EIT Climate-KIC Business Plan 2023-2024

ended

Addressing major societal challenges like climate change requires a very different approach to deploying innovation. EIT Climate-KIC has developed a practical model of place-based innovation to map, co-develop and match scalable solutions to the challenge of meeting city, region, and industry climate targets. By orchestrating key stakeholders to develop new markets related to climate challenges and by enabling a large-scale ‘learning by doing’ framework, the model mobilises public and private funding to test and produce actionable intelligence, shared learning and solutions from a portfolio of innovations. There is a considerable need for such operational models for implementing transformative climate policy ambitions within Europe and beyond. EIT and EIT Climate-KIC have identified three core capabilities to enable scale up of this “systems innovation” model commercially and so help European stakeholders meet ambitious climate goals, aiming to contribute to the avoidance of over 500million tonnes CO2e and strengthening the climate resilience of 10 million people by 2027. This proposal addresses these core capabilities, comprising investment over 2 years of: €4.7M to secure new funding and commercial sales of the ‘Systems Innovation as a Service’ model; €5.8M to strengthen EIT Climate-KIC’s core operational capabilities and refine the systems innovation business model; and €6.3M to improve the quality and scalability of the systems innovation model to new national, city and regional governments, as well as industry sectors. The primary objective of this plan - against which success will be measured - is to ensure that by the end of 2024, EIT Climate-KIC is financially sustainable and independent of EIT funding and able to scale its systems innovation model.