EU's AI Strategy Falls Short

The European Court of Auditors (ECA) has issued a critical report on the European Commission's (EC) strategy for artificial intelligence (AI), highlighting significant shortfalls. The report reveals that the EU underspent on AI by €600 million due to delays in the 2021 launch of Horizon Europe.

Key Failings Identified

The ECA's audit identifies several key issues that have hindered the EU's AI strategy:

  • Lack of Post-Project Checks: There were insufficient mechanisms to monitor projects after their completion.
  • Fragmented Management: A disorganised array of departments and agencies were responsible for AI policy, leading to inefficiencies.
  • Inadequate Performance Indicators: The EC lacked an accurate overview of funded AI projects, impeding effective monitoring and evaluation.

Mihails Kozlovs, the ECA member who led the review, emphasised the need for the EC to enhance its focus on delivering results. "More than five years after adopting the EU AI plan, weaknesses in implementation and performance monitoring are still evident," he stated at a press conference.

EU Commission's Defence

In response, the EC defended its record, rejecting many of the ECA's proposals. The EC highlighted the establishment of the European AI Office, which aims to enforce the new AI Act and bolster support schemes. Despite these advancements, the ECA's findings come at a crucial time, as the EU continues to trail the US and China in AI development, particularly in patents and private investment.

Comparative Investment Figures

According to the Organisation for Economic Co-operation and Development, the US led in AI venture capital funding in 2023 with €55 billion, followed by China with €18 billion, and the EU with just €8 billion - a significant drop from 2022.

Historical Context and Strategy Implementation

The audit traces back to 2018 when European governments began releasing ambitious AI plans. The EC’s strategy included significant investments through the Horizon 2020 and Horizon Europe programs. While nearly meeting its spending targets for 2018-2020, the EC fell short by €600 million for the 2021-22 period due to delays in Horizon Europe's adoption.

Expert Opinions

Robert Praas, an AI specialist at the CEPS think tank, deemed the audit an "accurate assessment" of the EU's slow progress in AI innovation. He attributed this to a gap between political ambition and implementation capability, suggesting that the EU's regulatory focus hindered its innovation potential.

Coordination and Fragmentation Issues

The ECA pointed out the absence of a central coordinating body for AI projects, leading to overlapping and fragmented efforts. For instance, three different AI taxonomy projects were funded by various EU bodies without coordination, exemplifying the management inefficiencies.

Performance and Exploitation Challenges

The audit highlighted that while Horizon projects were monitored during their lifetime, post-completion checks were lacking. In many cases, research did not translate into commercial applications. A cybersecurity project on autonomous cars, for instance, failed to commercialise despite an extensive 117-page exploitation plan.

Furthermore, the audit found that per €10 million spent on AI in Horizon 2020, only 0.65 patents were applied for, well below targets.

EC’s Response to Recommendations

The EC agreed to update its AI investment targets considering the rise of generative AI but rejected the ECA's calls for a new framework for tagging and tracking AI financial support, citing cost and burden concerns. It also dismissed the need for AI-specific performance targets, arguing that existing indicators under Horizon Europe and Digital Europe were sufficient given the fast-evolving nature of AI technologies.

The ECA’s report highlights the need for improved coordination, monitoring, and strategic focus if the EU is to enhance its competitive standing in the global AI landscape.

by Dayne Hodgson

Immersive Technology in Mental Health

Innovate UK’s £20 million Mindset programme is driving the growth of immersive digital mental health solutions in the UK.

A series of events are planned around the UK where you can find out more about funding opportunities, and the Mindset-XR Innovation Support Programme delivered by Health Innovation Network (HIN) South London.

These events are a great opportunity to:

  • Hear from innovators in this exciting and developing field and learn more about why this is important for mental health services.
  • Meet some of the current Mindset-XR award winners and XR innovators.
  • Hear about upcoming funding for Mindset-XR Round 3.

Who should attend? Anyone interested in mental health and immersive technology, including but not limited to:

  • immersive tech companies
  • clinicians
  • researchers /academics
  • innovators
  • regulatory/ legal organisations
  • voluntary sector
  • creatives with an interest in mental health
  • people with lived experience

The events are taking place in the follow cities:

  • Leeds - 25th June
  • Glasgow – 27th Jun
  • London – 2nd July
  • Cardiff – 8th July
  • Exeter – 19th July

To register your attendance, please click here.

by Dayne Hodgson

UK-Canada: £3m Biomanufacturing Fund

Innovate UK is partnering with the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to invest up to £3 million in innovative biomanufacturing projects. This initiative, part of the Canada-UK: Biomanufacturing of Biologics and Advanced Therapies Round 2, aims to propel the development and implementation of cutting-edge technologies in biomanufacturing, fostering flexibility and technical capabilities essential for the sustainable production of next-generation vaccines and therapies.

