Page 122 - Demo

1223 Frugal InnovationsIn the context of the European Union (the EU), several key aspects contributeto fostering innovation and innovative entrepreneurship. The EU emphasisesthe importance of investing in R&D activities to drive innovation. It providessubstantial funding through programmes like Horizon Europe, which supportsresearch and innovation projects across various sectors. The EU encouragescollaboration and knowledge sharing among different stakeholders, includingbusinesses, research institutions, and public organisations. Initiatives likeEuropean Innovation Partnerships (EIPs) aim to facilitate cooperation and jointefforts to address societal challenges.The EU recognises the significance of digital technologies in drivinginnovation. Initiatives like the Digital Single Market and Digital Innovation Hubsfocus on fostering digital skills, promoting the adoption of emergingtechnologies, and creating an enabling environment for digital innovation. TheEU promotes the sharing and utilisation of open data to spur innovation.Initiatives such as the Open Science Agenda and Open Innovation 2.0 encouragecollaboration, transparency, and the exchange of ideas and knowledge acrossborders and sectors. Effective protection of Intellectual Property Rights (IPR) iscrucial for promoting innovation. The EU has established frameworks andregulations to safeguard intellectual property, ensuring that innovators have thenecessary protection and incentives to invest in research and development.The EU supports the growth of startups and entrepreneurial ecosystemsthrough various initiatives. Programmes like the European Innovation Council(EIC) provide funding and support to innovative startups, while initiatives likeStartup Europe promote entrepreneurship culture and facilitate access toresources for new ventures. The EU places a strong emphasis on sustainabilityand green innovation to address environmental challenges. Policies and fundingopportunities are directed towards promoting clean technologies, circulareconomy practices, and sustainable business models.In summary, the European context for the promotion and development ofinnovation, including frugal innovation, can be characterised in the followingdirections and activities:%u25aa European policy initiatives for competitiveness and innovation;%u25aa European R&D activities;%u25aa European talent, the startup visa, Blue Card scheme (non-EU talent);%u25aa European funding programmes and financial support (e.g. Horizon Europe); %u25aa European tools for stimulating entrepreneurial and innovative universities(e.g. HEInnovate);%u25aa EU Innovation Radar.