FREED will develop a new service, by the means of which SME’s in the region can access innovation in energy technologies otherwise not be available within the NPA region. FREED will also facilitate the transfer of technology innovations to SME’s across the area, so that the outputs of the project will widely benefit the region. It will achieve this because it provides a unique access private investment, which is the key determinant of success in stimulating innovation. This partnership offers something that will not be available to any other project offered to the NPA by virtue of its access to private investment, and is also unique in being integrated with existing innovation programmes. FREED enhances these without in any way duplicating existing programmes, and this capacity is acknowledged in letters of support. Thus FREED offers NPA the unique capability of attracting innovation to the region, as a result of the practical commitment to funding evidenced through the partnership. There is already clear connection with innovations developed by Sustainable Ventures in London, covering energy storage, electric vehicle hire, and provision of journey data, some or all of which could be made available to SME’s in the NPA region in the right circumstances; all of which will be of benefit to NPA communities; and which will be of benefit to enterprise and job creation. Other innovations in energy are already on the radar with the partnership making this application – but are not available to SME’s in the NPA region currently, and will not naturally be drawn there unless a project such as FREED is implemented. In this way, FREED can enhance existing innovation programmes within the NPA region, which lack this power to attract innovation from outside the region and, as such, is a precise fit for the objectives of Priority 1.
Eligible Budget: 1.996.085,-€
ERDF Funding: 1.223.235,-€
University of Oulu
South West College
Western Development Commission
Green Angel Syndicate
Narvik Science Park
Limerick Institute of Technology
European Institute for Innovation
Sustainable Venture Development Partners Ltd
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