Relevant recent literature states that direct and pervasive public financing has been instrumental in the development of innovative technological trajectories. The reasoning builds on: (i) the presence of finance from public sources across the entire innovation chain; (ii) the concept of ‘mission-oriented’ policies that have created new technological and industrial landscapes; and (iii) the entrepreneurial and lead investor role of public actors, willing and able to take on extreme risks, independent of the business cycle.
On the other hand, public financing depends largely on the availability of funds. The available capital (human or otherwise) for different jurisdictions is different, which may motivate a case for heterogeneity of policies regarding innovation funding.
Moreover, the question becomes more complicated when the connection between public and private is not straightforward. The gap between infrastructure needs and available finance may be relevant and public policies may help in bridging that gap.
In Session 2, we intend to address, among other topics:
Energy Innovation Week will be comprised of 3 sessions, which intend to contribute the identification of common elements of the population of challenges that conform the current regulatory landscape, in order to define a framework that facilitates regulatory learning to realize financing of energy transitions.
Session 1: Digitalization and long-term investment in energy assets
Session 2: Public financing of green innovation: Matching offers and demand for financing
Session 3: Mobilising private investment for green, climate-resilient energy assets: The role of innovation in finance
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