site.btaConcerted Efforts Key for Green Transition, Commissioner Ivanova Says

EU Innovation, Research, Culture, Education and Youth Commissioner Iliana Ivanova addressed the "Unlocking Potential: Stimulating Innovation in CEE" session of the Green Transition Forum 4.0 in Sofia on Friday, the third and final day of the event.

"The Green Transition can only succeed through our concerted efforts if all regions, citizens, and economic sectors see its concrete benefits," Ivanova said. She added that the energy sector in Europe, which generates three-quarters of greenhouse emissions, produced more electricity from renewable energy sources than gas last year, amidst Russia's aggression against Ukraine, due to coordinated action.

Ivanova pointed out that investment in research and innovation as a share of gross domestic product ranges from 0.77% in Bulgaria to 2.14% in Slovenia, which is below the euro level target of 3% of GDP by 2030. Private investment remains low, negatively impacting innovation performance and resulting in missed opportunities for innovators.

The Commissioner added that the Horizon Europe programme has granted over EUR 8 billion to Central and Eastern European researchers and innovators over the past four years. The inclusion of countries such as Bulgaria, recognized as early innovators, has doubled the number of Bulgarian participants compared to the previous Horizon 2020 programme.

"One of my top priorities during this term is to strengthen support for innovative start-ups and growing companies in deep technologies," she said. She unveiled plans for new pilot actions to establish a pre-accelerator in these areas as part of the 2025 work programme. This innovative tool will enhance their technological and investment readiness, making them competitive candidates for the European Innovation Council's accelerator tool. Ivanova clarified that the projected budget is EUR 20 million, supplemented by additional support from other sources.

BTA is providing comprehensive coverage of the event, with а full recap of Day 2 and а full recap of Day 1.