New EU green economy funding announced

Irish businesses and colleges could benefit from an EU funding budget of €308.7m it was announced today.

The European Institute of Innovation and Technology (EIT) is looking for proposals to help develop new partnerships between higher education, research and business.

These new partnerships will be known as Knowledge Innovation Communities (KICs), and will bring new technologies to the market to combat climate change, increase energy efficiency and further develop the information society. These KICs will be selected by January 2010, and will be allocated funding.

European commissioner for education, training, culture and youth, Ján Figel, explained that "at this time of unprecedented economic crisis, the longer-term strategy of bringing the worlds of academia, research and business innovation together in new ways is exactly what Europe needs for a successful, sustainable recovery. The EIT is a key mover and shaker in this regard".

Proposals selected for the initial KICS must demonstrate innovation, a high degree of integrated partnership, as well as drive new interactions in the fields of technology, culture, business and design.

In doing so, KICs should create new business for existing industry, including SMEs, and for new start-ups.

A strong component of the KICs' innovation strategies will be to "educate and foster the development of entrepreneurship across traditional borders, sectors and disciplines".