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Did you know that over 70% of companies worldwide are already using some form of artificial intelligence in their processes? Currently, AI is not only transforming industries but also changing the way teams work and add value.  

At FI Group, we have made artificial intelligence an ally to enhance our internal capabilities, improve our efficiency, and deliver better results for our clients. 

 

The integration of AI into our daily work allows us to: 

 

• Automate routine tasks: Automation through AI can save up to 30% of time on administrative and management activities  

• Prioritize what really matters: By letting AI handle low-value tasks, our team can focus on strategic and creative projects that generate real impact for our clients. 

• Quickly access and process key information: With the help of MarIA, our integrated artificial intelligence tool, we can analyze large volumes of documents and access cross-sectional information about our clients and the company to process and obtain relevant information in minutes. 

• Improve decision-making: A recent IBM study reveals that 42% of consulting firms already use AI to support decision-making and real-time data analysis  

 

How We Use AI at FI Group 

 

The implementation of AI at FI Group spans several key areas that have transformed our daily operations: 

• Support for teams: Tools like MarIA, SmartRead, and Copilot interact with each employee, assisting in document management and answering operational questions. This facilitates a review of the state of the art with an academic database, allowing human talent to focus on developing high-value information for the process. 

• Process automation: The digitization of tax documentation has become a quick and efficient task thanks to tools like the invoice scanner, which uses locally trained AI. This not only speeds up document analysis but also improves efficiency in responding to our clients. 

• Continuous learning: AI is not static; it learns from our processes and provides teams with personalized suggestions, helping to improve every day. This cycle of continuous learning is essential for adapting to the changing needs of the market and our clients. 

For the successful integration of AI, it is essential to consider several aspects: 

• Organizational culture: We are committed to the ongoing training and updating of our team. Training focuses not only on the use of tools but also on understanding how AI can enhance our capabilities. 

• Ethics and responsibility: At FI Group, we ensure the safe and ethical use of data, protecting the confidentiality of our clients’ information. Trust is a fundamental pillar in our relationship with them. 

• Long-term vision: We see AI as a tool to enhance human value, not to replace it. Our focus is on how artificial intelligence can complement and improve human work, creating synergies that benefit both our employees and our clients. 

 

Artificial intelligence is a fundamental part of our operational strategy. It allows us to be more agile, respond better to our clients’ needs, and find new ways to deliver real value in a competitive environment. Our experience shows that when AI is integrated with a human and orderly vision, the results multiply. 

 

In a world where innovation is the key to surviving and thriving, artificial intelligence is not just a tool but a strategic partner. By adopting AI responsibly and ethically, we not only optimize our processes but also open the doors to a future full of possibilities. Companies that dare to integrate AI into their DNA not only stay at the forefront of innovation but also become leaders in their respective sectors, creating a lasting impact on society and the economy. 

The AI-driven transformation is a continuous journey. At FI Group, we are committed to continuing to explore new applications and improvements in our artificial intelligence tools, ensuring that every day we can provide an even more efficient and valuable service to our clients. Artificial intelligence is the path to a brighter and more productive future, and we are excited to be part of this revolution. 

Have you come across the term “wearable technology”? 

 

While it may sound futuristic, it has become an integral part of our daily lives, whether in health, leisure, or work. 

Smartwatches were the gateway to a broader ecosystem of wearable devices designed to act as constant companions to our bodies. These include health-monitoring bracelets, smart rings, and fitness trackers, all aimed at tracking vital signs in real time. Users can monitor their cardiovascular health during workouts and daily activities with ease. 

Many wearables also analyse sleep patterns, offering insights into sleep quality by measuring duration, sleep stages (light, deep, and REM), and disturbances. This data helps users make informed adjustments to improve rest. Additionally, blood pressure monitoring features support the management of hypertension and overall heart health. 

Equipped with accelerometers and gyroscopes, these devices accurately track physical activity—counting steps, estimating calories burned, and monitoring various types of exercise. Built-in GPS functionality allows users to map routes and track distances during outdoor activities such as running, cycling, or hiking. 

Modern wearables also include stress management tools, such as guided breathing exercises and mindfulness reminders. Hydration and movement alerts further encourage healthy daily habits. 

 

Core Functions of Wearable Technology 

 

• Fitness and Wellness: Ideal for fitness enthusiasts, wearables offer features like GPS tracking, step counting, calorie monitoring, and personalised training programmes. 

• Entertainment and Personalisation: Devices such as VR headsets deliver immersive experiences, while smartwatches allow users to customise watch faces and settings. 

• Safety and Emergency Support: Some wearables detect falls or unusual activity and can alert emergency contacts, offering reassurance to users and their families. 

• Accessibility and Convenience: Smartwatches enable users to check messages, emails, and make calls without reaching for their phones—streamlining daily tasks. 

• Productivity Enhancement: With instant access to notifications and key information, users can stay focused without frequent smartphone interruptions. 

 

Examples of Wearable Technology 

 

• Smart Jewellery: Includes smart rings, glasses, wristbands, and watches. These compact devices connect to smartphone apps for easy interaction and data tracking. 

• Fitness Trackers: Typically worn on the wrist, head, or chest, these devices monitor physical activity and vital signs, syncing with apps for data analysis and goal tracking. 

• Augmented Reality (AR) Headsets: Overlay digital content onto the real world, enabling users to interact with both physical and virtual environments. 

• Smart Clothing: Embedded with sensors, smart garments can monitor health metrics, interact with devices, and adapt to environmental or user-specific conditions. 

• Wearable Virtual Assistants: Devices like Bee and Omi attach to clothing and respond to voice or gesture commands. They offer features such as translation, fitness tracking, and task automation. 

• AI Hearing Aids: These intelligent devices filter background noise and adjust automatically to the user’s environment. Many also support audio streaming, translation, and fitness tracking. 

 

The Future of Wearable Technology 

 

As public awareness of health and wellness grows, wearable technology has evolved into a vital tool for personal health management. These devices empower users to set and achieve fitness goals, gain real-time health insights, and adopt healthier lifestyles. 

With ongoing advancements, wearable technology will continue to shape the future, becoming more secure, efficient, and accessible for all. 

 

Key Takeaways 

 

• Wearable technology includes devices such as smartwatches, fitness bands, and smart rings that support users in managing their health and daily routines. 

• These devices enable real-time monitoring of health metrics like heart rate, sleep patterns, and blood pressure, aiding cardiovascular health and sleep quality. 

• Wearables offer a wide range of features, including fitness tracking, safety alerts, and stress management tools, supporting both physical and mental wellbeing. 

• Examples include smart jewellery, fitness trackers, augmented reality headsets, smart clothing, wearable virtual assistants, and AI-powered hearing aids. 

• Once a novelty, wearable technology has become an essential tool for achieving fitness goals and maintaining a balanced lifestyle. 

The global food system is undergoing a profound transformation. As urbanisation and industrialisation have distanced populations from food production, the environmental and social consequences have become increasingly evident.

Today, the agri-food sector is responsible for a significant share of greenhouse gas emissions, water consumption, and deforestation. In response, governments, businesses, and consumers are embracing sustainable practices and technologies to reshape the future of food.

 

The Environmental and Social Impact of Food Production

 

Modern food systems contribute to:

• 33% of global greenhouse gas emissions
• 70% of freshwater usage
• 80% of global deforestation

 

Additionally, over 735 million people  face food insecurity, a number exacerbated by recent global crises such as the COVID-19 pandemic and geopolitical conflicts. These figures highlight the urgent need for a more resilient and sustainable food model.

To address these challenges, a range of sustainable practices is being adopted:

• Regenerative agriculture: enhances soil health through crop rotation, composting, and livestock integration.
• Urban farming: reduces food miles and promotes local food systems.
• Biodegradable packaging: minimizes plastic waste and environmental pollution.
• Extensive livestock systems: promote animal welfare and reduce environmental degradation.

 

According to the FAO, food production must increase by over 50% by 2050. Achieving this requires producing more with fewer resources, reducing waste, and promoting healthier, plant-forward diets.

 

Evolving Consumer Behaviour and Dietary Trends

 

Consumer awareness is shifting towards more responsible consumption. Key trends include:

• Preference for organic and locally sourced products
• Reduction in meat consumption
• Adoption of vegetarian and plant-based diets
• Efforts to reduce food waste through bulk purchasing and meal planning

 

These behavioural changes are essential to supporting a sustainable food transition.

 

The Rise of Foodtech: Innovation Driving Sustainability

 

Foodtech, the intersection of food and technology is revolutionising the agri-food sector. Start-ups and established companies are leveraging:

• Artificial Intelligence (AI)
• Big Data
• Internet of Things (IoT)

 

These technologies are being used to optimise food production, reduce waste, and develop alternative proteins such as  lab-grown meat. Companies like  Beyond Meat, backed by investors such as Bill Gates and Leonardo DiCaprio, exemplify the potential of food-tech to scale sustainable solutions.

 

Future Foods: A Sustainable and Nutritious Alternative

The WWF and Knorr have identified 50 “future foods” that are nutritious, climate-resilient, and resource-efficient. These include:

• Seaweeds (e.g., wakame, laver)
• Legumes (e.g., lentils, fava beans)
• Grains (e.g., quinoa, brown rice)
• Tubers (e.g., sweet potato, lotus root)
• Insects, promoted by the FAO, offer high nutritional value and require minimal resources to produce.

 

ncorporating these foods into mainstream diets can significantly reduce environmental impact while improving global nutrition.

 

A Call for Collective Action

 

Transitioning to a sustainable food system is not only an environmental imperative but also a social and economic opportunity. By embracing innovation, supporting responsible consumption, and promoting future foods, we can build a more equitable and resilient global food system.

Change begins with small actions and conscientious choices that, collectively, can transform the world. 

Embracing diversity is not only a moral imperative, it is a powerful driver of growth, innovation, and resilience.  Diversity should never be treated as a checklist; it is a mindset that must be deeply embedded into the corporate culture. 

A genuinely inclusive organisation is one that evolves continuously, listens with intent, and understands diversity not as a challenge, but as a competitive advantage. 

Just imagine: we operate in 13 countries, serve thousands of clients across the globe, and see first-hand how diversity transforms teams and ideas. However diversity alone is not enough. It is the combination of diversity and inclusion that unlocks an organisation’s full potential. 

 

Why does diversity matter? And why might inclusion matter even more?

 

These efforts aren’t just nice to have, they’re essential for attracting the top talent and creating a workplace where everyone feels valued.  Recent research states that 88% of employers consider D&I initiatives essential to their success, with 80% having a positive view of their impact.

But here’s the catch: diversity without inclusion is just optics.

True inclusion means:

• Listening to all voices, not merely inviting them to the table.
• Creating space for different communication styles, languages, and perspectives.
• Reshaping structures and habits to enable everyone to thrive, not just to “fit in”.

 

Understanding Diversity as a driver of innovation

Innovation develops when ideas grow constructively, when new perspectives gain space and when people are curious to understand the world through someone else’s experiences and opinions. 

With offices across Europe, the Americas, and Asia, we are committed to building a workplace where individuals from varied backgrounds, cultures, and experiences feel valued and empowered.

We know that innovation, the heart of our business, depends on it.

