The ambition of the European Institute of Innovation and Technology (EIT) is to be the key driver of sustainable European economic growth and global competitiveness by reinforcing the innovation capacity of the EU and its Member States. To this end, the EIT has developed and implemented the concept of Knowledge Innovation Communities (KICs). A KIC is a highly integrated long-term partnership of top research institutes, universities and companies in Europe which fully integrates the Knowledge Triangle (i.e. business-academia-education) with the objective to create new economic activities. The EIT and its KICs facilitate transitions: from idea to product, from lab to market, from student to entrepreneur, and from academia to business. The EIT and its KICs set themselves to develop new products and services, create an entrepreneurial mindset and to establish effective mechanisms to bring the products and services to the market so as to create new jobs and businesses.
For a full exploitation of their potential, the EIT and its KICs need to ease the access to capital for the young ventures which arise as result of their activities. It is widely acknowledged, however, that the conditions to attract venture capital (VC) and angel investment are relatively poor in Europe. The EIT has therefore decided to organize its second high-level EIT Roundtable of Entrepreneurs focusing on this topic. The specific aims of this meeting are:
To identify and discuss the barriers to investment in Europe and incentives to address these impediments;
To discuss how the EIT and its KICs can set up effective arrangements and working practices with business angels and Venture Capital firms with the aim to fund young ventures with high potential and consequently accelerate business and job creation in Europe;
The outcome of the second meeting of the EIT Roundtable of Entrepreneurs is expected to be:
- Awareness for opportunities offered by the EIT and its KICs amongst the VC and Business Angel communities;
- Recommendations which will be made available to political decision-makers;
- Ideas for the interaction between the EIT, its KICs , business angels and Venture Capital firms which form the basis for action to be taken after the meeting;
- Inspiring ideas and insights into new opportunities for all participants, and new and/or enhanced existing contacts among the participants;
Participation in the EIT Roundtable of Entrepreneurs is by invitation only. ECN Chairman Oliver Gajda has been invited and will represent its members and crowdfunding in general.