Goals and Objectives

The primary goal of this competition is to stimulate technological advancements in biomanufacturing. By encouraging bilateral research and development (R&D) collaborations, the initiative seeks to position both the UK and Canada to effectively respond to future health emergencies. Proposals must focus on innovative technologies that enable flexible, scalable, efficient, and cost-effective manufacturing of novel biological therapeutic products and delivery systems. Moreover, projects must demonstrate a high potential for commercialisation, emphasising the economic viability and practical application of the proposed technologies.

Focus Areas

Projects can focus on various areas, including:

  • Enabling technologies for biologics and advanced therapeutics
  • Delivery systems for proteins and nucleic acids
  • Novel biological products (e.g. vaccines and therapeutic proteins).

The competition seeks a portfolio approach, funding a diverse array of projects across different technologies and themes.

Competitive Application Process

Participation in this competition entails entering a competitive process. The deadline for applications is Wednesday 26th October 2024, closing at 11am UK time/ 9am PDT/ 12pm EDT).

For Canadian applicants, registration and submission of an Expression of Interest (EoI) by 2nd July 2024, are prerequisites for eligibility. Only Canadian micro, small, or medium-sized enterprises (SMEs) can apply, and failure to complete an EoI disqualifies them from funding.

UK participants must be part of an application submitted to Innovate UK, while their Canadian counterparts submit a parallel application to NRC. Both applications are reviewed independently by Innovate UK and NRC, with funding decisions made jointly. Successful projects must secure grant funding from both Innovate UK and NRC to proceed.

Project Criteria

Eligible projects must request no more than £600,000 for UK organisations and no more than CA$1 million for Canadian partners. Projects should start by 1st April 2025 and conclude by 31st March 2027, lasting between 12 and 24 months. Importantly, projects must commence on the first of the month, as reflected in the grant offer letter.

Balanced Collaboration and Commercial Exploitation

Collaborative projects must involve at least one UK registered SME and one Canadian incorporated SME, with a balanced distribution of total eligible project costs among partners. Projects should predominantly take place in the UK and Canada, aiming for a balanced contribution of efforts and resources. Additionally, proposals must clearly outline the intention to commercially exploit the results, either domestically or globally.

Restrictions and Compliance

Under current restrictions, the competition will not fund any procurement, commercial, business development, or supply chain activity involving Russian or Belarusian entities. Furthermore, all project costs included in the application must be eligible under the specified guidelines.

Leading and Partnering Organisations

To lead a project, the organisation must be either a UK registered business of any size or a Canadian incorporated, profit-oriented SME. The collaboration must involve at least three eligible, grant claiming organisations (1 from Canada and 1 from the UK, with at least 1 more from either the UK or Canada). Each UK partner organisation must be invited into the Innovation Funding Service (IFS) by the lead to collaborate on the project.

Subcontractors and Non-Funded Partners

The competition allows for subcontractors, with UK subcontractor costs limited to no more than 20% of the organisation's total eligible costs. Subcontractors can be from the UK and Canada, and the use of subcontractors from other countries requires a detailed rationale.

What To Do Next?

For a free consultation to discuss your project further, contact RedKnight today.

by Dayne Hodgson

Global Innovation Summit 2024

Eureka's Global Innovation Summit takes place on the 13th and 14th June and is organised by the Turkish Chair team at the Scientific and Technological Research Council of Türkiye (TÜBİTAK).  The flagship event attracts SMEs, corporates, private investors and policymakers and this year’s theme is Bridging Green and Digital Transformation.

Scheduled to convene stakeholders from a vast spectrum of industries and sectors, the summit aims to fortify collaboration, exhibit ground-breaking projects, and bolster cross-border partnerships within the extensive Eureka network.

The summit offers an wide array of sessions tailored to diverse interests and fields, encompassing thematic discussions, dynamic pitching sessions, and comprehensive country presentations. This platform is meticulously designed for participants to delve into the latest trends, explore innovative funding mechanisms, and adopt best practices in the realms of research and innovation.

One of the summit highlights is the Türkiye EUREKA Innovation Awards, which acknowledges and celebrates outstanding projects within the network that have made significant contributions to their fields. These awards shine a spotlight on the achievements of the innovators and inspire other members of the community to strive for excellence and impact.

Key thematic sessions at the summit will focus on crucial areas such as the green transition and digitalisation. These discussions are more relevant than ever as they address the urgent need for sustainable development and technological advancement in today's rapidly evolving global landscape.

