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Industry funding is like dark matter: it makes up 80% of all spending but not directly observable. The part of industry funding that is addressable with research policy is the part that is spent on projects cofounded with public money. The challenge of increasing private spending here is therefore the challenge of increasing the efficiency, relevance and quantity of public funding.
SMARTSPEND will deliver greater efficiency in the use of public and private money for research. This will come about from sectors learning about the common ground they share and in bridging the gaps between them at the level of Implementation Working Groups. It will help boost the impact of work already funded by the Commission and other organizations interested in the topic of finance for energy innovation.