-What does strategic social investment look like and how can social policy support it? -How to support people in lifelong learning to ensure adequate livelihoods in a changing world?
and the public and third sectors. o It will promote social innovation through the European Social Fund (ESF) building on the significant investments in social innovation which the ESF has made over the last ten years, all along the innovation cycle.
and sees that investments decrease. However, the sense of ownership and contribution of each individual country to the whole grid is different from how the U s. directs initiatives through its Department of energy.
and securing investments for projects in the energy sector. 2) An overall energy-efficiency action plan (2007†2012) establishes a firm objective of 20%improvement. 3) The European energy infrastructure package identifies smart
Dispositions are taken also to favor international energy (electricity and gas) trade, collaboration and investment, separation of generation and supply from transmission networks, decentralized generation and energy efficiency,
and correspond to an investment of about 190 million. The Seventh Framework Program, the current program, will run until 2013
including on-demand power quality of supply, enhanced reliability, deferrals in transmission investment, and avenues for meeting renewable mandates in the face of growing dis-investments in transmission assets†all of which cater to the smart grid philosophy.
However, the interconnection of DG is a challenge due to the safety, control, and protection issues associated with bidirectional flows of electricity.
and 5) supports transmission-and-distribution (T&d) investment deferral. Energy storage with power-electronics-interfaced units can create virtual rotational inertia, the so-called virtual synchronous generators,
while some conservation programs aimed at deferring investments in new assets (including generating facilities, power purchases,
since mid-1990s following deregulation of the industry, has enabled economic efficiency, fostered investments in technological innovations, and, for the most part,
climate change legislation and energy policy have been linked intimately with a strong impact on investment decisions from private companies.
in order to ensure that each player finds an acceptable ratio between the costs and returns on investments.
capital-upfront investment model to an operational expense, cloud computing promises to enable especially SMES and entrepreneurs the development and adoption of innovative solutions.
and scale back their operations without a major upfront investment. Despite its potential, the level of uptake remains low
and client portfolio Ensuring that social lending platforms for small businesses offer a wide range of financial products (encompassing equity investment,
others, such as Crowdcube in the UK, Seedmatch in Germany or Wiseed in France, provide equity investment,
Saves costs of raw materials, transport, stor-•age, management etc. over relatively short time periods and with generally low-risk investments.
On average, these investments paid off after 13 months. Micro companies achieved high relative savings (comparable to 11%of annual turnover)
Invest in energy efficiency. •Research by the Carbon Trust showed that large UK businesses undervalue the financial returns from investments in energy efficiency by more than half.
Orangebox has set up a recycling centre at their site in Wales achieving a significant return on investment
Impact investment for eco-innovation? Impact investment is investment assessing not only the financial return on investment,
but also the environmental and social impacts in the course of the operations of the business and the consumption of the product or service,
Currently, several crowfunding platforms, such as www. Impactcrowd. com (NL) and www. crowdmission. com (UK), specialise in impact investment for ventures that aim to create environmental, social and economic impact.
and investments made in Europe over the last decade. DSI aims to promote innovation and social change based on the network effect:
and the type of investments made by the European union in this field. The final part of the paper concerns DSI impact evaluation and proposes a methodological framework for assessing specific results in a qualitative and quantitative way.
The investments made by the 2 European commission since 1999 are indeed significant with the largest budgets coming from its Research Development and Innovation framework programme of activities.
Adaptation from Jeremy Heimans Tedsalon Talk (2014) The role of the European union In this policy context we document the investments made by the European commission since 1999.
These actions will make possible to better evaluate the investments made so far; it will also be possible to better understand the replicability and transferability of these initiative at national and local level and in non-European countries.
18 1. 2. 1 The European Investment Bank...23 1. 3 Structure of the report...
This report presents a number of recommendations for actions that are needed to ensure that the EU becomes a more attractive place for investment and education and research opportunities.
practitioners, academics and representatives of institutions such as the European commission, the European Investment Bank and the European Patent office (see list at the T ii FOREWORD end of this report.
but overall innovative investments by businesses still appear relatively weak. Importantly, highly dynamic sectors such as ICT (information communication technology) account for almost one half of EU productivity growth,
a total lack of harmonisation prevents cross-border venture capital investment and the creation of funds in areas where financing for innovation is needed.
high-impact projects receive adequate funding and return innovation and growth on this investment. The European Institute of Innovation and Technology (EIT) is to be a key driver of sustainable European growth and competitiveness through the stimulation of world-leading innovations with a positive impact on economy and society.
and technology transfer support via the European Investment Fund (EIF), the European Investment Bank (EIB) could consider widening the scope of applications, in particular by broadening and deepening risk-sharing operations,
i e. to include innovative services and demand-side measures, such as the lead market initiative or pre-commercial procurement.