Additionally, the summit facilitates networking opportunities through business-to-business meetings and an expansive exhibition area. Here, attendees can engage directly with project leaders, learn from other countries' experiences, and potentially form lasting partnerships. The exhibition space serves as a vibrant hub for stakeholders to connect, collaborate, and display their pivotal contributions to pushing the boundaries of innovation.

To register your place at the Global Innovation Summit, click here.

by Dayne Hodgson

Empowering Women in Deep Tech: The Women TechEU Project Launches

The Women TechEU project is revolutionising support for women-led early-stage start-ups in the deep tech sector. This initiative is set to empower 160 talented female entrepreneurs from across the European Union and associated Horizon Europe countries, providing them with the tools and resources needed to excel as leaders in deep tech innovation.

Each selected entrepreneur will benefit from a substantial €75,000 grant, which offers non-diluting finance, meaning they won't have to give up any equity in their company. This financial support is complemented by a personalized business development program designed to foster growth and leadership in the deep tech field.

Building on the success of the earlier Women TechEU scheme managed by the European Innovation Council and SMEs Executive Agency (EISMEA) during 2021 and 2022, the project has now evolved into a full-scale cascade funding initiative. It is currently run by a consortium comprising diverse players from the EU's innovation ecosystem, including representatives from women entrepreneurs' groups and investors.

Over the next two years, the project will distribute a total of €12 million in non-diluting finance through four competitive calls. Each cohort of successful applicants will gain access to a suite of business development services over a six-month period. These services are designed to support the entrepreneurs in scaling their businesses effectively.

Key performance indicators (KPIs) will be developed collaboratively between the entrepreneurs and their coaches. Regular check-ins will ensure continuous progress and adaptation, preparing these start-ups for potential application to the prestigious EIC Accelerator scheme.

This initiative not only provides substantial financial backing but also creates a supportive ecosystem tailored to the unique needs of women in the high-stakes world of deep tech. The Women TechEU project is paving the way for a new generation of female leaders in technology and innovation.

The next deadline is on Monday, 20th May 2024. More information about the competition can be found here.

by Dayne Hodgson

£8m Smart Shipping Acceleration Fund

Smart Shipping Acceleration Fund: The UK's £8 Million Green Initiative

Innovate UK, in collaboration with the Department for Transport (DfT), is spearheading an ambitious initiative to invest up to £8 million in innovation projects designed to reduce greenhouse gas (GHG) emissions and improve air quality in shipping and port operations. This commitment is not just about preserving the environment but also about positioning the UK at the forefront of maritime technology and sustainable development.

The Drive Towards Sustainable Maritime Technology

The primary goal of this competition is to support detailed feasibility studies that explore innovative technology demonstrations of scalable smart shipping technologies. These technologies are expected to make significant strides in reducing emissions and enhancing air quality. From on-vessel systems to port infrastructure improvements, the scope of potential innovations is vast and varied, encompassing everything from energy efficiency to data-driven operational enhancements.

Applicants are invited to propose projects that combine technical and economic feasibility studies related to the development and demonstration of these cutting-edge technologies.

Competition Requirements and Scope

Projects eligible for funding must have total costs ranging from £75,000 to £750,000 and should be completed within a five-month period (1st November 2024 to 31st March 2025). All project activities must be carried out within the UK, with a clear intention to exploit the results domestically, emphasising the competition's role in boosting local innovation and economic growth.

The competition is comprehensive in its reach, targeting all sizes and categories of maritime vessels, from pleasure crafts to commercial giants, as well as various infrastructures, including ports, harbours, and offshore installations like wind farms.

Innovation Themes and Project Expectations

Participants are encouraged to focus on several key areas:

  • Vessel Optimisation and Smart Efficiency Technologies: Enhancing the operational efficiency of ships through innovative solutions.
  • Autonomous Vessels and Subsystems: Developing control systems and sensors that facilitate autonomous maritime operations.
  • Smart Port Operations: Utilising digital tools to optimise port and shipyard operations, including smart route planning and emissions monitoring.

Projects must demonstrate a potential for significant reductions in GHG emissions or improvements in air quality. They are expected to result in a robust plan for real-world demonstrations by the end of 2027, detailing the technical approaches, objectives, and business cases.

Collaboration and Regulatory Compliance

Successful projects will require collaboration with a range of stakeholders, including vessel operators, port authorities, and potentially, the Maritime and Coastguard Agency (MCA). Compliance with existing and future regulations will be paramount, as will engagement with DfT, Innovate UK, and any third-party contractors involved with the Smart Shipping Acceleration Fund.

