Creativity allows us to think new futures. It helps us invent new products, services, experiences, and even entire markets. Capital brings about returns on creativity; it allows us to scale sales, market shares and profits. The current multiple crises in Europe (e.g. inflation, war, ageing population, talent shortage, insecure supply chains), lead companies to restructure and adapt across sectors. At the same time, new developments such as generative AI, immersive realities, and quantum computing, create both opportunities and anxieties across many sectors.
In this interview series, EIT Culture & Creativity asks industry thought leaders how their companies navigate a future in this uncertain world. Core questions include which policy agendas and priorities will help them compete globally; which futures do they imagine for their sectors and customers; which innovations will significantly contribute to a better future? Innovation is a key question, not only for the EIT Culture & Creativity as the leading EIT Innovation Community for the Cultural and Creative Sectors and Industries, but also for customers and citizens wondering how to navigate our uncertain times
This interview is part of the EIT Culture & Creativity series “Creative Capital” with European Thought Leaders about the challenges and opportunities their organisation and Europe faces.
What is your company’s strategy to navigate the multiple crises currently afflicting Europe? How is your company leveraging innovation to do so?
“Eurecat’s strategy to navigate Europe’s current crises focuses on leveraging applied research and technological innovation to create resilient and adaptive solutions. We prioritize collaboration with industries to drive sustainable development and digital transformation. Through cutting-edge projects in areas like decarbonization, digital transformation, life sciences and creative industries, we address economic, environmental and social challenges effectively.”
How do you invest in innovation? (e.g. in incremental steps close to markets, in disruptive innovation with long term returns, or a mixture?) Are you investing more or less than before?
Briefly describe your front runner innovation coming to market next year – and why it is likely to succeed.
“At Eurecat, we invest in innovation by allocating substantial resources to R&D, fostering collaborations with academic institutions and partnering with industry leaders. We focus on developing cutting-edge technologies and solutions across various sectors such as CCSI, ensuring continuous advancement through state-of-the-art laboratories and expert-led research teams. Our commitment is to drive technological progress and sustainable growth, benefiting both companies and the society.
Our roadmap for next year includes the launch of high-tech state-of-the-art technological infrastructure to boost the access to advanced cognitive robotics to the SMEs, with special focus on collaborative social robotics.”
What is your outlook for the future of your market next year, and in 5 years? Please specify market opportunities and challenges.
“Eurecat helps European companies to innovate by providing applied research and technological solutions tailored to their needs. We anticipate significant growth in our market over the next year and the next five years, driven by the increasing demand for digital transformation and sustainable solutions. Key opportunities lie in advanced manufacturing, decarbonization and AI-driven innovation. However, challenges include navigating regulatory changes and ensuring data security. Our focus will be on developing technologies that address these challenges while fostering partnerships to stay at the forefront of market advancements.”
Which policy agendas and legal frameworks would support your global competitiveness? Please specify policies or administrative bureaucracies which can be reduced – or even abolished – without neglecting the needs for a more sustainable economy.
“To support Eurecat’s global competitiveness, policy agendas should focus on increasing funding for innovation, fostering public-private partnerships and supporting SMEs growth. Legal frameworks that encourage data sharing, protect intellectual property and promote sustainability are crucial. Additionally, policies facilitating international collaboration and ensuring a skilled workforce will bolster our ability to drive technological advancements and maintain a competitive edge globally.”
What resource would most help your company to reach its financial or other performance targets next year, and/or in 5 years?
“The most critical resource for Eurecat to reach its performance targets next year and in the next five years is to increase the support to innovate to the companies. Access to advanced technologies, skilled talent and expanded collaboration networks with industry leaders and academic institutions will drive innovation. Additionally, securing long-term funding and fostering strong public-private partnerships will be essential for sustained growth and achieving our strategic objectives.”
About EIT Culture & Creativity
EIT Culture & Creativity is the ninth Innovation Community by the European Institute of Innovation and Technfology (EIT), a body of the European Union. It is designed to strengthen and transform Europe’s Cultural and Creative Sectors and Industries (CCSI) by connecting creatives and organisations to Europe’s largest innovation network. It takes a holistic and open approach to innovation – from tech to artistic driven innovations, from business to citizen driven – and reinforces the appreciation and anchoring of European values and identities. EIT Culture & Creativity will unlock latent value from a multitude of small CCSI stakeholders through technology transfer, improved cross-sectoral collaboration and their effective integration in production value networks. EIT Culture & Creativity will support technology and business innovation; artistic innovation and social innovation. It will also harness the unique position of the CCSI to facilitate the Triple Transitions in Europe – green, digital and social.
About The European Institute of Innovation and Technology (EIT)
The EIT is Europe’s largest innovation ecosystem bringing together close to 3,000 partners from top business, research and education organisations across Europe in over 80 innovation hubs. The EIT strengthens Europe’s ability to innovate by powering solutions to pressing global challenges and by nurturing entrepreneurial talent to create sustainable growth and skilled jobs in Europe. The EIT is an EU body and an integral part of Horizon Europe, the EU Framework Programme for Research and Innovation. The Institute supports dynamic pan-European partnerships, EIT Knowledge and Innovation Communities, composed of leading companies, research labs and universities each dedicated to solving a pressing global challenge, from climate change to health, to renewable energy.
