The Commission presents the European Innovation Act: the new framework to support start-ups, scale-ups and innovation

On 9 September, the European Commission presented the new European Innovation Act, a key initiative of the EU Start-up and Scale-up Strategy and the Competitiveness Compass, designed to foster the growth of innovative businesses within the single market.

The proposal focuses primarily on access to finance, introducing a voluntary European methodology for the valuation of intellectual property assets, a Competence Centre at EUIPO and a digital platform to facilitate connections between businesses, investors and intermediaries. The new framework also introduces common rules for public procurement of research and development, with more proportionate financial requirements, value-oriented criteria and a European preference stipulating that at least 50 per cent of R&D activities must be carried out in the EU or in eligible countries. In parallel, the Commission has proposed a Recommendation on regulatory sandboxes, to enable the testing of innovative technologies in controlled environments, thereby reducing regulatory uncertainty, particularly for start-ups and small businesses.