 

Intellectual Property and Economic Impact

A clear strategy for commercializing the technology is crucial. Projects must not only anchor Intellectual Property (IP) within the UK but also outline how this IP will benefit the national supply chain long-term. The competition encourages participants from across the UK to contribute to job creation and economic expansion, particularly in regions with existing maritime expertise.

For a free consultation to discuss your project idea, contact us today.

by Dayne Hodgson

£5m Available for UK/Taiwan Collaborative Innovation

Innovate UK in collaboration with Taiwan's Department of Industrial Technology (DoIT), has announced a new funding opportunity aimed at fostering international cooperation in industrial research. With up to £5 million available for innovation projects, this initiative seeks to unite UK and Taiwanese expertise to drive technological advancements and commercial success in several cutting-edge sectors.

Competition Overview

This funding competition is designed to support collaborative research and development (CR&D) projects that are business-led and focused on creating new products, services, or industrial processes. Projects must be innovative, involve technological risk, and demonstrate high market potential. Importantly, each project must include at least one partner from the UK and one from Taiwan, with funding for UK participants provided by Innovate UK and for Taiwanese partners by DoIT.

Key Sectors and Technologies

The competition prioritises projects in several high-impact sectors, reflecting the latest trends in technology and market demands:

  • Smart Technology: This includes next-generation communication technologies, semiconductor technology, and advancements in space technology.
  • Green Energy Technologies: Focus areas include electric vehicles, hydrogen transportation, renewable energy solutions, future grids, and carbon capture, utilization, and storage.
  • Smart Manufacturing: Enhancing automation and digital integration in manufacturing processes.
  • Biotechnology: Projects might involve the development of medical materials and devices that can transform healthcare.
  • Service Innovation: This sector encompasses the Internet of Things (IoT), Big Data, Artificial Intelligence, and the latest in telecommunications standards, 5G and 6G.

Funding and Project Details

This competition closes at 11am (UK time) on the 17th July 2024. UK applicants can apply for a grant of up to £900,000 per project. Each project must:

  • Request no more than £900,000 in grant funding.
  • Start by January 1, 2025, and conclude by December 31, 2027.
  • Last between 24 and 36 months.
  • Perform the majority of their project work in the UK and plan to exploit the results domestically.

Consortium Requirements

Each consortium must include at least one business registered in Taiwan and ensure that all businesses are separate legal entities. This stipulation is key to fostering genuine collaboration across borders, as opposed to facilitating internal company research. The contribution of project costs must be balanced, with no single partner or country claiming more than 70% of the total project costs.

Innovation and Impact

Projects must demonstrate:

  • A clear, disruptive innovative idea leading to new products, processes, or services.
  • A robust business plan with documented market potential.
  • Practical financial plans with clear timelines.
  • Good value for money, which is a critical consideration in funding decisions.
  • A plan to deliver significant economic impact and growth through commercialization soon after project completion.
  • The benefits of UK and Taiwanese collaboration, detailing how international cooperation adds value.
  • A well-defined IP strategy for the use and sharing of intellectual property created during the project.
  • A clear route to market within two to three years of project completion.

What Next?

For a free consultation to discuss your project’s fit with the competition, please contact RedKnight today.

by Dayne Hodgson

Pioneering Digital Transformation in UK Energy Networks

Innovate UK is investing £1.2 million dedicated to fostering collaborative projects that focus on the development of digital twins, enhancing data interoperability, and boosting cyber resilience across the nation's energy infrastructures.

This initiative is part of the broader "Building a Secure Resilient World" programme (BSRW), which aims to safeguard the critical infrastructure that powers our daily lives. The primary goal of this competition is to strengthen the cyber resilience of the UK’s energy networks through advanced digital solutions, particularly by supporting the creation and integration of digital twins.

What is a Digital Twin?
A digital twin is a digital replica of a physical entity, system, or process that can be used for simulation, analysis, and optimisation. This technology allows for detailed insight into the operation and potential vulnerabilities of energy networks, offering significant opportunities for improvement in both efficiency and security.

Competition Details and Requirements
The competition invites proposals that:
• Develop, support, or deliver digital twins within energy networks.
• Significantly improve the cyber resilience of these networks.
• Enhance the quality and interoperability of data across energy networks.
• Engage end-users throughout the development process and demonstrate testing in real-world conditions.

Eligible projects may also:
• Enable the development of digital twins specifically for energy networks.
• Improve the resilience of systems, technologies, data, and information within these networks.
• Foster increased collaboration among SMEs, energy networks, and researchers.
• Deliver products, services, or solutions with potential for commercialization.
• Help achieve the objectives of the UKRI’s BSRW programme.