 

Let’s get practical: How do we build a diverse and inclusive culture?

1. Redefine leadership: Diversity sets the tone for the entire organisation.
2. Make inclusion measurable: Track team dynamics, promotion pathways, and feedback loops. Be transparent about areas needing improvement.
3. Create safe spaces for all voices: Foster a culture where individuals feel confident to challenge ideas, share their experiences, and bring their authentic selves to work.

From this perspective, one conclusion becomes clear:

 

Teams + Diversity + Inclusion = Better decisions

 

Diverse teams bring more perspectives, richer experiences, and broader information, helping reduce cognitive bias and improve accountability. It’s no longer a question of whether diversity and inclusion matter, they are now strategic imperatives.

Organisations that nurture inclusive cultures benefit from:

• Faster, more effective problem-solving
• A deeper understanding of evolving markets
• Enhanced adaptability in a dynamic business environment

 

At FI Group, we believe that building diverse and inclusive teams is not only the right thing to do, it is essential for staying competitive and relevant in today’s world.

In an era where differentiation is critical, inclusion becomes a powerful engine of resilience, agility, and long-term growth.

Companies that embrace this mindset don’t just respond to change, they shape it.

The European Union is at the forefront of the global transition towards renewable energy. With ambitious targets set under the European Green Deal, the EU aims to become the first climate-neutral continent by 2050. This drive is supported by various grant funding initiatives, innovative projects, and the integration of advanced technologies. FI Group plays a crucial role in helping companies access these funding opportunities to achieve their renewable energy goals.

 

EU Grant Funding Initiatives

 

The EU has established several funding mechanisms to support renewable energy projects:

• Cohesion Fund: Aims to reduce economic and social disparities between EU countries and promote sustainable development by supporting projects that reduce greenhouse gas emissions, increase the use of renewable energy, and improve energy efficiency.
• Connecting Europe Facility (CEF): With a budget of €42.3 billion for 2021-2027, CEF supports investments in energy, transport, and digital infrastructure, with €8.7 billion allocated specifically for energy projects.
• European Investment Bank (EIB): Provides loans and financial instruments to finance energy projects and has launched the European Investment Advisory Hub to offer advice and expertise on project development.
• European Fund for Strategic Investments (EFSI): Mobilises private investment in strategically important projects, including renewable energy, power grids, and energy efficiency.
• European Regional Development Fund (ERDF): Finances programmes to make Europe more competitive, greener, and closer to citizens by supporting investments in renewable energy and energy efficiency.
• Horizon Europe: A research and innovation funding programme that invests around €5.6 billion to support the European Green Deal and accelerate the transition towards clean energy.

 

Examples of Awarded Grants and Projects

Several projects have benefited from EU grants. For instance, in 2025, the Innovation Fund supported 77 decarbonisation projects across 18 European countries. These projects aim to reduce emissions by approximately 397.6 million tonnes of CO2 equivalent over their first ten years of operation. Horizon Europe has funded numerous projects under its Cluster 5 ‘Climate, Energy and Mobility’ to support the REPowerEU initiative.

 

Grants for Households

The EU also provides grants to households to adopt green energy initiatives:

• Recovery and Resilience Facility: Dedicates €184 billion to energy-related measures, with €106.5 billion allocated to energy efficiency measures in public and residential buildings, including social housing.
• Cohesion Policy Funds: Support energy-efficient renovations of buildings, including insulation, heat recovery, and digitalisation of building systems.

 

The Role of Digital Technologies

Digital technologies are increasingly important in the renewable energy sector. Smart grids, for example, use digital communication technology to detect and react to local changes in usage, improving the efficiency and reliability of electricity distribution. Additionally, the Internet of Things (IoT) enables better energy management by connecting devices and systems, allowing for real-time monitoring and optimisation of energy use.

 

FI Group’s Role

At FI Group, we help companies navigate the complex landscape of funding opportunities. We provide expert consultation, analysing company projects, developing strategies, assisting in application submissions, and managing projects to ensure successful disbursement of funds. Our comprehensive International Grants Guide helps companies uncover public funding opportunities tailored to their needs, enhancing their projects and achieving their objectives.

 

Conclusion

The European drive towards renewable energy is supported by robust funding initiatives, innovative projects, and advanced technologies. FI Group’s expertise in accessing these funding opportunities ensures that companies can successfully contribute to Europe’s renewable energy goals, fostering a sustainable and climate-neutral future.

• The acquisition by EPSA results in an expanded business unit dedicated to global innovation funding.

• With this operation, a new leader in innovation funding emerges at international level, with projected 2025 revenues of over €182 million and in this business area.

• The executive shareholders of FI Group will continue in the company´s operations, leading the transition and ensuring the continuity of the day-to-day business.

 

FI Group, global consulting company specialising in the management of funding incentives, has reached an agreement with EPSA Group, European performance specialist, for the acquisition of 100% of its capital.

The purchase by EPSA results into an expanded global business unit dedicated to innovation funding. With the support of EPSA, FI Group will be able to continue expanding its reach to address global issues faced by large multinational companies while providing local advisory services to businesses of all sizes in a greater number of countries. From this moment on, the clients of FI Group and EPSA will rely on a global converage and diversified offering focused an optimizing financial performance, backed by the same professional management of both companies in the various countries in wich they operate.

Thus, a new leader in the category of innovation funding emerges at international level, with a projected global turnover for 2025 of over 182 million euros in this specific area. It will provide services in twenty countries, turning the value proposition into the most global in the sector, and will add more than 1,800 specialists in innovation financing worldwide, with more than 19,000 clients, over 20,000 projects reviewed annually, and managing more than 2.6 billion euros in innovation incentives. This operation will implement strategies for inorganic growth, consolidate an original global proposal in optimising financial performance with the incorporation of more countries and more services under a single management. The unique EPSA solutions platform, which focuses on purchasing performance, innovation financing and the energy and environmental transition, will unlock greater opportunities across the combined portfolios and deliver increased value for customers. At the same time, the ongoing digitisation and AI strategy will continue to enhance the value proposition, while investments aimed at unifying company culture will ensure that the shared values and vision are clearly and effectively communicated to all employees.

 

Global Leadership in innovation funding

 

FI Group becomes part of a Group based in Paris (France), a European performance specialist in constant and strong growth; optimising financial, operational and environmental results, EPSA is recognised for its technical know-how and the diversity of its business expertise.

Furthermore, from this moment on, a new Executive Committee for the governance of the new innovation unit is established, composed of members from both EPSA and FI Group. This ensures the continuity of FI Group’s operations without affecting its clients and employees, as well as maintaining the current management team to guarantee the success of the integration in front of the various stakeholders.

 

Xavier Cazabon, founder, shareholder, and president of FI Group, has stated:

“This step, hand in hand with our new partner EPSA, will help us reach levels of positioning that we couldn’t imagine when we started this project 25 years ago. We have grown organically over the last 20 years, but now we need something more, and we have found in EPSA the perfect partner for this; for their complementarity, entrepreneurial culture, and alignment of their vision with ours. Likewise, the extraordinary synergies derived from this union create the optimal environment of stability and business continuity, ensuring that the integration of both companies can be carried out in an operational context of maximum focus on our current and future clients. Additionally, we provide the necessary security for our employees to perform their tasks with the utmost peace of mind and remain focused on our purpose: the commitment to supporting innovation and providing quality service to our stakeholders.”

 

In this regard, María Corominas, CEO and shareholder of FI Group, points out:

“Today’s announcement marks the culmination of a journey began some time ago, when we first considered opening to an investor to strengthen our financial capacity, support expansion into new markets, accelerate our digitisation and diversification strategies, and enhance our management capabilities. This process prompted meaningful internal reflection and led to significant improvements in how we operate as a company. What makes this next step with EPSA particularly exciting is not only the strategic fit but also the cultural alignment. We share a common vision, underpinned by values such as integrity, excellence, and a commitment to compliance. With EPSA’s global reach and expertise, we are now positioned to offer an even more robust and international value proposition, one that sets a new benchmark in the innovation funding sector and opens the door to ambitious projects and long-term success for our teams and our clients.”

 

Godefroy de Colombe, CEO of the EPSA group, states:

«The acquisition of FI Group reinforces EPSA’s leadership in Innovation financing, which will continue to be strategic for public institutions and companies navigating global macroeconomic and geopolitical trends. It also bolsters EPSA’s strong footprint in Southern Europe and DACH and allows to accelerate in the US and Hispanic Americas. The combined capabilities of EPSA and FI Group will reinforce our ability to serve our customers with an extended service offering, both locally (in Spain for instance) and at an international level for global clients.»

The operation is effective from the 29^th of April 2025.

In recent years, the intersection of technology, medicine, and healthcare has created an environment ripe for innovations that transform how we manage our health and interact with medical services. Over time, the healthcare sector has increasingly absorbed technological advances and applied them within the field – and this relationship has opened the way for a powerful strategy known as cross-industry collaboration, where different sectors come together to share knowledge, experience, and technology, resulting in two distinct strands: HealthTech and MedTech.

 

What is meant by cross-industry?

In many cases, an innovative solution developed in one industry can serve as an effective remedy for challenges faced in another sector. This is the essence of the cross-industry approach: a strategic method that encourages the exploration of hybrid solutions by fostering collaboration between companies from diverse fields.

By leveraging unique insights and technologies from various industries, this approach aims to catalyse innovation, accelerate growth, and uncover a wide range of tailored solutions. These collaborations can create mutually beneficial opportunities, driving value for all parties involved while pushing the boundaries of what’s possible in their respective domains.

 

MedTech & HealthTech

According to the World Health Organisation (WHO), healthcare can be defined as «the application of organised knowledge and skills in the form of devices, medicines, vaccines, procedures, and systems developed to address health problems and enhance the quality of lives.”

Even with the terms HealthTech and MedTech often used synonymously, they serve distinct purposes in the healthcare ecosystem. HealthTech solutions are more concerned with leveraging technology to augment the overall healthcare experience for patients,  including innovations that enhance telehealth platforms, mobile health applications, and data analysis tools that allow patients to monitor their health in real time, thereby empowering them to take an active role in their health journey.

MedTech solutions, on the other hand, are focused on advancements in medical treatment and diagnostic processes. This encompasses improvements in diagnostic efficiency and accuracy, as well as the design and development of state-of-the-art medical devices, surgical tools, and patient monitoring systems. MedTech innovations particularly cater to healthcare professionals by providing them with the tools necessary for effective patient diagnosis and treatment.

A simplified distinction can thus be established: MedTech focuses on the development and application of technologies aimed at managing healthcare and enhancing diagnostic capabilities, while HealthTech prioritises the creation of tools and systems that enhance the patient experience and support consumer engagement in their own health management.

 

Examples of technologies in the health sector and their uses

With these differences established, we can now cite some examples illustrating the impact of various technologies in the health sector that have affected – and revolutionised – medical practices and the general day-to-day lives of patients around the world:

1. Neurotechnology

Neurotechnology has existed in the medical realm for some time, yet continues to progress in astonishing ways. It includes both implantable and external devices, covering all elements designed to comprehend brain functions. With the aid of these technologies, we can visualise the workings of the human brain and control, repair, or enhance its operations.

