Innovation is vital, and taking a collaborative approach puts it within the reach of all companies.
You no doubt have a list of strategic objectives to take your business to the next level. Being part of a collaborative project is a great way to achieve them.
A collaborative project is one in which several different entities work together on an R&D project over a set period to develop a product, service or process. Each party has a specific role which contributes to the success of the project.
Innovation is often complex and can monopolise several departments across the business if you tackle it alone. By bringing in additional skillsets through a technological partnership, you can undertake projects that would not have been feasible single-handed.
This type of project also offers unique financial benefits for your business. One important feature of European collaborative projects is that up to 100% of eligible costs can be covered by the European Commission, with support packages worth millions of euros. There is no more advantageous source of funding!
In addition, all types of businesses are eligible, regardless of their size and the value of their equity.
Collaborative projects are a means of pooling everything from R&D spend, expertise, equipment and risks, to the results of the project.
They also create opportunities to enter new markets and raise the profile of your business. And don’t worry: IPC is here to lighten the administrative load.