Who Can Apply?
Applications are welcomed from SMEs specialising in:
• Cybersecurity
• Data interoperability
• Operational technologies
• Analytics and digital twins

SMEs from outside the energy sector are particularly encouraged to apply, highlighting the competition's focus on bringing innovative perspectives and technologies into the energy domain.

Funding Scope and Project Eligibility
The competition closes at 11am on 24th May 2024.  Eligible projects should request grant funding between £100,000 and £300,000 and must be completed within 6 to 12 months. All project activities must occur within the UK, and the results must be exploited domestically. The projects should be ready to commence by 1st October 2024, and wrap up by 30th September 2025.

Alternative Funding and Competition Dynamics
Applicants are encouraged to explore other funding avenues, such as the OFGEM SIF competition, to maximize their potential sources of support. It’s crucial to understand that this competition is highly competitive, and funding is limited. Even highly scored projects may not secure funding if the available resources are exhausted.

What Next?
For a free consultation to discuss your project’s fit with the competition, contact RedKnight today.

by Dayne Hodgson

Wales Technology Awards 2024 Winners Announced

Technology Connected recently played host to the eagerly awaited Wales Technology Awards 2024, in collaboration with Headline Partner de Novo Solutions. The grand gala served as a platform to spotlight the remarkable accomplishments and ground-breaking innovations within Wales' thriving tech sector.

Hosted by BBC Wales news anchor Jennifer Jones, the Awards ceremony drew together 300 luminaries from across the Welsh technology landscape, including industry titans, representatives from the public and private sectors, and avid supporters. It served as a tribute to the significant contributions of the Welsh tech industry, showcasing its pivotal role in shaping communication, business practices, and global engagement.

One of the evening's standout moments was the presentation of the prestigious 'The Sir Michael Moritz Tech Start-up Award', shining a spotlight on the exceptional start-ups in Wales driving innovation in cutting-edge technologies. In collaboration with Hexa Finance, this coveted accolade was clinched by Optimise-AI, marking a testament to their creativity and ingenuity.

The distinguished winners of the Wales Technology Awards 2024 included:

Welsh Secretary David TC Davies, the Guest of Honour, lauded the event, highlighting the crucial role of the tech sector in the Welsh economy and extending congratulations to the winners.

The Wales Technology Awards 2024 received generous support from esteemed industry organisations and stakeholders, including Headline Partner de Novo Solutions, Hexa Finance, Box UK, Deloitte, Wynne-Jones IP, HCR Law, CSA Catapult, Venture Graduates, and Cardiff Capital Region, BusinessNewsWales, NCL and RedKnight.

Avril Lewis, Managing Director at Technology Connected, praised the event's success, highlighting the pivotal role of Welsh technology in driving societal progress and combating global challenges. She reiterated Technology Connected's commitment to advancing Wales' tech industry and fostering innovation on the global stage.

RedKnight would like to congratulate the Technology Connected team for what was a fantastic evening of celebration. We are already looking forward to seeing what the Class of 2025 will have in store for us next year.

by Dayne Hodgson

New release of EU Funding & Tenders Portal launched

The European Commission (EC) recently announced the launch of the latest iteration of the EU Funding & Tenders Portal, marking a significant milestone in its journey to enhance user experience. Drawing on the invaluable feedback from a diverse community of over 1.5 million users, which includes EU funding applicants, beneficiaries, tenderers, and experts, the EC has worked to implement improvements that cater to user needs and preferences.

This new release introduces a range of enhancements aimed at providing users with a more intuitive and immersive experience. Among the notable updates are refreshed interfaces across the Portal, with the homepage now prominently showcasing the EC's core services and functionalities. Powered by state-of-the-art technology, the funding page search engine has been revamped to deliver more precise and relevant results, ensuring users can easily discover funding opportunities that align with their interests and objectives.

For logged-in users, the EC has introduced affinity-based recommendations of 'calls for proposals,' tailored to their specific profile and preferences. This personalised approach ensures that users never miss out on relevant opportunities that could take their project forward. Additionally, to further streamline navigation, the EC has integrated a global search feature at the top right corner of the Portal, allowing users to quickly access the information with ease.

The EC’s commitment to continuous improvement means it is constantly striving to enhance user experience on the EU Funding & Tenders Portal. To provide a comprehensive overview of all the latest updates and novelties, interested stakeholders are invited to watch a 3 minute informative video, which highlights the key enhancements and previews what's to come in the future.

by Dayne Hodgson