Neurotechnology components can include computers, electrodes, and other devices that interpret electrical impulses. At this moment in time, neurotechnology is utilised for various processes such as:

• Brain imaging: capturing magnetic fields generated by the brain’s electrical activities
• Neurostimulation: activating the brain and nervous system to influence brain functions
• Neuro-devices: devices employed to monitor and regulate brain activities, using implants

2. Telemedicine and telehealth

Telemedicine has grown rapidly in recent years, and many health systems now use it. It benefits both patients and healthcare workers: for patients, telemedicine offers convenience, making it easier to access care, save money, avoid travel expenses – and the risk of missing work for in-person visits. For healthcare professionals, it lowers costs and limits their exposure to illness, while also allowing them to see more patients with greater flexibility.

3. Wearable technology

Wearable technology, commonly referred to as wearable tech, encompasses a range of devices designed to track various health metrics, such as monitoring the heart rate in real-time, analysing sleep patterns to assess sleep quality, measuring blood pressure, and even tracking physical activity levels such as the number of steps taken and calories burned. On top of that, many models incorporate features like GPS tracking for outdoor activities, stress management tools, and reminders for hydration and movement. As health awareness grows, these devices have morphed from mere novelties into essential tools for many, aiding users in achieving their fitness goals and maintaining a healthy lifestyle.

4. Robotics in surgery

These advanced technologies support surgeons in performing minimally invasive procedures with remarkable precision and agility. They not only simplify straightforward surgical procedures, but also enable the performance of more intricate operations, thus enhancing the overall effectiveness and outcomes of medical interventions. By providing a steady hand and clear visual field, they permit surgeons to navigate complex anatomical structures with confidence and skill.

As these technologies continue to evolve, collaboration across industries will become ever more crucial. This synergy will not only drive innovation but also create a more efficient, personalised, and patient-centric healthcare ecosystem. The success of this collaborative approach can lead to a future where healthcare is more accessible, effective, and tailored to individual needs, promoting lasting well-being for all.

 

Key Takeaways

 

• Cross-industry collaboration is a strategy that fosters the exchange of knowledge and technologies, enabling the exploration of hybrid solutions that can solve challenges across industries.
• Examples of technologies that have revolutionised healthcare include neurotechnology, telemedicine, wearable technology, and surgical robotics, each contributing in distinct ways to the care provided and its management.
• Cross-sector collaboration can create a more accessible and efficient healthcare system, enabling patients to take an active role in their health and providing professionals with the necessary tools for effective diagnosis and treatment.
• The synergy between technology and healthcare promises a future where care is more personalised and tailored to individual needs, promoting lasting well-being for all.

FI Testimonials is an FI Group campaign featuring a series of interviews in which we delve into how we assist our clients in nurturing their ideas and share our customers’ perspectives on our services. Through their testimonials, we explore various companies from diverse sectors as they share their innovation projects, the challenges they face, and how collaboration with FI Group has helped them achieve their goals.

Our second video features Horse Aveiro, a key player in the innovation of hybrid and electric propulsion systems. We had a chat with their Production Director, Leonel Simões, who shared how FI Group has been a key partner in their transformation!

Read the full interview below.

 

What is Horse Aveiro? 

 

I’m Leonel Simões, production director of the mechanical and hybrid components department at Horse Aveiro. I’m also the director of Test Bed The Smart Lab Aveiro.  

Horse Aveiro, formerly Renault Cacia, is a HORSE Powertrain Limited Group company, a joint venture owned by the Renault Group, Geely and Aramco. Horse Aveiro specialises in the production of gearboxes and mechanical components for traditional internal combustion engines. More recently, it has started production of an electric motor and a power management module, Power Electronic Box, which also allows Horse Aveiro to enter the world of sustainable motorisation, through innovative hybrid technologies. 

At this moment in time, Horse Aveiro has around 1,500 employees and had a turnover of 450 million euros in 2024. 

 

Can you tell us a bit about the project in collaboration with FI Group? What were the challenges encountered and the advantages of this collaboration? 

 

In 2022, Horse Aveiro, which at the time was called Renault Cacia, began a transformation program in which it defined a series of strategic axes, including the development of the innovation ecosystem and digital transformation. Through these channels of growth and ecosystem development we encountered FI Group. Through our collaboration we quickly identified a series of projects and initiatives that were about to emerge or were already underway, such as, for example, the National Test Beds Network program, and we considered at the time that it was a relevant and effective project for us to be able to accelerate our entire digital transformation plan. 

And so FI Group became our main partner in this project and helped us to identify our co-promoters in this project, which are the Brisa Group and Via Verde. This collaborative effort helped us to build the entire application for this project. 

It’s actually a very strong application, not only because of its constituents but also due to its development content and value creation within the Test Bed framework. Therefore, it is a project that, given its robustness, allowed us to anticipate market consultation. We are talking about a six-month period before the government’s validation of this project. The market consultation aimed to identify SMEs and startups that could use the Test Bed as a testing platform for developing their businesses. 

 

In terms of the concrete results of this collaboration, what impact is it having with Horse Aveiro? 

 

This early consultation with SMEs and startups, six months before the validation of our application, was crucial for the results we are seeing now. We are perfectly on track to achieve the objectives set by IAPMEI, which must be met by the end of the grant program in September 2025. This includes completing all the pilots defined during the application phase: 59 pilots in total, with 9 for the Brisa and Via Verde Group and 50 from our side. 

 

What do you think of FI Group’s support throughout this process? How do you think this experience has gone for both teams? 

 

Indeed, this partnership with FI Group has proven to be a winning bet, as FI Group presents itself as the ideal partner and a perfect complement to our needs within this project. FI Group brings the experience and knowledge we need, especially in areas that are not our expertise, creating a team that allows us to address the various fronts required by this project. An experienced, available, and proactive team that makes this project very dynamic, productive, and even innovative. Every day, our interactions with the FI Group and the companies we work with open up new opportunities and perspectives in areas of our interest that we initially did not know how to approach. 

Watch the video here 

The circular economy is a production and consumption model that aims to extend the lifecycle of products and manage all resources more responsibly and consciously. This approach generates productivity and competitiveness, ensuring energy efficiency, economies of scale and greater environmental sustainability. It is particularly important in the European Union, where more than 2.5 billion tons of waste are produced each year. 

The benefits of the circular approach

Investing in a circular approach leads to numerous benefits, including: 

• Reduced production costs: Lower expenditures on raw material acquisition and waste management. 

• Improved carbon footprint: Reduced need to extract and produce new raw materials, helping to mitigate climate change. 

• Attracting investors: Sustainable businesses are seen as less risky and more resilient over the long term. Accompanying green investments with digitisation can increase productivity by 14%. 

 

Multi-sector leadership

Circularity involves several supply chains, including agribusiness, packaging, textiles and apparel, wood and furniture, and shipbuilding. These supply chains integrate circular practices into their production stages, from the choice of green raw materials to the use of renewable energy and digital technologies, to minimise waste and make durable and reusable products. 

A key aspect of the circular economy is business collaboration. Leading companies serve as a point of reference for smaller firms, promoting an integrated approach across different sectors. The success of this model is already visible: reduced waste, higher production efficiency and lower operating costs. The European goals are even more ambitious, however, aiming for a zero-carbon economy by 2050.  

 

European leaders in the circular economy

The European Environment Agency’s (EEA) 2025 report provides an overview of the progress and challenges of the circular economy in Europe. Here are some highlights: 

• Circularity rate: In 2023, Europe’s circularity rate was 11.8 percent, an improvement over previous years, but still far from the sustainability goals. 

• Quality of recycling: The quality of recycled materials needs to be improved for their reuse in new products. 

• Markets for secondary materials: Development of robust markets for recycled materials and improved waste collection and treatment infrastructures. 

• Innovation and digitisation: Importance of innovation to improve production efficiency and reduce waste. 

• Stakeholder engagement: Essential to promote a culture of sustainability and facilitate the transition to a circular economy. 

 

Circular Economy Network (CEN) – Circularity performance of major EU countries

The Circular Economy Network (CEN) analysed the circularity performance of Italy, France, Germany, Spain, and Poland. The circularity performance of the five largest EU economies was compared using European Commission indicators: production and consumption, waste management, secondary raw materials, competitiveness and innovation, ecological sustainability and resilience. 

Circularity performance analysis: 

1. Circularity performance assessment in the last available year (2024): 

• Italy: 45 points 

• Germany: 38 points 

• France: 30 points 

• Poland and Spain: 26 points 

2. Circularity trends of the top five European countries over the past five years: 

• Italy: 41 points 

• Germany and Spain: 40 points 

• Poland: 25 points 

• France: 21 points 

 

Conclusions

The circular economy is a key production and consumption model for sustainability and competitiveness in Europe. Investing in this approach brings many benefits, including lower production costs, an improved carbon footprint, and attracting investors interested in sustainability. Circularity involves different supply chains, promoting business-to-business collaboration and the adoption of innovative and digital practices.  

Visible success stories such as less waste and more production efficiency are already demonstrating the potential of this model. But the European goals are even more ambitious, aiming for a zero-carbon economy by 2050. The involvement of all actors in the value chain and the development of markets for secondary materials are both essential to achieve these goals. 

On this World Water Day, as the world faces escalating water scarcity, Singapore’s journey from a resource-challenged island to a global leader in sustainable water management stands as a beacon of hope. At the core of this transformation is NEWater, an innovative initiative that turns treated wastewater into ultra-clean drinking water.

This success story is about more than just technology, it’s about resilience, visionary leadership, and the power of research and development (R&D) in addressing one of humanity’s most pressing challenges. Singapore’s achievements with NEWater provide a blueprint for nations worldwide, demonstrating how innovation can transform crises into opportunities.

How Singapore Turned Crisis into Opportunity

 

In the 1960s, Singapore faced a critical challenge. With limited natural water resources and heavy reliance on imports from Malaysia, water security was a pressing concern. Frequent rationing and growing demand underscored the urgency of finding sustainable solutions. Rather than succumbing to its limitations, Singapore chose innovation. The government prioritised water security by investing heavily in R&D to explore unconventional approaches.

By 2002, after decades of persistence and technological advancements, Singapore launched NEWater, a system that converts treated wastewater into high-quality drinking water. Today, NEWater meets 40% of Singapore’s water needs, with plans to increase this to 55% by 2060. This achievement was made possible by cutting-edge technologies such as advanced filtration membranes, reverse osmosis, and ultraviolet disinfection—developed through years of dedicated research under initiatives like Singapore’s Research, Innovation, and Enterprise (RIE) Plan. 

 

Waves of Change: Inspiring Global Impact

Singapore’s success with NEWater has set a precedent for water-scarce nations worldwide, inspiring a global rethink on water management strategies:

• California: During its historic drought in 2014, officials sought guidance from Singaporean experts on wastewater recycling systems.
• Israel: Singapore’s advancements influenced desalination technology at the Sorek plant, one of the largest facilities of its kind.
• Dubai: Urban planners modelled the Sustainable City district on Singapore’s water-smart urban design principles.

Beyond technology, Singapore has also become a mentor for developing nations, collaborating with organisations such as the United Nations and World Bank. Its ABC Waters Program, which integrates reservoirs with parks and housing developments, has been replicated in cities from Shanghai to São Paulo.