On the contrary, it may discourage investment by major players. Access to CRTS does not depend on the removal of IPRS and patents.
Encourage the elimination of tariff barriers for CRTS One serious obstacle to investment by advanced companies in LDCS
TOWARDS EUROPE 2020 An important issue is the ability of the European Investment Bank (EIB) to reach dynamic and innovative small firms
in which SMES suffer from a chronic lack of support for innovative investments, in particular due to difficulties in accessing both public and private sources of funding.
for example the US and Japan in terms of investment in R&d&i. Public funds at EU level are available.
A NEW APPROACH TO INNOVATION POLICY IN THE EUROPEAN UNION 23 1. 2. 1 The European Investment Bank The European Investment Bank Group already leverages EU budgetary funds in support
of R&d&i investment. In addition to cross-border venture capital and technology transfer support via the European Investment Fund (EIF),
the EIB could consider widening the scope of applications, in particular by broadening and deepening risk-sharing operations,
IP financing, technology transfer, seed financing, investment readiness  Target group: VC Funds, business angels  EIF product:
/mezzanine, securitisation  RSFF  RDI financing  SMES/Midcaps, banks, PE investors (sub-investment grade)  Loans (incl.
Mezzanine), funded risk-sharing facilities with banks (investors) Investment lloans4  Investment lloans  RDI financing  Midcaps/Large corporates/public sector
entities (investment grade)  Loans, guarantees Later Stage Counterparts Source: Presentation by Harald Gruber at the CEPS Task force. 5 †Pre-commercial procurement†describes â€oean approach to procuring R&d services other than those where the benefits accrue exclusively to the contracting authority for its use in the conduct
such as senior investment loans. RSFF instead is used to fuel innovation by sub-investment-grade rated firms (Moody†s BBB-or less),
as innovative firms often fall into these rating categories. The EIB chooses firms based on projects that appear mature enough to demonstrate the capacity to repay debt on the basis of a credible business plan.
but overall innovative investments by businesses still appear to be relatively weak, especially if compared to the US
With respect to the EU, US and Japan, the US appears to be a major destination and the EU a major source of R&d investments.
a total lack of harmonisation prevents cross-border venture capital investment and the creation of funds in areas where financing for innovation is needed.
There is a general need to expand private investment and public financial support, and the amount of risk capital from different 34 A NEW APPROACH TO INNOVATION POLICY IN THE EU sources;
o Establishing an integrated venture capital market in Europe o Expanding the permanent risk-sharing products of EIB o Developing tax incentives to support investments in R&d and innovation,
and technology transfer support via the European Investment Fund (EIF), the European Investment Bank (EIB) could consider widening the scope of applications, in particular by A NEW APPROACH TO INNOVATION POLICY IN THE EUROPEAN UNION 35 broadening and deepening risk-sharing operations,
to include, for instance, innovative services and demand side measures, such as the lead market initiative or pre-commercial procurement.
For example, there has been a lively debate over Europe†s huge investment in the ITER project,
and to investments in research by 20 Two cases are taken often as an example of inconsistent results:
Both areas of technology transfer also relate to the impact of public investment into research and, more closely,
One major goal of any policy on innovation should be to pay more attention to the return on investment for public money devoted to research.
the transfer of technology in this field is about ensuring appropriate returns on investments. At the outset, the definition of CRTS is necessary to identify those technologies
since large investments are required along the value chain. Yet, the role of IP protection should be emphasised,
At the same time, though, compulsory licensing brings about negative incentives on R&d investments and business development since returns for technology producers become shaky. 35 The idea was developed first by Cohen and Levinthal (1990),
In this respect, intellectual property rights are still one of the determinants of foreign direct investments (FDI)
Notably, a failure to protect R&d investments abroad due to opportunistic behaviours of competing MNCS or other foreign institutions would result in harm to LDCS,
since in the long run FDIS will be redirected towards those countries that ensure higher standards of protection for R&d investments.
