Soulmates Ventures joins the charge as EU launches game-changing Green Deal Industrial Plan to revolutionize sustainability landscape.

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Posted by Tomáš Kabeláč

What is it

This plan is an anticipated game changer for the sustainability and climate-tech industry, providing a much-needed boost to Europe’s green transition competitiveness. It focuses on key areas such as creating a simpler regulatory framework, upskilling the workforce, accelerating access to investment and financing, and enhancing global trade cooperation for climate-tech and raw materials.

For now we know that the Green Deal Industrial Plan will utilize funds from several EU initiatives, including REPowerEU, a plan to reduce dependence on Russian fossil fuels with a budget of €250 billion, and InvestEU, a program aimed at promoting sustainable investment, innovation and job creation, with €372 billion prepared to mobilise. Additionally, the plan will utilize the EU Innovation Fund, which offers funding for the demonstration of cutting-edge low-carbon technologies and can provide €40 billion in the next decade.

What is the impact on sustainability-focused startups and VCs?

This is great news for sustainability-focused startups and VCs. The plan will simplify and accelerate aid granting, channel existing EU funds and create a European Sovereignty Fund aimed at boosting resources for upstream research and innovation, which will create new opportunities for sustainable and climate-tech startups to receive funding and support.

This will make it easier for startups and VCs to develop and invest in the growth of a net-zero startup ecosystem which the European Commission valued over €100B in 2021, doubling since 2020.

In the Czech Republic, this plan will provide a unique opportunity for the country to participate in the EU’s green transition. The country has a strong industrial sector and a thriving startup ecosystem, and the Green Deal Industrial Plan will provide the support needed to accelerate the growth of the country’s sustainability sector. This will not only benefit the environment, but will also create new jobs, stimulate economic growth, and help position the Czech Republic as an important player in the green transition.

“The EU Green Deal Industrial Plan is a game-changer in the sustainable business and technology development landscape. The EU is demonstrating its commitment to a greener future by investing in concrete plans and financial budgets to drive this change as we see countries like the US, Japan, the UK, Canada, and India also making significant investments in zero-emission and renewable technologies. It’s imperative that funding is directed towards projects and technologies that are not only focused on sustainability but are also able to demonstrate it and have a strategy in place for it. At Soulmates Ventures, we’re always on the lookout for such projects and are eager to invest in and further develop their sustainability and business potential.” – Tomáš Kabeláč, Sustainability Manager in Soulmates Ventures.

We are excited to see how this plan will support the growth of a net-zero economy and will keep you posted on more details soon. We look forward to working with European startups, VCs, and governments to help realize the full potential of this plan and to bring the green transition into reality. If you are interested in more information, feel free to contact us.

—

Sources:
https://ec.europa.eu/commission/presscorner/detail/en/ip_23_510
https://www.msn.com/en-gb/money/other/factbox-what-s-in-the-eu-green-deal-industrial-plan/ar-AA16ZuY6?cvid=524842977dff468199b1611c2beac106#image=1
https://www.esgtoday.com/eu-launches-green-deal-industrial-plan/
https://edition.cnn.com/2023/02/01/business/europe-green-deal-industrial-plan/index.html
https://ec.europa.eu/commission/presscorner/detail/en/FS_23_514

Photo: Jonas Von Werne

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