Commission proposes new European Innovation Act

The European Commission proposed the European Innovation Act to help Europe's most innovative companies grow across borders and compete globally. The proposal addresses two main challenges: helping innovative companies access financing and establishing a common procedure for R&D procurement. Measures include a common EU framework for intellectual property valuation, a digital marketplace for IP transactions, and simpler cross-border R&D procurement. The Commission expects around €35 million in administrative cost savings and €10.2 billion per year in additional IP-backed financing.