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Taking place in Hungary in May was the major

innovation conference of the EIT. INNOVEIT

2015 showcased the successes and current

projects of KIC InnoEnergy, as well as the work

of the other KICs and the wider EIT. To attend

the conference, Portal travelled to the

Hungarian capital Budapest and, on the

sidelines of the three-day event, spoke to Diego

Pavía, chief executive of KIC InnoEnergy, who

remarked that getting ideas to market is still a

major barrier to realising potential innovations.

“If we look at CorPower, one of our start-ups, it

can become a blockbuster over the next five

years,” he said. “We must remember that energy,

unlike IT, has a maturity and lead time to market

of an average of seven years – IT can be seven

weeks or seven months. In that sense, CorPower

could reach all its potential – possibly a €300m

pre-money valuation, within five years.”

Pavía then provided his thoughts on Europe’s

energy difficulties and the action the

European Commission is taking to address


IC InnoEnergy is the European Knowledge and Innovation

Community for innovation, business creation and education in

sustainable energy. The KIC is committed to bringing these three

elements together to achieve innovation and consequently increase the

continent’s energy security, realise cost reduction in the value chain, and

cut CO


and other greenhouse gas emissions.

KIC InnoEnergy began its operations in 2010 and now brings together

200 partners to achieve its objectives. The company has 27

shareholders, and though funding is still broadly drawn from the

European Institute of Innovation and Technology (EIT), it had a budget of

€300m in 2014 (its partners brought an additional €200m in 2014), up

from €26m in 2010. With its partners, including research institutes,

businesses and universities, KIC InnoEnergy is involved throughout the

energy innovation value chain.

Focusing on all three aspects of the knowledge triangle (higher education,

research and business), KIC InnoEnergy now has 400 students enrolled

in its education innovation programmes, has assisted in the launch of

43 start-up companies, has supported the implementation of 60

innovative products and services, and has filed 59 patents. KIC

InnoEnergy’s offices are located across Europe in France, Germany,

Poland and Sweden, as well as the Benelux and Iberia regions. Its

ultimate vision is to become the leading engine of innovation in the field

of sustainable energy.

Energy challenge

At INNOVEIT 2015 in Budapest, KIC InnoEnergy chief executive

Diego Pavía

provided his insight into the unique attributes of the company and how Europe

can remain an internationally competitive innovator


H O R I Z O N 2 0 2 0 P R O J E C T S : P O R TA L


Diego Pavía

©KIC InnoEnergy

S O C I E TA L C H A L L E N G E S : E N E R G Y