a framework for monitoring project implementation and results has been created and is waiting to be implemented. The first version Exploitation, Replicability and Sustainability Plan (D7.2) was developed in 1 month delay. 11 sessions are planned for next reporting period.
WP1: Project Management and Quality Plan (D1.1) has ensured that management and coordination activities & processes are working well and meet the accepted quality by Consortium and EC. In general, WPs, tasks, deliverables and milestones have been prepared, started and submitted in due time, however, the withdrawal of Climate KIC initiated an Amendment and changed activities in WP3-7 and deadlines of D3.1 D4.1 D4.2 and D6.1. In addition deadline of D7.2 was delayed due to task leader limited competences. Project meetings and reporting have worked well with 26 biweekly project meetings and 3 internal progress reporting & meetings (every 6 months) held. Proper Risk Assessment and Management and Ethics and Responsible Data Management are in place and ensured with the dedicated Plans that have been updated two times (D1.2 & D1.6 and D1.3 & D1.7). The Multidisciplinary Expert Advisory Board (MEAB) setup and engagement has been initiated with 2 online meetings held. Project CED strategy, webpage, support materials and toolkits have been created with the CED Plan (v1 D1.4 v2 D1.8) and Toolkit (D1.5) in place. Approx. 35 LinkedIn posts have been shared to promote WP3-WP7 activities and events to the related IE-s.
WP2: Gender Action Plan has been created (D2.1) inclusiveness and gender equality is monitored regularly at 3 levels (consortium, project activities and wider IE) and updated in the GAP v2 (D2.2). Gender Task Force is in place with representatives from all Partners and 4 meetings have been held.
WP3: CleanTech priority areas selection and validation was finalized in Summer 2024 with the most representative Cleantech priority areas and use-cases selected and validated through 10 sessions, and to be piloted in WP6 that build on the partners strengths, complementarities and potential (D3.1).
WP4: Capacity building - Enhancing Cleantech innovation ecosystems connectivity, resources and competitivity, the FINEX support resources mapped (D4.1) and Experimentation and support tools & services best practices identified (D4.2) and reinforcement of the FINEX support capabilities is ongoing (T4.3) 10 sessions organized with approx. 110 participants in total (of which 50 women) and 6 local sessions coming.
WP5: Attracting & Accelerating Cleantech Innovators is ongoing with the Helpdesk for innovators (D5.1) created, support for innovators continuing through the HelpDesk (T5.3) 14 sessions organized with approx. 223 participants in total (of which 92 women).
WP6: Experimentation spaces and pilots: Action Plan Development & Deployment is ongoing with the FINEX Action plan (D6.1) created, support for the running of the experimentation activities ongoing (T6.3) 6 sessions organized with approx. 89 participants in total (of which 39 women). Matchmaking is also an ongoing process until the end of the project.
Under WP7, a framework for monitoring project implementation and results has been created and is waiting to be implemented. The first version Exploitation, Replicability and Sustainability Plan (D7.2) was developed in 1 month delay. 11 sessions are planned for next reporting period.
1) Cleantech priority areas selection and policy recommendations (D3.1)
2) FINEX experimentation resources catalogue (D4.1)
3) Experimentation and support tools & services best practices (D4.2)
2) FINEX experimentation resources catalogue (D4.1)
3) Experimentation and support tools & services best practices (D4.2)