DG RTD Directorate General for Research EIB European Investment Bank EIT European Institute of Innovation and Technology EOTA European Organisation for Technical Approvals EPLA
Electricity and Semiconductor Technology European Patent office Mr. Harald Gruber Head of Division European Investment Bank-EIB H. gruber@eib. org Mr. Andrã
Permanent Representation of Sweden to the EU per. tervahauta@foreign. ministry. se Mr. Kristian Uppenberg Senior Economist European Investment Bank-EIB k. uppenberg@eib
i e. the kind of investments needed to achieve the vision state of technology. After the creating a vision and a roadmap,
Dilemmas for managers include proof of return on investment for health IT versus leadership and tough management decisions;
health information technology, e-health, critical success factors, critical enablers, leadership, physician collaboration investment remains difficult.
The study showed that effective e-health investment does indeed result in better quality and improved productivity,
even if there is a lack of sufficient empirical and quantitative evidence regarding return on investment, particularly in the area of cost containment.
In addition, in all cases, there was a major investment on the part of the Health System Integrator organisation in training,
and †return on investment†studies under the assumption that these will convince leadership to make the commitment and the necessary investment.
and investment in the communication infrastructure for clinical data exchange is a must for a system that will be sustainable over time, in terms of benefit to doctors, patients and the healthcare system.
which do not require a high level of capital investments. Potential strategies, for instance, could be: o Cooperative agreements with local research institutions and/or firms o Outsourcing of parts of the innovation process o To limit the financial burden of setting up
World Investment Report 2005: Transnational Corporations and the Internationalization of R&d, United nations Conference on Trade and Development, Geneva.
G#1v 12692 Investment 0#2#investment Investment G#1v 12725 Mind map G#2v 12726 Idea sun bursting
0#3#idea sun bursting Idea sun bursting G#2v 12727 Mind webs 0#3#mind webs Mind webs 0#2#mind map Mind map
%Investment in Wissenschaftsinstitute Humboldt-Universitã¤t und auã eruniversitã¤re Institute 506 34%60 7%566 24
%Investments WISTA MANAGEMENT GMBH 290 19%72 9%362 15 %Private Investments 197 13%541 64%738 32
%TOTAL 1496 100%840 100%2336 100 %1991-2005 2006-2012 Gesamt GA/GRW: 156 Mio. â
Public and private investment in Adlershof 1991 †2012 Sustainable Development Companies in the Science and Technology Park
Centres, Real estate, Investment 20 Innovation and Business Incubation Centre •Specific †incubation infrastructureâ€oe •Benefits for start-ups:
•Investment: 8. 6 Million euro •Start of Construction: December 2009 •Completion: April 2010
•Investment: 30.5 Million euro •Start of Construction: May 2009 •Completion: May 2011
•Investment: approx. 26 Million euro •Start of Construction: October 2009 •Completion: June 2012
%Infrastructure Investment 495.0 35+70 14 Investment in Res. Institutes 426.9 30+10 2 Investments WISTA 233.1 17+70 14
Private Investments 197.2 14+350 69 Investments Service provider 56.2 4+5 1 TOTAL 1, 408.5 100 505 100
Success Criterion finance model Increasing private investment Services 45 WISTA-MANAGEMENT GMBH Services for Companies
•Comprehensive building infrastructure •Favorable rent and additional expenses •Incubation and promotion of start-ups, Consultation for grants and loans, etc
•Joint project development •Participation in specialized networks •Communication services •Service Packages
•International contacts and support •Local job exchange •Conference and event services •Participation/organization of exhibitions and fairs
•Investment subsidies •Research subsidies •Personel recruitment subsidies 47 Adlershof â€oemarket Access Pointâ€
European Investment Bank (EIB EIB loans LGTT guarantees The Europe 2020 Project Bond Initiative loans
Nordic Investment Bank (NIB NIB loans BSAP Fund grants European Bank for Development and Reconstruction (EBRD
Corridor investments Smart logistics and governance, Clean shipping and Business solutions for green transport. This report is one of the Cluster†s outputs
EU grants with national funding and private investments •Grants that support the cohesion policy of the Union and individual EU
Investment Bank has created its own financing instruments in order to fulfill its specific targets and action plans
and Investment banks such as NIB and EIB are the main lenders Source http://www. eib. org/epec/resources/epec-using-EU-funds-in-ppps-public. pdf
investments in the regions will be a total of 347 Billion euros and about 82 billion Euros will be spent on transportation.