 

R&D: The Engine Behind NEWater’s Success

Singapore’s unwavering commitment to R&D has been the driving force behind NEWater’s success. The RIE Plan has allocated significant funding to develop cutting-edge technologies that enhance wastewater recycling efficiency, scalability, and cost-effectiveness. These innovations include:

• Advanced Filtration Membranes: Leveraging materials science to ensure ultra-clean water quality.
• Energy-Efficient Processes: Reducing the energy footprint of water treatment plants for greater sustainability.
• AI-Driven Water Management Systems: Utilising artificial intelligence to monitor and optimise treatment processes in real time.

In addition to fostering innovation, Singapore has created platforms for global collaboration. PUB’s Global Innovation Challenge invites researchers and companies worldwide to co-develop solutions for pressing water issues. Testbeds like the Living Lab Scheme allow innovators to trial their technologies within Singapore’s infrastructure before scaling them globally. These efforts have positioned Singapore as a hub for water technology while reinforcing its climate resilience.

 

Economic Growth Fueled by Innovation

NEWater’s impact extends beyond environmental sustainability—it has also fuelled economic growth. By ensuring a reliable supply of ultra-clean water, it has attracted high-tech industries like semiconductor manufacturing, which require ultra-pure water for operations. 

At the same time, ongoing R&D continues to push boundaries with projects like:

• The Deep Tunnel Sewerage System (DTSS): An underground “water highway” designed to increase used-water recycling capacity until 2100.
• The Tuas Nexus: An integrated facility combining used-water treatment with waste-to-energy processes for greater efficiency.

A Call to Action

Water scarcity affects billions worldwide, but it doesn’t have to define our future. Singapore’s story proves that with vision, investment in R&D, and collaboration across sectors, we can build a sustainable future where every drop counts.

Share this article with your network of contacts. Explore FI Group‘s article archive to find more related and relevant content. 

 

In a dynamic and competitive world, access to information is crucial for business success. Companies that want to stand out need to go beyond simply collecting data by turning them into actionable insights that drive the growth and profitability of their business. It is in this context that business intelligence (BI) becomes an essential tool. 

 

 

What is Business Intelligence? 

Business intelligence is a set of processes, technologies and tools that transform raw data into strategic information to help companies make assertive decisions. 

By collecting, organising, analysing and visualising data from various sources, BI provides managers with a complete and comprehensive view of their organisation’s performance, allowing them to identify opportunities, optimise processes, reduce costs, increase efficiency and make smarter decisions to achieve strategic objectives. This article provides an introduction to BI, but it can only cover the tip of the iceberg. 

Traditional business intelligence emerged in the 1960s as a system for sharing information within organisations. In the 1980s it developed alongside computer models to aid decision-making and transform data into information. Modern BI solutions prioritise governed data on reliable platforms, the autonomy of business users, and fast access to information. 

 

What are the Advantages of Business Intelligence for Business? 

More and more people generate and/or create data every day, making the latter ever more diverse and unstructured. 

In this sense, and once we know what business intelligence is, a careful use of the BI approach can help any organisation gain a competitive advantage by reducing the time and effort needed to acquire, integrate, distribute, analyse and respond to new data. 

The better a company’s data processing is, the more it will benefit from BI. In fact, the leaders in data processing exert enormous pressure on all competitors who fail to recognise the potential of their data in good time. Late adopters are forced to accelerate their analytical ambitions to keep up with competitors and new market entrants. 

BI is thus right at the core of all data-driven companies, making it the epicentre of their transformation. The implementation of new BI tools is aimed at boosting an organisation’s impact and rendering it more efficient. But with the right BI technology, you can also gain a number of additional benefits.

These include: 

• Higher efficiency of operational processes 

• Insights into customer behaviour and buying patterns 

• Precise control of sales, marketing and the financial performance 

• Clear reference points based on historical and current data 

• Instant alerts on data anomalies and customer problems 

• Analyses that can be shared in real time between various departments 

In the past, business intelligence tools were mainly used by data analysts and IT users. But nowadays, BI platforms make business intelligence available to everyone, from executives to operations teams. 

To this end, FI Group has launched a new digital space that integrates several applications in a single platform. This way our clients can benefit from greater transparency about the services they develop with us. 

For the future, it is vital that the people and companies around us adapt and use new digital resources to reach their full potential, converging on innovative and exciting ideas. 

 

FI Connect 

FI Connect is a HUB of digital applications created by the FI Group to transform, automate and optimise our customer relationships.

This suite of applications enables FI Group to offer a more structured consultancy support, making our clients’ lives easier and letting them focus on their R&D projects by ensuring better communication and greater efficiency in our delivery of their R&D claims.

 

Business Intelligence Applications 

The versatility of Business Intelligence allows it to be applied across various sectors and areas of activity within a company. Some examples of how BI can be used to generate value in different sectors include: 

 

Sales and Marketing 

• Analysis of marketing campaigns to identify the most effective ones and optimise marketing investments 

• Analysis of customer behaviour to understand their preferences, needs, and buying journey 

• Market segmentation to target campaigns and offers more precisely and effectively 

• Defining competitive prices based on market data and competitor analysis 

 

Finance 

• Cost and profitability analysis to identify areas for optimisation and improving profit margins 

• Cash flow monitoring to ensure the company’s financial health and make more informed investment decisions 

• Investment analysis to assess returns on investment and make more strategic decisions 

• Forecasting of financial trends to prepare for future events and mitigate risks 

 

Operations 

• Production monitoring to identify potential adversities and improve operational efficiency 

• Quality control to ensure that products meet the required quality standards 

• Stock management to optimise stock levels and reduce costs 

• Logistics optimisation to reduce transport and delivery costs 

 

Human Resources 

• Analysis of performance indicators to assess employee performance and identify areas for training and development 

• Talent retention to identify key turnover indicators and implement retention programs 

• People development to identify the skills and knowledge needed for the company’s success, and invest in employee development 

 

Customer Service 

• Analysis of customer feedback to identify areas for improvement and enhance the customer experience 

• Resolving problems quickly and effectively to shorten resolution times and increase customer satisfaction 

• Optimisation of service channels to direct customers to the most appropriate channel and reduce costs 

 

The provision of reliable information for making strategic decisions, to optimise processes, reduce costs and increase competitiveness makes BI a crucial differentiator for companies wishing to stand out in an increasingly competitive and dynamic market. 

Investing in a business intelligence solution is an investment in your company’s future. 

Share this article on business intelligence with your network of contacts. Explore FI Group’s article archive to find more related and relevant content. 

• The belief that STEM is predominantly male-dominated has led to the systematic exclusion of girls from early childhood education, limiting their opportunities and interest in pursuing careers in these fields. 

• Many girls who are interested in STEM face unsupportive academic and professional environments, resulting in isolation and lack of opportunities for career advancement. 

• Only about 29.2% of the science and engineering workforce is female, which not only limits diversity but also inhibits innovation and the development of solutions that meet the needs of society as a whole. 

• Nurturing girls’ and women’s interest in STEM from an early age is essential to building a solid foundation for future STEM careers. 

• Creating supportive academic and professional environments, along with women in prominent positions to serve as role models, is key to encouraging female participation in STEM. 

 

Women’s presence and contributions in scientific fields have been systematically overlooked and marginalised. Careers in the exact sciences – such as physics and chemistry – are often perceived as predominantly masculine domains, reinforcing the stereotype that girls are better suited for disciplines in the humanities, like literature and social sciences. This perception has resulted in a significant historical exclusion of women from science and mathematics, beginning as early as the education system, where girls are often encouraged to pursue less technical subjects.  

Over the past 50 years, girls and women have made significant advances in education and the workforce, particularly in areas such as health and business. However, this progress has been inconsistent, and male professionals continue to dominate many scientific and engineering disciplines, such as mathematics, computer science, and engineering.  

Despite efforts to promote gender equality, the representation of women in STEM – an acronym that encompasses Science, Technology, Engineering, and Mathematics – remains alarmingly low. Recent Global Gender Gap Research reveals that women make up only about 29.2% of the workforce in the dynamic fields of science and engineering. The stark underrepresentation underscores a pressing gender gap, which not only hinders diversity and innovation but also limits the potential for groundbreaking advancements in these essential domains. 

This ongoing disparity not only hinders the advancement of diversity in scientific innovation but also impacts the development of solutions that address the needs and perspectives of all members of society. Encouraging more girls and women to pursue careers in these fields is essential for fostering a more inclusive and effective scientific community. 

 

Why does STEM have such a gap? 

According to information over the past two decades, there’s no significant difference in STEM aptitudes between genders. However, social beliefs and expectations surrounding girls persist. The stereotype that boys are inherently better suited for the exact sciences is still widespread, leading to the systematic exclusion of girls from science and mathematics throughout their education from an early age. This exclusion limits their interests, preparation, and opportunities to pursue careers in these fields. 

Likewise, academic and professional environments also seem to contribute to female alienation: girls who are interested in STEM areas often graduate from high school prepared to pursue careers in that field, but few end up graduating from college with a degree in exact sciences; and, when they do, the professional space also ends up being challenging and unsupportive towards them, with reports of isolation, lack of support, encouragement and opportunities for career advancement being not uncommon. 

 

What can be done? 

Cultivating the interest of girls and women in the exact sciences is the main way to create a more egalitarian and diverse scientific future, which also makes it possible to significantly strengthen the workforce dedicated to STEM areas – which, for women, saw an increase of only 1.58% in workers between 2015 and 2023 – which would open up a range of possibilities to maximise innovation, creativity and competitiveness in these areas, creating favourable environments for the development not only of products that meet the general needs of the male and female public but also expanding the strength of research dedicated to discovering cures for diseases, combating global warming, developing renewable energies and others. Having a more diverse workforce can lead to better-designed scientific and technological products, services, and solutions that better represent all users. 

Therefore, nurturing incentives and opportunities for girls and women to enter STEM must be a progressive movement, encompassing all areas and influential environments. Beliefs and stereotypes can be discouraged and changed over the years, and educators and caregivers can – and should – introduce girls to the world of possibilities that lie in Science, Technology, Engineering, and Mathematics, and above all, encourage them to follow their interests and develop them in conjunction with their abilities. 

In addition to the smaller sphere of socialisation, it is also necessary to create environments that are more conducive to the participation of women in the exact sciences, both at work and academically, including the creation of programs to encourage and include women and greater recruitment and search for students and professionals in these areas, with equal and transparent criteria for achieving success. 

What is Data Privacy?

 

Data privacy is the principle that allows an individual to have control over their personal data, including the ability to decide how organisations collect, store, and use such information.

Data privacy is not only crucial to prevent unauthorised access and misuse of information, but also strengthens the trust between consumers and businesses in an increasingly interconnected environment.

 

Why is it Important?

In an increasingly digitalised world, protecting personal data has become crucial to ensure the security and privacy of individuals. Data privacy ensures that our data is secure and used only for authorised purposes, providing peace of mind in the digital world.

 

How can Companies Protect their Data?

At the business level, data protection and privacy now number among the main objectives. Companies are putting all their efforts into ensuring this protection, as well as ensuring compliance with the GDPR.

