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.