During the budget period 2007-2013 investments to transport sector will be concentrated to the Convergence regions
European Investment Bank (EIB EIB loans EIB€ s main financing instruments are medium and long-term loans with fixed or
covers up to 50%of the investment costs, but the average loan amount is approximately one-third.
lending conditions depend on the investment target and securities that third parties offer Indirect lending or intermediate lending is designed for smaller projects than 25
-investment-bank-launch-new-instrument-to-finance-european-transport-network. htm http://ec. europa. eu/economy finance/financial operations/investment/europe 2020
/documents/annex 2a en. pdf 11/38 Best practices in transport infrastructure financing 1/23/2013 The Baltic Institute of Finland/BSRP Transport Cluster
http://ec. europa. eu/economy finance/financial operations/investment/europe 2020 /documents/com2011 660 en. pdf http://europa. eu/rapid/press-release memo-12-370 en. htm
commitments in Greenfield. 30-40%of the fund†s investments go to core transport sector and the size of the funded projects should be over 200 Million euros
Nordic Investment Bank (NIB NIB loans Nordic Investment bank has several loan products â Corporate loans are the most common way of lending for NIB.
Corporate loans are targeted for NIB€ s member countries â Loan programmes are disbursed in several tranches through intermediates and they
The BSAP-fund is managed by NIB, Nordic Investment Bank and NEFCO, the Nordic Environment Finance Corporation.
European Investment Bank are participating. The EBRD cooperates with other international financial institutions such as the World bank
Direct investments for projects range from 5 Million euros to 230 million Euros. The funding rate is up to 35%of the total project costs
need more private investments. Member states†governments have encouraged the private sector to participate in infrastructure funding by privatization, through
European Investment Bank, The EIB€ s role In public-Private Partnerships PPP models are built often using project finance.
with public grants and private equity investments. Life-cycle costing brings value for money for the private sector
http://ec. europa. eu/economy finance/financial operations/investment/europe 2020 /documents/com2011 660 en. pdf http://www. eib. org/attachments/efs/eibpapers/eibpapers 2010 v15 n02 en. pdf
and the relevance of private investments is increasing. Nevertheless national funding is the backbone for transport infrastructure financing.
Nordic Investment Bank NIB) is financing the first phase of the project by granting a loan of 192 Million euros
investments and expansions The video surveillance system of the terminal was upgraded in 2005. The whole project costs were 1. 3 Million euros and the European Regional Development Fund
participating to the investments. Few examples of ongoing projects and future projects Project year Value Euros/LTL Sources of
the size of the investment. Norway has taken advantage of the Nordic Investment Bank (NIB. Several Norwegian infrastructure projects also in the field of airports
have received loans from NIB. The Baltic states Latvia, Lithuania and Estonia have received funding for airport infrastructure from Cohesion Fund and European
The construction of a total new airport is a massive investment and the risks are
In Berlin Brandenburg airport the investments and risks were transferred to a Special Purpose Vehicle (SPV), Berlin-Brandenburg International Partner (BBIP
The investment consortium collected the necessary funding and carried the risks 23/38 Best practices in transport infrastructure financing 1/23/2013
and EU is supporting investments in the airports. Because of the fast growth in air travelling, the European commission is
demands of the sulphur directive require funding and investments but nevertheless the investments have also other targets and goals, few examples of water
infrastructure projects â The Freeport of Riga, Latvia â The port of Norrkã ping, Sweden
investments would be paid by the port authority. The second phase of the project would be financed from public and private sources.
organization, operations and investments are made at local level, because almost every port is owned by a municipality in Sweden.
What comes to return on investments it is a great failure. The Channel Tunnel consists of three tunnels connecting Britain to the Continental Europe.
European Investment Bank provided the tunnel project a loan, the deal was signed by a group of 50 banks
The European Investment Bank finances nearly half of loan demand and it granted loans from the Nordic Investment Bank
Nordea and other commercial banks. The tripartite agreement protects the lenders interests, because under certain conditions the lenders have a right to stop the PPP
led by the European Investment Bank, which alone will take on over 1 Billion euros of the financing.