This compliance is achieved by the implementation of policies that establish procedures for data protection. Additionally, technical measures are increasingly aimed at ensuring information privacy.

The most common technical measures applied by companies include the use of multi-factor authentication to manage access, systems that prevent and detect intrusions, and data encryption to ensure their immutability.

In addition to that, these measures need to be evaluated and audited periodically, and continuous training of personnel in privacy matters is necessary. This will allow us to ensure GDPR compliance, thereby reinforcing our customers’ trust.

 

What are the Challenges of the Future?

The main challenge for FI Group in 2025 regarding data privacy is the use and management of AI. It is crucial to adopt measures that allow us to ensure the responsible development and use of AI, thereby guaranteeing that the rights of the individuals concerned are respected. On the occasion of Data Protection Day (January 28), we therefore take the opportunity to remind you that at FI Group, we are committed to developing and using innovative practices that help us drive progress.

These measures need to ensure the security and privacy of our data, which is why it is everyone’s job to follow these good data protection practices.

 

How Does FI Group Protect Its Data?

FI Group recognizes the importance of safeguarding data, both our own and that of our customers. Therefore, we implement security measures designed to ensure the confidentiality and integrity of this data.

We rely on four key strategies to establish these measures:

• Privacy by Design: We ensure that data privacy is integrated from the initial design phase of any process.
• Advanced Security Measures: We utilize advanced cryptographic techniques and the latest technologies to protect our systems and processes from threats.
• Awareness: We provide resources and training to help our employees understand their rights and responsibilities regarding data protection.
• Compliance: FI Group adheres to global policies and local data protection regulations, ensuring a consistent level of protection.

Grants and financial instruments

 

Grants are defined as a type of funding typically available to beneficiaries after successfully submitting an application related to a “call for proposals” managed by the EU, national or regional authorities. Grants can take various forms, e.g. as a reimbursement of eligible costs, of unit costs, as lump sums, flat-rate financing, or also a combination of these. Most EU grants are provided as co-financing so beneficiaries need to come up with at least half the necessary resources themselves.

Financial instruments are defined as funding provided in partnerships involving public and private institutions (e.g. under the EU shared management funds) in the form of loans, guarantees, equity, or quasi-equity. The main benefits of the financial instruments include that the money repaid by final recipients can be reused to support further investments (revolving effect), that additional public and private co-investments are potentially attracted (leverage effect), the nearness to the market, and their implementation by financial intermediaries contributing their own sector expertise (high impact).

A combination of grants and financial instruments can be of major help for the growth of startups, SMEs and other businesses, but also the realisation of policy objectives on a national or EU level, and address market failures related to a project’s viability and access to finance. The potential benefits of such combinations can for example include additional support, overcoming financial shortfalls where investments are unable to make enough profit or too risky for private investors, and a higher impact thanks to economies of scale.

 

Grant + equity schemes

 

Research and innovation (R&I) are crucial for the sustainable success and growth of small and medium-sized enterprises (SMEs) in the EU. These make up 99% of all EU businesses, create ca. 100 m jobs, and are an essential source of entrepreneurship and innovation, both of them of crucial importance for the EU’s competitiveness.[1] The definition as an SME or startup is important for the access to finance and EU support programmes intended specifically for them[2]. SMEs and startups operate in a rapidly evolving and challenging environment that calls for investment and adherence to standards and regulations, also in light of their limited skills and financial resources.

Financial markets often fail to provide SMEs and startups with the funding they need. Horizon Europe, the EU’s R&I funding programme scheduled until 2027 involves the European Innovation Council (EIC), which supports game-changing innovations throughout the life cycle of start-ups and SMEs, from early research via the funding through to the scaling up, with a budget of EUR 10.1 bn.

The EIC provides funding by way of grants and investments both. The investments currently take the shape of direct equity or quasi-equity investments and are managed by the EIC Fund, whose main investors include the European Commission and European Investment Bank (EIB). One of the three funding and support options available in the EIC Work Programme 2024 is the EIC Accelerator designed to support SMEs, start-ups, spin-offs, and in exceptional cases also small mid-caps, in the development phase of products or services, in bringing their innovations to market and scaling them up where the risk involved is too high for private investors to provide all the required funding. Up to €2.5 m are available in grants for innovation activities, and up to €15 m in equity investments for the market launch and scale-up, all from the resources of the European Investment Bank (EIB). This new model now offers greater funding diversity and additional flexibility for the timing of investment support, permitting applicants to make separate decisions about the forms of funding in line with their company’s investment needs, market developments, and opportunities for attracting co-investors.

The most popular option is applying for blended finance, a combination of grant money and equity investment that must be defined at the time. Next come grants as initial funding, leaving the option to go for equity investments at a later stage, usually once the technology being developed has reached specific milestones. This blending model involving a mix of subsidies + equity for companies in need of funding is a good example for SME and startup support schemes in the growth and scale-up phase.

 

Grant + loan schemes, European Investment Fund, loans and micro-loans

 

The EIF oversees several mandates on behalf of the European Commission as well as national and regional managing authorities. Instead of the EIF providing funding or guarantees to individuals or companies directly, the final funding approval is the sole competence of the financial intermediary on a national level. The loans provided by the EIF can also be combined with funding from other EU sources (e.g. the EU budget), in a process known as blending.

For large companies, the EIF will cover investment costs (typically for a period of up to three years, but possibly longer), e.g. for research and development or the costs of facilities or activities, up to 50% of total project costs.  These loans typically start at €25 m, but the EIF will also consider lower amounts in specific cases. This blending model involving a mix of grants + loans for companies in need of funding is a good example for profitable investment support schemes where businesses require liquidity to start investments capable of generating revenues that will enable them to repay their loans.

 

Combined RDI loans in Spain on a national level

 

A specific example of grant and loan combinations is provided by Spain’s combined RDI loans, which are overseen by the Spanish Centre for the Development of Industrial Technology (CDTI).

This scheme foreseen a partly repayable loans (long terms loans at fixed interest rate below the market standards which include one part that should not be reimbursed) funded by central state budget resources. The aid intensity is up to 85% of the approved budget and the non-refundable component is between 10% and 33% of the aid. This combination could be implemented with EU funds in the 2021-2027 period, provided all other Common Provision Regulation (Regulation (EU) 2021/1060) rules are respected, (loan financial instrument cannot be used to pre-finance grants and grants cannot be used to repay the loan financial instruments).

 

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[1] Source: European Commission – Internal Market, Industry, Entrepreneurship and SMEs.

[2] Small and medium-sized enterprises (SMEs) are currently defined in EU recommendation (N.2003/361).

 

FI Testimonials is an FI Group campaign featuring a series of interviews in which we delve into how we assist our clients in nurturing their ideas and share our customers’ perspectives on our services. Through their testimonials, we explore various companies from diverse sectors as they share their innovation projects, the challenges they face, and how collaboration with FI Group has helped them achieve their goals.

Our first video features Leanbio, a biopharmaceutical CDMO, we had a conversation with their CEO, Albert Font, who shared insights about the company’s present and future. Have you heard about development of biologic products before?

Read the full interview below.

 

What is Leanbio?

 

I am Albert Font and I am the CEO of Leanbio. Leanbio is a Biopharmaceutical CDMO, which means we offer biologics development and manufacturing services. We also specialise in recombinant proteins, plasmic DNA and MRNA.

We are a company with a global scop and our main objective is to make the journey as easy as possible for our clients, from the initial stages until the product reaches the market.

Leanbio currently has almost 400 square metres in the Barcelona Science Park. They are distributed in laboratories dedicated to process development, analytical methods development and quality control. We also have different pilot plants to provide services up to toxicological studies. And we are currently expanding our production capacity in a new production facility that will be almost 4000 square meters in size, with three main production lines: one based on microbial expression systems, one based on cell cultures and then also we’ll have some dedicated rooms to making MRNA-based products.

Apart from these three main production lines, we will have different services like quality control to release the product and a development area of about 500 square meters of development and scaling, and also offices, warehouse, and so on.

 

Can you describe the project you worked on with FI Group and the challenges faced?

Due to the growth that’s been taking place over the last few years, and the track record of bringing products to market, both for startups in new biological entities and in biosimilars, Europe wanted to recognise this ability of the company and has awarded us with a PERTE Salud Vanguardia.

We have been supported with the capabilities of FI to support us get this grant.

This grant is mainly intended to help us to leverage all the private investment that we’ve had and it will assist us to invest in productive equipment of the different lines that Leanbio will have in its new production plant.

 

What would you say the key achievements and benefits generated from this collaboration were?

At this time Leanbio is already acquiring different equipment that will be key to preparing the three production lines of the new plant.

This support will also help us to be able to hire key personnel, which will support the developments and manufacturing programs of our customers.

Right now we are aligning all these different activities so that the plant will be ready by 2025. Given the investment required in this type of production plant, specifically biopharmaceuticals, it’s always important that private money, equity, come with a share of public money, in this case it would be PERTE Salud Vanguardia. Since this implies, or links, that there is an alignment of private enterprise with public institutions.

 

How was your experience working with FI Group?

Working with FI Group has been very easy. Thank you, not only for your expertise in supporting companies like us, I am very pleased to be able to get this kind of support. It has also been important to be able to count on their flexibility and the different people who have been part of this project, all of them have an important technical background, and that they enabled the project to obtain this grant.

Watch the video here!

FI Group weighs the benefits and challenges of business automation

Automation driven by technological advances such as artificial intelligence, robotics and machine learning is rapidly changing the landscape of work. Repetitive and manual tasks previously performed by humans are being automated, freeing up time and resources for more creative, strategic, and complex activities.

Automation is guaranteed to boost the  productivity, efficiency and safety, along with reducing  costs and human error. It is essential to recognise, however, that this new reality also entails some adversities including rising unemployment, social inequality, and a need to retrain the workforce. To reflect on this need to adapt and develop new skills is essential if a business is to thrive in an increasingly automated world.

 

What is Business Automation?

Business automation is the current use of computerised systems, software applications, devices and other technological tools to perform processes automatically or semi-automatically, entirely without or with minimal human intervention. It can de facto be applied to various levels and areas of the company, from operational to managerial processes.

As the technological advances and automation tools themselves are increasingly becoming accessible to people unable to program them, business automation is found ever more frequently in all company routines. Especially so in the routines of companies aiming for continued competitiveness by banking on innovation.

 

Benefits and Challenges of Business Automation: The Benefits

By the strategic implementation of innovative technologies, business automation can offer a range of benefits that optimise the performance and open up a range of growth potentials.

 

Greater Productivity, Efficiency and Quality

Automation saves time, reduces effort, and the incidence of manual errors. Automated processes guarantee consistent results and a high quality, with tasks carried out identically and without human error. And if there should be errors nonetheless, they can all be corrected by changing the underlying process.

 

Reducing Costs and Optimising Resources

By eliminating redundant tasks, automation can optimise the use of resources, significantly reducing the company’s operating costs, along with the waste of materials, time and energy.

 

More Employee and Customer Satisfaction

Wherever manual tasks are «tedious» or very demanding, automation enables staff to turn to more pleasurable and creative activities, boosting their satisfaction. And by dedicating themselves to activities that please them more, they end up having more time to focus on better customer service.

