European Commission - Internal Market, Industry, Entrepreneurship and SMEs

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Energy Capital

Title of measure
Full title in national language:
Energy Capital
Duration:
2017
Policy objectives Plus
2.1. R&D cooperation projects between academy and industry
2.3. Knowledge transfer structures between academia and industry
4.1. Direct funding to business R&D and innovation
5.1. Cluster development
Presentation of the measure:

The ‘Energy Capital’ initiative, which brings together key partners from academia, industry and the public sector, aims to attract investment in smart energy technologies, research and infrastructure to deliver a wide range of economic benefits across the West Midlands Combined Authority region.
The objectives are to make the region the most attractive location in the UK to develop and grow modern smart, clean and distributed energy businesses; to support growth of our manufacturing base, deliver lower cost, cleaner power to citizens; and to maximise local economic benefits from national investments in the Energy Systems Catapult and Energy Research Accelerator.
Energy Capital operates through five facilitating workstreams:
1) Optimising local energy market regulation (creation of Energy Innovation Zones);
2) Marketing and promoting the region as a focus for clean energy investment;
3) Securing specialist finance and investment;
4) Supporting SME engagement and inclusion;
5) Identifying, mapping and promoting optimal investment opportunities.

With devolution and high level political support, this initiative has the opportunity to use an integrated, strategic approach to local energy investment – including the use of Energy Innovation Zones (EIZ) to test regulatory reform – to support delivery of economic prosperity for the population and further investment in the region. The EIZs will be large enough to provide a commercial market for innovative SMEs who need a platform for taking commercial products and services to the world; but small enough to secure the consent of local people and stakeholders for innovative energy systems.
 

Budget, source and type of funding
Year
National public funds
Regional public funds
EU Structural Funds
Private funds
Other
Form of funding provided
Other
Policy learning
To what extent the measure can be considered as a success and worthy of policy learning?:
It is too early to judge the success of the measure (e.g results of first call for proposals still not known).
Evidence of outcomes based on evaluation and other evidence:

Since the initiative has been launched only in 2017, no evaluations or case studies are avaiable yet.

What are the most important “Do’s and Don’ts” that regional stakeholders should be aware of when launching a similar measure?:

There are no “Do’s and Don’ts” yet.

Would you recommend this measure as an example of regional good practice to policy-makers from other regions ?:
Yes