EU to focus on science, start-ups, industry to keep industrial leadership

The second European Industry Day concluded on Friday, during which science, start-ups, and industry were emphasised to be the focus for Europe to stay as an industrial endeavor.

Carlos Moedas, European commissioner for research, science and innovation said during the conference that science, start-ups, and industry were the momentum for Europe to lead the next wave of innovation.

According to a European Commission statement, to support these three areas, the European Union (EU) will invest more than 20 billion euros (24.6 billion U.S. dollars) directly in industry and promote industrial projects which collaborate with private sector partners to boost innovation.

In addition, a European Innovation Council (EIC) is to be set up to link start-ups with corporates, and help start-ups access partners across value chains, said the statement.

Notably, the EIC Horizon Prize on Innovative Batteries for e-Vehicles was launched during the conference to award 10 million euros (12.3 million U.S. dollars) to those who can develop a safe and sustainable battery for electric vehicles, which is a main focus of the EU car industry.

The first European Industry Day was initiated in February 2017. It serves as a forum for European stakeholders from industrial sectors, finance, research and innovation, public government and administration to develop joint visions for the future.