 

Greater Competitiveness and Strategic Advantages

In an increasingly competitive market, automation puts a company at the forefront of innovation, providing a crucial strategic advantage for success. By automating specific processes, you will be able to respond to market changes and customer needs with the flexibility that entails. Freeing up resources will meanwhile also help you make the most of new market opportunities.

 

Key Business Automation Processes

When weighing up the benefits and challenges of business automation, it is imperative that business automation not be viewed in an exclusive manner, as there are various automation technologies that organisations can apply.

Business process automation (BPA) is a strategy pursued to optimise a company’s processes by implementing software and technologies. As a rule, BPA involves creating automatically sequenced activities that respond to process flows and not just individual tasks. Various software programs are available to automate the management and provision of financial reports, HR processes, marketing activities, the commercial management, and even workflows, to name but a few.

Robotic process automation (RPA) uses software «bots» to imitate human responses at the user interface, automating recurring and rule-based tasks. This in turn permits problems to be solved without interrupting human workflows or the need for human monitoring and supervision, unlike other automation methods.

RPA supports companies in activities such as processing requests, sending notifications, updating profiles, making complex calculations, monitoring already automated tasks, and many others. Call centres, data migration, help desks and credit applications are only four examples where RPA can be useful.

Finally, intelligent process automation (IPA) is a technology resulting from the convergence of robotic process automation (RPA) and various AI technologies in the automation of business processes. IPA aims to take automation to a higher level of complexity, increasing agility across the board. Some examples of IPA include new, intelligent CRM systems that eliminate manual tasks, inventory control with the ability to automate an organisation’s entire value chain, or quality management.

 

Benefits and Challenges of Business Automation: The Challenges

According to a report by the McKinsey Global Institute, automation could eliminate 15 % of all global working hours by 2030, leaving around 400 million people unemployed.

Among the countries this report takes a closer look at, it is estimated that workers in Japan will be the most affected by this development. But the story is similar in the United States, where 23 % of all working hours could be lost to services and automation processes, taking millions of jobs along with them. [Jobs threatened by automation | source: Statista]

Medium-term automation could lead to the loss of 39 million jobs in the US by 2030, while rapid automation could make 73 million people lose theirs. But to offset the potential job losses, around 20 million of these newly unemployed could transfer to similar jobs where they perform slightly different tasks.

Even so, a significant proportion would need to be fully retrained in the US and many other developed countries. According to McKinsey, a third of the US workforce may have to be retrained by 2030, as well as almost half the Japanese workforce.

Rapid automation could also cost China and India 236 and 120 million jobs, respectively. The worst-case scenario in Japan would lose 30 million jobs. Mexico could have 18 million workers made redundant by then, and Germany 17 million.

The jobs most at risk from automation tend to be physical and predictable, such as fast food workers or machine operators. The safest jobs are generally the less predictable ones, including managers, engineers, scientists, teachers, and plumbers. [Automation could eliminate 73 million jobs in the US by 2030 | source: Statista]

Investing in Research and Development (R&D) is a direct contributor to overall global success for several reasons.

 

R&D drives innovation, enhances competitive advantage, facilitates market expansion, and contributes to sustainable development. The correlation between growth and innovation is evident in the way innovative activities lead to improved products, services, and processes, ultimately resulting in business growth.

 

Innovation as a Catalyst for Differentiation:

• Product Innovation: Investing in R&D enables companies to develop new products or improve existing ones, meeting evolving customer needs and preferences. This differentiation is crucial in maintaining a competitive edge in a crowded market.
• Process Innovation: R&D efforts often lead to more efficient production processes, reducing costs and improving quality. This can result in better profit margins and the ability to offer competitive pricing.
• Technological Advancement: Staying at the forefront of technology through continuous R&D allows companies to leverage the latest advancements, making them more agile and responsive to market changes. This technological edge can be a significant competitive advantage.

 

Facilitating Market Expansion

• Entering New Markets: Innovative products and services can open up new markets and customer segments, providing opportunities for growth. Companies that invest in R&D are better positioned to identify and exploit these opportunities.
  • Global Reach: R&D can tailor products to meet the specific needs of different markets, enhancing global appeal and enabling successful international expansion.
• Meeting Regulatory Requirements: R&D investment ensures that products comply with various international standards and regulations, facilitating smoother entry into new geographic markets.

 

Contributing to Sustainable Development

• Sustainable Innovation: R&D initiatives focused on sustainability can lead to the development of eco-friendly products and practices, aligning with global trends towards environmental responsibility. This not only boosts a company’s reputation but also meets the growing consumer demand for sustainable products.
• Energy Efficiency: Innovations in energy-efficient technologies and processes can reduce operational costs and environmental impact, contributing to long-term sustainability and profitability.

 

Correlation Between Growth and Innovation

• Revenue Growth: Companies that consistently invest in R&D typically experience higher revenue growth due to the introduction of innovative products and services that attract new customers and retain existing ones.
• Market Share Expansion: Innovation allows companies to capture greater market share by offering unique value propositions that set them apart from competitors.
• Intellectual Property and Patents: R&D efforts often result in valuable intellectual property (IP), including patents, which can provide additional revenue streams through licensing or can be used defensively to protect market share.
  • Barrier to Entry: Patents and proprietary technologies create barriers for competitors, securing a company’s position in the market.
• Customer Loyalty and Brand Strength: Innovative companies are often seen as leaders in their field, which can enhance brand reputation and customer loyalty. This strong brand recognition supports sustained growth and resilience in the face of market fluctuations.

 

Real-World Examples

Example 1: In the world of cell phones, Apple undoubtedly holds the most public credibility and prestige. However, that was not always the case. As one of the leading cell phone brands 20 years ago, Blackberry developed one of the original smart phones. BlackBerry’s once-dominant position in the market eroded due to their slow response to touchscreen technology and app development. Unlike Apple, who invested heavily in R&D and continuously brought innovative products to market, Blackberry failed to keep up. Apple’s consistent focus on innovation has led to an indisputable dominance within their market position, not to mention sustained growth beyond many of their failed competitors.

Example 2: Unlike Netflix, who developed their technology alongside market trends, Blockbuster failed to keep up. Their business model remained unchanged in the wake of media delivery, and further unchanged in the wake of media streaming. By the time Netflix had moved to On-Demand, Blockbuster had been thoroughly surpassed, with no way to catch-up to the technological evolution displayed by their competitor(s). Industry adaptation is key to business development, which Blockbuster neglected to recognise.

 

Conclusion

Investing in R&D is crucial for companies seeking global success. It fuels innovation, which in turn drives growth by differentiating products, opening new markets, and enhancing sustainability. The positive feedback loop between growth and innovation ensures that companies investing in R&D not only thrive but also lead their industries into the future. For FI Group UK and its global blog audience, emphasizing the strategic importance of R&D investment can inspire businesses worldwide to prioritize innovation, ultimately contributing to their long-term success and the advancement of global industries.

In an increasingly urbanised world, smart cities are emerging as a solution to the challenges of population growth and sustainability. In this respect, artificial intelligence (AI) plays a key role in their transformation, offering innovative tools to optimise urban planning, improve public transport systems, reduce energy consumption, and manage waste more efficiently. But cities will also face significant challenges in the coming decades, such as social inequality, overpopulation, pollution, and the need for sustainable infrastructures.

It is predicted that by 2050, approximately 68% of the world’s population will live in urban areas, increasing the pressure on urban resources and services. Which is where the implementation of AI technologies in smart cities could be a key ally for optimising the management of urban resources, as well as many other solutions. This article explores how AI is revolutionising our cities, making them more liveable, sustainable and efficient spaces, while addressing these crucial challenges.

 

AI and urban planning, a new urban planning alliance

AI is revolutionising urban planning by its capacity to provide advanced tools for managing and analysing large volumes of data. These technologies can enable city managers to create predictive models that anticipate critical urban situations such as traffic congestion and population growth, as well as other issues. By using machine learning algorithms, cities could for example optimise public transport routes, reducing waiting times and improving system efficiency. In addition, AI facilitates the identification of areas in need of development or renovation, helping planners make more informed decisions and design more sustainable and liveable cities.

Implementing AI in urban planning presents a number of notable challenges, however. The large-scale collection and analysis of data raises concerns about privacy and information security. There is moreover a risk that over-reliance on technologies could marginalise communities unable to access such innovations. It is crucial that decision-makers and city managers adopt a balanced approach able to combine technologies with public involvement. This would not only ensure that smart cities are efficient, but also inclusive and fair for all their residents.

 

Optimising urban resource management with AI

AI offers significant potentials for reducing the energy consumption in cities. By way of advanced algorithms and real-time data analysis, AI is able to optimise energy use in various urban infrastructures. For example, AI-based energy management systems could automatically adjust air conditioning and lighting based on environmental conditions and occupancy, thereby reducing energy waste. AI could also predict consumption patterns and adjust power distribution to avoid peak demand bottlenecks, improving the overall efficiency of the power system. These technologies are not only able to help reduce energy consumption, but also contribute to lowering carbon emissions, in line with the most ambitious urban sustainability goals.

In terms of waste management, AI could transform the way cities process waste. AI-based automated sorting systems are able to identify and separate different types of waste with greater accuracy and speed than traditional methods. In addition, AI could optimise waste collection routes, minimising fuel use and reducing greenhouse gas emissions. By analysing waste generation data, AI could also contribute to the development of more effective waste reduction strategies and the promotion of sustainable practices among citizens. Taken together, these AI applications can not only improve the efficiency of waste management, but also contribute to the creation of cleaner and more sustainable urban environments.

 

New issues and challenges

In conclusion, AI presents itself as a crucial tool to address the challenges faced by cities in the coming decades. AI capabilities are fundamental for turning our urban environments into smart cities. But the implementation of these technologies is not without its own challenges. Overcrowding, pollution, social inequality and the need for sustainable infrastructures are problems that will require innovative solutions and a balanced approach combining technologies with community participation and social equity.

As we move towards an increasingly urbanised future, it is essential to adopt strategies that not only focus on efficiency and sustainability, but also on inclusion and social justice. AI has the potential to transform our cities into more liveable and sustainable spaces, but its success will depend on how the challenges attending its implementation are addressed. Only a holistic and collaborative approach will help us ensure that the cities of the future are truly smart and equitable for all their residents.

In the last few years, Open Innovation (OI) has become a well-known strategy for companies to expand their business and find a more profitable way to innovate, obtain more varied ideas and developments, relying on the union of diverse sources and experts as a way of expanding innovative potential and optimise results.

 

What is Open Innovation? 

Open Innovation is a concept disseminated by Henry Chesbrough, which consists of creating a more participatory, distributed, and decentralised approach to innovation projects, relying on a range of companies and institutions to develop an idea, since a single company shall not have all the knowledge and resources necessary to innovate effectively on its own, regardless of its capacity or size. This absence paves the way for a search for other agents – external to the initial developer company – to contribute to the project, such as universities, startups, research institutes, and others, creating a business ecosystem. 

Thus, we can consider that OI is an approach that aims to create variable collaborative business models, in which interaction between different partners is encouraged through a network of incentives. This synergy between partners results in an environment conducive to the development of innovative solutions and to create value simultaneously. 

