Commissioner Zaharieva presents plan for European Innovation Act to EP plenary

During the plenary on 16 December 2024, Commissioner Ekaterina Zaharieva addressed the European Parliament in Strasbourg on the topic "A European Innovation Act: Lowering the cost of innovating in Europe."

Key points from her speech included:

• The European Innovation Act aims to strengthen the innovation ecosystem and reduce costs.
• Ms. Zaharieva emphasised closing the innovation gap, citing the Draghi report which highlights Europe's failure to commercialise research due to factors like fragmentation and bureaucratic burdens. The Act seeks to simplify regulatory frameworks and ease access to venture capital.
• The Commissioner is planning to present a strategy for startups and scale-ups next year, building on the Act.
• Ms. Zaharieva highlighted the role of the European Innovation Council and proposed leveraging competitiveness to connect with other initiatives such as the Circular Economy Act and the Biotech Act.
• She called for increased investment, more skilled talent, and necessary infrastructure, such as AI factories, within the EU.
• AI was identified as a key driver of competitiveness, referencing last week's AI Round Table.
• Ms. Zaharieva stressed the need for better coordination of innovation policies between Member States and the EU.
• The Commissioner advocated for simplifications to boost competitiveness, mentioning the use of lump sums in Horizon Europe.
• Ms. Zaharieva announced an upcoming public consultation on the European Innovation Act.

EP Plenary agenda