EU investment in environmentally friendly innovations is “money well spent”, according to an evaluation of the eco-innovation initiative under the Competitiveness and Innovation Programme.
The report, conducted by consultants for the European Commission, says that in its first three years, the initiative showed evidence of good economic returns and job creation, as well as providing environmental benefits.
“The expected environmental, economic and employment benefits outweigh the costs to the public purse by far,” states the report. It says the funding pot is providing a valuable source of finance to bridge the ‘valley of death’ that exists in eco-innovation, particularly for small and medium-sized enterprises, between R&D and bringing an idea to the market.
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