 

Types of Open Innovation: Inbound, Outbound, and Coupled 

We can first separate open innovation methods into three types:  

• Inbound: In this process, agents from outside are incorporated into the organisation. External knowledge and technology are integrated to improve company’s internal processes. 
• Outbound: The organisation transfers technology and knowledge in open processes. In this case, third parties exploit internal knowledge. Furthermore, within this context, the company generates income from the sale of its private property, in a partnership system with another organisation.  
• Coupled: In this scenario, Inbound and Outbound operations occur simultaneously. In this context, the company acquires external technology and at the same time transfers its ideas and technological knowledge to external corporations.  

 

What are the benefits?

Implementing Open Innovation may seem challenging, but it doesn’t necessarily have to be: firstly, you must assess your needs; next, you will need to organise a restructuring of your company’s mindset and its current processes; finally, choose the method that best suits the innovation you have in mind.  

Among the advantages of this system, we can mention:  

• Reduction of risks and costs: by opening the innovation chain the organisation is sharing all project development with a third party. This allows all associated values and risks to be shared, without overburdening the company that owns the idea.  
• Acceleration in the implementation of innovations: by involving external agents in project development, the tendency is for there to be an optimization of time. In these cases, the contracted third party shares its knowledge and technologies, making development processes faster and more efficient.  
• Improvements to already implemented products and services: open innovation not only guarantees new products, but allows, with the acquisition of external knowledge, that products and/or services already implemented in the company are enhanced. 
• Strengthening Branding: in this innovation model, the company opens its doors to the entire market. Obtaining partners contribute to publicising the business, proactively strengthening branding. 
• Relevant Networking: collaboration brings together companies with the same profile and development objective as yours, in addition to integrating creative forces, talents and skills. It strengthens professional networking, creates relevant brand association within the market, and further spreads new ideas.
• Increased ROI: Return over Investment is an indicator that allows you to know how much money the company earns with each investment made. With the implementation of Open Innovation, the company tends to have a greater return on investment, as innovation is implemented quickly, cheaply, and safely promotes a chance of obtaining greater profits.  

However, it is still important to remain aware of possible challenges, such as the possibility lack of clarity on objectives being pursued, lack of communication and coordination between the parties involved, selection of ideas, and intellectual property rights resulting from collaboration. 

 

What is happening in the rest of the world?  

Open Innovation is still growing. According to Economist Impact’s 2021 Open Innovation Barometer, OI’s current framework demonstrates profound progress across all sectors studied, with an average score of 62.9 (on a scale of 0 to 100, with 100 being fully open), in which large companies demonstrate greater adoption of OI Practices. As Open Innovation ecosystems advance, so does interest and implementation in the most diverse environments: also, according to this report, 95% of respondents stated that their companies practice OI, with 54% applying the practices in all or most of their projects, and 90% that have implemented key pillars of this method or plan to implement them.  

In Europe, Sopra Steria’s Open Innovation Report 2023 shows a rapid uptake of OI, with almost 3 in 4 (72%) European companies conducting projects in collaboration with startups, based on around 1,648 companies and startups from 10 countries. The data also shows 89% of objectives were achieved in corporations that managed collaborations using a dedicated business unit.  

The Panorama of Open Innovation in Companies in Brazil, a study released by Softex, also indicates that Open Innovation is present in 88% of Brazilian companies, considering companies of all sizes, markets, and regions of the country, having a variety of partners: 67% startups, but also including universities, companies, among other.  The concept of Open Innovation is increasingly widespread in society, with the economic and competitive landscape demanding that companies implement increasingly agile and technological processes. In this way, Open Innovation process becomes a viable and good option due its opening of the innovation chain, optimisation of processes and improvement of ideas, orbiting companies, institutions, and other pillars of the market, such as universities, innovation hubs and government.  

The success of the 2030 Agenda depends on the active participation of the private sector. Companies actually have a crucial role to play for investments in sustainable projects, the adoption of responsible business practices, and collaboration with governments and organizations.

By embracing the Sustainable Development Goals (SDGs), businesses can enter new markets, enhance brand reputations, build customer loyalty, reduce costs, and position themselves for long-term success. Sustainability is not just an option, but imperative for companies eager to thrive in a changing market.

“Companies are a vital partner in achieving the Sustainable Development Goals. Companies can contribute through their activities, and we call on businesses around the world to assess their impacts, set ambitious goals and communicate the results transparently.” – Ban Ki-moon, Secretary-General of the United Nations at the launch of the SDGs.

 

Background: What are the SDGs?

In 2015, a historic pact brought the world together: the 2030 Agenda for Sustainable Development. This initiative, adopted by all UN member countries, came into force in 2016 and defines the priorities for a more sustainable future by 2030.

There are 17 Sustainable Development Goals (SDGs) altogether, as an urgent call to action for all countries – both developed and developing. The SDGs recognize that the eradication of poverty and social progress need to go hand in hand with healthcare, education, equality, economic growth, environmental protection and the fight against climate change.

Adopted by 193 nations, these goals aim to “leave no one behind”. With its common language for all stakeholders, sustainability targets in critical areas for humanity, and basis on 5 fundamental principles (Planet, People, Prosperity, Peace, and Partnerships), the 2030 Agenda forges a trail to a fairer, greener, and more prosperous future for all.

 

SDGs in the world and in Europe

From 2015 to 2019, global progress in realizing the 17 SDGs merely amounted to 0.5% per year, far from enough if they are to be reached by 2030.

Then the COVID-19 pandemic made the situation even worse, with some indicators stagnating or even receding between 2020 and 2021, particularly in developing countries.

Against this scenario, the European Commission has taken a lead in promoting sustainability. The Commission’s ambitious political programme, with the SDGs at the heart of its guidelines, seeks to accelerate progress in all sectors, both within the EU and on a global scale.

The full implementation of the United Nations 2030 Agenda is essential to strengthen global resilience and prepare the world for future challenges. The green and digital transitions shaping the future of society call for an unwavering commitment to the SDGs.

 

Opportunities for companies

Small and medium-sized enterprises (SME) have a crucial role to play in building a more sustainable and prosperous future in line with the Sustainable Development Goals of the 2030 Agenda.

By integrating the SDGs into their business strategies, SMEs can stand out in the market, generate new opportunities, and contribute to positive changes in society and the environment.

 

Reducing the cost of capital

Sustainable financing is vital for achieving the sustainability goals, as it funnels private investments into a carbon-neutral, fair, resilient, and resource-efficient economy.

Investors are increasingly seeking to align their portfolios with the SDGs, channelling resources to companies that demonstrate an active contribution to the 2030 Agenda’s objectives. As a consequence, companies with a strong performance in ESG (environmental, social and governance) aspects are held to be more resilient and competitive, thus attracting investment and reducing capital costs.

 

Reducing operational, regulatory, and reputational risks

In a scenario of growing environmental and social challenges, businesses that fail to adapt run the risk of suffering major setbacks. Whereas alignment with the SDGs offers them tools for a more effective risk management.

Supply chains, for example, are particularly exposed to the effects of climate change and the depletion of natural resources. Which means in other words that prioritizing and managing these risks enables companies to secure their operating licence for the long term.

As the 2030 Agenda approaches its deadline, many governments may introduce new policies to ensure its achievement. Stricter regulations for unsustainable practices could lead to costs for businesses that fail to adapt, while tax incentives and subsidies support those that invest in sustainability.

Evaluating a company’s environmental and social impact, identifying opportunities for reducing resource consumption and greenhouse gas emissions, investing in sustainable technologies and practices, involving stakeholders and adopting a clear and transparent sustainability policy are all now essential for achieving long-term success.

The Sustainable Development Goals serve as a global strategic map for companies to shape, guide, communicate and report on their strategies, objectives, and activities. They are a unique opportunity for businesses to ensure their competitiveness but, above all, take the lead in building a more sustainable and prosperous future for all.

The concept of digital twins has emerged as a powerful tool across various industries in recent years, revolutionizing the way organizations design, operate, and manage complex systems.

From astronomy to smart cities, digital twins are reshaping the landscape of innovation, and driving efficiency, productivity, and sustainability.

 

Data-driven learning systems

Definition

A digital twin is a virtual replica or simulation of a physical asset, process, or system that enables its real-time monitoring, analysis, and optimization.  

The object under study is equipped with various sensors linked to vital areas of its functionality. These sensors generate data on several aspects of the physical object’s performance. The data are then sent to a processing system and applied to the digital copy.

Once populated with the data, the digital copy can be used to run simulations, investigate performance issues and develop possible improvements, all with the aim of generating valuable information.

 

The 4 types of digital twin

Digital twins are divided into 4 levels, bottom-up, depending on the integration level of data and parameters:

• Level 1: Component Twin
• This represent the smallest elements of a system such as a specific part of the equipment or product.
• Level 2: Digital Product Twin
• Virtual representations of physical products or assets.
• Level 3: System Twin
• These represent entire systems or ecosystems, embracing multiple interconnected components, processes, and stakeholders.
• Level 4:  Digital Process Twin
• Replicates the behaviour and dynamics of complex processes or systems, such as manufacturing processes, supply chains, or industrial operations.

 

Application: industrial uses of digital twins

 

Automotive/transportation: driving innovation with digital vehicle twins

Digital vehicle twins allow engineers to analyse how different factors such as aerodynamics, fuel efficiency, and safety features impact the overall performance. By simulating various driving conditions and scenarios, engineers can identify potential issues, refine designs, and improve the reliability and safety of vehicles.

The twins also enable predictive maintenance and condition monitoring of vehicles, enabling fleet operators to anticipate maintenance needs, minimize downtime, and optimize asset utilization.

 

Telecommunications: efficient networks and better customer experience

Telecommunication companies use digital network twins to create virtual replicas of their infrastructures, including towers, antennas, switches, and cables. These digital twins simulate network behaviour, traffic patterns, and performance metrics, enabling operators to identify bottlenecks, predict capacity requirements, and optimize resource allocation.

By integrating real-time data from network elements, sensors, and customer interactions,  digital network twins provide operators with actionable insights into network health, enabling proactive maintenance, fault prediction, and service restoration.

 

Construction: building the future with BIM

In the construction industry, digital twins are known as Building Information Models (BIM). BIMs are a digital representation of a building or infrastructure project that mirror the geometry, spatial relationships, and other relevant data.

Digital twins of construction projects enable architects, engineers, and contractors to collaborate more effectively, visualize designs in 3D, and identify potential conflicts or errors before the start of construction. By simulating construction processes and sequencing activities, BIMs help to optimize project schedules, reduce costs, and improve project efficiency overall.

 

Medicine: personalized proactive patient care with digital health twins

Digital health twins are virtual representations of individual patients. They enable clinicians to tailor treatment plans and interventions to the patient’s unique medical history, genetic makeup, and lifestyle factors.

By analysing data from wearable devices, electronic health records (EHRs), and medical imaging, clinicians can identify trends, detect early warning signs, and intervene proactively to prevent adverse health outcomes.

Pharmaceutical companies can leverage digital twins to simulate drug interactions, predict drug efficacy, and identify patient subpopulations for targeted therapies, leading to more efficient drug discovery and development processes.

