Strengthening Canada-EU ties with Horizon Europe

Strengthening Canada-EU Ties, to Mutual Benefit with Horizon Europe

Strengthening Canada-EU Ties, to Mutual Benefit with Horizon Europe

March 14, 2024

Canadian companies have a significant opportunity to benefit from bilateral cooperation with the EU in science and technology, by fostering cross-border partnerships.

Horizon Europe is the EU’s largest research and innovation program to date with a budget of €95.5 billion for the period 2021-2027, complemented by financial contributions from associated countries. It is open to the entire world; entities from associated countries can collaborate and are treated on par with entities from EU member states.

The Strategic Partnership Agreement (SPA) between the EU and Canada provides a robust framework for advancing foreign policy goals and joint international action. In this context, bilateral cooperation in science and technology plays a pivotal role . Here are several areas of potential focus for Canadian companies:

  • Health
  • Bioeconomy including food and agriculture
  • Marine and Arctic
  • Transport including aviation
  • Digital including artificial intelligence and quantum
  • Environment, research infrastructures
  • Researcher mobility

1. Access to Knowledge and Expertise :

  • By engaging in joint research projects with EU partners, Canadian companies gain access to cutting-edge knowledge, expertise, and innovative solutions.
  • Collaborating with EU institutions, universities, and research centers allows Canadian firms to tap into a rich pool of talent and diverse perspectives.

2. Market Expansion :

  • The EU represents a massive market with over  450 million consumers . Participating in joint research initiatives opens doors for Canadian companies to showcase their products and services to a broader audience.
  • Leveraging EU networks and partnerships can facilitate market entry, distribution channels, and business development.

3. Technology Transfer and Commercialization :

  • Collaborative research often leads to breakthrough innovations. Canadian companies can benefit from shared technologies, patents, and intellectual property.
  • EU partnerships provide avenues for technology transfer, licensing agreements, and commercialization opportunities.

4. Mitigating Risks and Costs :

  • Research and development (R&D) can be resource-intensive. By collaborating with EU counterparts, Canadian companies share the burden of costs and risks.
  • Joint projects allow for cost-effective exploration of new ideas, reducing the financial strain on individual companies.

5. Access to Funding and Co-Financing :

  • The EU has established bilateral agreements with several countries, including Canada, to promote research cooperation.
  • Co-funding mechanisms exist, enabling Canadian companies to access EU research funds and vice versa. These funds support collaborative projects, infrastructure development, and capacity building.

6. Enhanced Competitiveness :

  • Engaging in international research networks enhances a company’s competitiveness. Exposure to diverse markets, regulatory environments, and industry practices fosters adaptability.
  • Canadian companies can learn from EU best practices, adopt innovative approaches, and stay ahead in a rapidly evolving global landscape.

7. Addressing Global Challenges :

  • Collaborative research tackles pressing global issues, such as climate change, health crises (like COVID-19), and sustainable development.
  • Canadian companies contribute to solutions that benefit not only their home market but also the broader international community.

Canadian companies stand to gain significantly from bilateral cooperation with the EU in science and technology. By fostering cross-border partnerships, they can access knowledge, expand markets, share risks, and contribute to a more sustainable and prosperous future.

For more information, join our webinar on June 19th , 2024 at 1:00 PM(ET)
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