Investment Bank provided a 14-year-maturity loan for the project. Also Pohjola Pankki Plc is participating in the financing of the E18 motorway.
roadmap for future†s transport infrastructure investments. According to the EU€ s White paper the infrastructure financing is moving towards full application of â€oeuser
future transport investments The aim of this report was to describe different and available funding sources and
viable which makes it an attractive investment target for private sector. One goal for this report was to represent a wide range of different PPP models
series of framework conditions which enable firms to pursue the necessary investments in R&d and enhance the knowledge content of the product
and will investigate investments associated to innovation; expenditures in R&d both internal and external to the firm;
As such, they consider all the investments associated to: R&d; acquisition of advanced machinery, equipment and software for innovation;
investments purely associated to technological innovation The tables distinguish between intramural and extramural R&d. The former defined as all
around the 35 per cent and the countries with a higher quota of SME investment in
The average level of outsourced investment for SMES was slightly lower than the average internal expenditures:
along with investment in equipment, enhances the likelihood of having both process and product innovation. Both these kinds of
In the previous section we looked at key innovation inputs such as broad investments associated to innovation and expenditures in R&d;
absence of investment in vital infrastructure such as sewage, or starvation and undernourishment in the midst of the world†s food overproduction, among many
so it does not require material investment or large-scale logistics for implementation. Indeed, it could be said that there was an almost immediate passage
project relied, at least from the start, on significant ICT and other infrastructure investments. Such high levels of investment were not necessary in the Naprawmyto case,
but because both smart places cases potentially have a broad focus across different issues and sectors
economically and socially deprived community through significant ICT investment in infrastructure and training which complements more traditional local urban regeneration initiatives.
investment by Medisat itself, which today also functions as a fully commercial operation -Medisat places strong focus on user-friendliness and making it easy for
investment (by Medisat itself), which today also functions as a fully commercial operation. The company
investment and innovation funding. Also, to expand the usage of the Patient Briefcase the plug-in
The barriers which need to be overcome for the type of cooperation, investment and commercialisation represented
originally supported by public innovation funds (both European and Danish) as well as private investment (by Medisat itself),
business investment and innovation and provide support for the capitalisation of Catalan companies Given its key role in spreading technological change,
Catalonia has a long tradition as a favourite destination for direct foreign investment The Government is active in promoting new investment, as well as business
reinvestment and expansion Good infrastructure is a key condition for attracting and consolidating the presence of
promotes access to credit for investment, innovation and internationalisation, and supports the capitalisation of businesses so that they can improve their solvency and
financial institutions, guarantees, capital risk funds, co-investment, etc..It is also important to promote channels of access to finance
include, for example, new public-private partnership models, investment networks and partner search mechanisms 6. 4. Promoting the strategic adaptation of businesses to the
International competition to attract foreign investment is growing, and the number of investment projects at European scale is falling.
Therefore, it is necessary to identify specific product and service lines that can generate investment projects and sectors
and companies in Europe that currently have investment capacity and then draw up proposals aimed at selling specific investment projects
6. 4. 5. Fostering the transition of companies to activities with higher added value For a country with a highly heterogeneous production sector based on strong industrial
traditions, and in which nearly 98%of all enterprises are SMES, cluster policies are vital
high growth potential (growth acceleration network, public investment, seed capital business angels, etc. to foster the consolidation of projects with the greatest potential
Whilst it has been demonstrated amply that investment in sustainability generates economic and competitive advantages for the production
providing aid for investment and research into machinery and technology for waste minimisation and energy generation from waste
create barriers against trade, investment, the creation of businesses and the efficiency of the economy in general.
attract foreign investment and facilitate the creation of new companies. The â€oenew Legal Office†project will enable common
consequence of insufficient State investment. Moreover, the centralised management model applied to ports and airports restricts the contribution that such infrastructure can
and major public investment projects needed the Catalan Government calls for the devolution of powers from Central Government to
supervision of investment plans drawn up by electricity and gas marketing companies Providing latest-generation land and mobile telecommunications networks is also
Investment and continuity Joint investment and development involving users, governments, academic and ï nancing institutions
and agencies, technical co-operation agencies and industry interests is seen as necessary. Partnerships with the informatics industry are fundamental and, in the case of general informatics tools, the industry practically
investment, and regulation. Governments must establish mechanisms to create or secure markets for new technologies,
return on investment in ICT for the private health subsector Ëoe Governments and regulatory bodies have the rationale,
providers, such as investment, insurance, knowledge dissemination, and healthcare applications, present possible challenges to developing countries of ï ight of capital, tax evasion and employment reduction by oï €shoring
competition, return on investment and regulation
NEMO 21st Annual Conference Documentation Bucharest, Romania, November 2013 Museums in the Digital Age Museums and the Development
courage and high investment, started to digitise and make more information accessible online. The Google books Project, the most
which will require both investment and effort to install 18 •Organisation-many projects will involve
only calls for investments in new technologies but also demands more inclusive and expansive ways of working and thinking
combined public and private investment levels in this sector to 3%of the EU's GDP
in investment banking. He has held positions as a Government Policy Advisor and is currently the
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