 

Smart cities: optimizing urban systems with citywide twins

In smart cities, digital twins are known as citywide twins. By modelling transportation networks, energy grids, water systems, and other critical infrastructure, citywide twins help to identify inefficiencies, anticipate future needs, and develop strategies for sustainable growth. They also support resilience to and preparedness for disasters by modelling the impact of natural catastrophes, pandemics, and other crises. In addition to which they also facilitate citizen engagement and participatory planning by providing interactive platforms for residents to explore urban data, provide feedback, and contribute to the development of their communities. By fostering transparency and collaboration, citywide twins empower citizens to play an active role in shaping the future of their cities.

 

Astronomy: exploring the cosmos with virtual observatories

Digital twins of telescopes allow astronomers to test different configurations, calibrate instruments, and optimize their performance before conducting actual observations. In addition, virtual observatories can integrate data from multiple telescopes and sensors, enabling astronomers to correlate observations and detect hidden patterns in the vastness of space.

The development of new technologies has changed our perceptions and how we grow businesses of late, bringing a range of new concepts and routines to our daily lives. Web 3.0 and metaverses, for example, are two emerging technologies that are expected to revolutionize the way we do business in the years to come, and continually scrutinized and evaluated at this point in time.

 

Web 3.0

Web 3.0, which may also be known as the semantic web, is a concept developed for the next generation of the world wide web, using artificial intelligence (IA) and learning algorithms as well as blockchain technologies to understand data in their sharing, and facilitate the search for information and its storage in a decentralized computer network, based on the context.

Blockchain is a method of storing information – i.e. a database – that is shared among a network of computers and duplicates and distributes transactions and information, making it difficult or impossible for the system to be manipulated and hacked.

Compared to the current internet network – referred to as Web 2.0 – a decentralized web would offer greater security and privacy, along with more data ownership, as it allows users to manage and control their personal information, rather than relying on the architecture of a central server and its relationship with the client, as is the case today.

 

Metaverse

“Metaverse” is a term referring to virtual worlds that allow online social interaction using digital avatars, embracing virtual reality (VR) or augmented reality (AR) technologies to create an immersive experience. Within the space created, aspects of the physical world are simulated and reinforced through resources such as social media and digital currencies, as well as avatars, events, online activity centres, etc., elements that vary from one platform to the next.

In the last two decades, the emergence and proliferation of games promoting popular metaverses, such as Minecraft and Second Life, have engendered attempts to create ever more platforms aiming to integrate virtual and physical spaces in metaverse interactions.

 

Technology and business

According to Citi, metaverse businesses are expected to contribute between $ 8 and $13 trillion to the global economy by 2030, with an estimated five billion users. But what is more important to start with is to consider the users likely to go for these new technologies, and what they are looking for.

In the most popular metaverses such as Roblox and Minecraft, people in general and generation Z (born between 1997 and 2010) in particular are increasingly spending their money on virtual items and accessories, many of them exclusive to the respective metaverse. Which indicates that, apart from creating virtual versions of existing physical products, there are also development potentials for unique virtual products and experiences.

Marketing can play a key role in this, too. In 2022, major brands like Disney and Nike announced strategies or projects that embraced metaverses as a new means of engaging with customers, of broadening the understanding and study of online consumer behaviour, and enabling even more personalized and precisely focused experiences tailored to the interests and needs of each target audience.

Web 3.0 could likewise enhance customer relationships. Trust-building between businesses and their customers is eased given the transparency ensured by the «immutability» of data stored in blockchain technologies, infusing the latter with greater confidence in the information’s authenticity. Better legal compliance is another benefit, with immutable transaction records that are transparent to all parties helping businesses meet governance requirements.

As Web 3.0 is designed to be decentralized, applications are unlikely to require expensive servers and data centres, and can be run on computer networks provided by end users, eliminating the need for third-party service providers. Another cost-saving benefit is the potentially easier supply chain monitoring, enabling possible issues to be identified with greater agility and better time management.

 

What is the upshot for us?

Web 3.0 and metaverses are highly networked in their focus on sharing content and experiences online, and both based on advanced technologies such as the AI employed in their development and blockchains, a concept undergoing constant evaluation as an integral element of Web 3.0, set to power metaverse services.

Although adjustments may be necessary, the future potential of these two technologies is huge and highly promising, offering countless opportunities for innovation in a new digital wave able to change the way we do business in all kinds of ways. Potential challenges do exist – such as the incorporation of Web 3.0 in the metaverse, potentially leading to a virtual world that is fully integrated with the internet, or the availability of resources that support these new tools – but they can be overcome with time, promising a new era of access and change.

The Technology Readiness Level (TRL) scale is used to assess the technological maturity of an innovation or technology before its operational implementation. This tool is commonly used in the field of research and development (R&D) to provide a common understanding of a technology’s degree of readiness.

 

TRL is a concept created by NASA

NASA (National Aeronautics and Space Administration) developed the TRL scale in the 1970s. Originally, this tool had 7 levels of maturity and was used to manage the technological risks of NASA programmes. It was not until 1995, however, that a final, global version of the scale was published, comprising 9 different maturity levels altogether.

 

Technology Maturity levels

The TRL scale is made up of nine levels, numbered from 1 to 9, representing different stages of technological development. Each TRL is associated with specific criteria that describe the characteristics and performance of the technology at that stage of development.

 

What is the meaning of TRL?

Evaluating a technology’s TRL enables us to understand where it is in its development cycle and to identify the remaining stages required to reach maturity and commercialization.

The scale is used by researchers, engineers, companies and organizations to assess the TRL.

 

The 9 levels of TRL

Stage: Idea

• TRL 1 – Fundamental research
  This is the initial stage of research, where scientific principles are explored and understood.
• TRL 2 – Applied research
  Scientific principles are applied to develop technological concepts and prototypes.
• TRL 3 – Experimental proof of concept
  Experiments are carried out to demonstrate the feasibility of the technology and validate the basic principles.

 

Stage: Prototype

• TRL 4 – Laboratory validation
  The technology is tested in the laboratory to assess its performance and functionality.
• TRL 5 – Simulated environment validation
  The technology is tested in simulated conditions approximating the actual environment it is to be used in.

 

Stage: Validation

• TRL 6 – Validation in an operational environment
  The technology is tested in an operational environment to assess its performance in real-life conditions. This crucial stage calls for the demonstration of an actual system’s prototype.
• TRL 7 – Initial operational deployment
  The technology is put to limited operational use and evaluated (at prototype scale) under real-life conditions.

 

Stage: Production

• TRL 8 – Operational use
  The technology in its final form is operationalized on a large scale, demonstrating its reliability and effectiveness.
• TRL 9 – Market-ready technology
  The technology in its final form is fully developed, validated and ready to be marketed and deployed on a large scale.

 

The TRL scale and public funding

 

Horizon Europe

In 2014, the TRL scale was incorporated in projects funded by the European Union (EU) as part of the Horizon 2020 framework programme.

The Horizon Europe programme then adopted the TRL scale as an indicator to improve the positioning of projects applied for in the programme. This unified scale enables applicants and evaluators to meet the expectations of the European Commission (EC).

This makes the TRL scale a key tool in the Horizon Europe 2021-2027 framework conditions for participation. To be eligible for funding, projects need to meet the following requirements:

 

Activity	Funding rate	TRL
RIA Research & Innovation Actions	100 % + 25 %	4 – 6
IA Innovation Actions	70 % + 25 %	6 – 8
CSA Coordination & Support Actions	100 % + 25

 

A higher TRL in a call text thus clearly indicates that the EC is looking for a more applicative solution within the project, while a lower TRL indicates that a more fundamental research project is expected.

The TRL is also used to indicate the ‘entry point‘, i.e. the maturity level of a given technology, product or process at the start of the project. In this case, the respective TRL serves as the ‘lower limit’.

 

TRL in innovation grants and subsidies

In the application procedure for subsidies and innovation, funding agencies use the TRL scale to assess the eligibility of different innovative projects.

 

TRL in Funding of innovation projects

 

 

TRL in Funding of investment projects

 

 

TRL Scale in Tax Credits Projects

The TRL scale is also used to assess the eligibility of projects for tax credits, such as the Research Tax Credit (CIR) and Innovation Tax Credit (CII).

Projects in the early stages of development are eligible for CIR, while projects further up the TRL scale are eligible for CII.

 

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Many countries are pursuing emission reduction policies as climate change has become one of the world’s principal challenges. Nations worldwide are facing macroeconomic and financial challenges that need to be tackled if governments want to achieve the ambitious targets for net zero by 2050. Decarbonising the global economy has become one of the main objectives governments around the world are striving to achieve. 

What this calls for is a national awareness of the need to respect the environment and ensure that energy consumption is sustainable, and ideally decarbonised. 

The scarcity and price volatility of fossil fuels are actually affecting the competitiveness of European industries and their ability to establish long-term strategies for growth. At the same time in this climate emergency, public authorities are recommending that industries focus on decarbonation by switching to low-carbon energy sources. 

Companies play an important part in the achievement of the targeted objectives.

 

Decarbonation of industry

Decarbonation includes all measures taken to reduce the carbon footprint, i.e. the emissions of greenhouse gases, mainly carbon dioxide (CO2) and methane (CH4), and thus the impact on the climate. 

More specifically, decarbonising your business means: 

• Managing your energy mix  
• Managing your material mix 
• Managing your energy performance

 

Main objectives

As a central theme of the COP26 discussions and driven by international cooperation, many countries around the world have pledged to reduce their carbon footprint. 

The European Union (EU) is aiming for carbon neutrality by 2050. This means that the public authorities wish to strike a balance between carbon emissions linked to human activities and the absorption of carbon from the atmosphere enabled by carbon sinks such as forests. 

Inevitably, the industrial world is urged to take action.

 

The key role played by public funding

Meeting the ambitious targets for decarbonising the global economy by 2050 necessitates the development and implementation of a wide range of energy-efficient technologies. 

To achieve this, most governments across the globe support the private sector and research and development (R&D) in the field of energy efficiency, with government policies aimed at boosting energy-efficient technologies. In the process, many countries rely heavily on spending measures such as increased public investment and subsidies for renewable energies. 

Investments in the energy sector, and especially renewable energy, are vital to honour the Paris Climate Agreement adopted in 2015. For example, the International Energy Agency (IEA) estimates that cumulative investments of more than USD 6 trillion will be needed by 2040 if the agreement to keep the global average rise of surface temperatures below 2°C is to be met. 

The positive impact of R&D spending in the energy sector has been demonstrated as it helps to reduce greenhouse gas emissions over the long term.

 

European public funding for decarbonation

A vast legislative panel regulates decarbonation across the EU, made up of European directives and programmes such as the: 

• Green Deal: a package of measures put in place by the EU to achieve net zero by 2050. 
• Fit for 55 package: a set of interconnected proposals aimed at achieving a fair, competitive and green transition by 2030. 
• EU Emissions Trading System (EU ETS): a cap and trade system setting a limit aligned with the EU’s climate targets for the total amount of greenhouse gases emittable by the installations and aircraft operators involved. 
• Corporate Sustainability Reporting Directive (CSRD): this aims to harmonise the corporate sustainability reporting while improving the availability and quality of published data. 
• Taxonomy: a classification system defining alignment criteria for economic activities with the net zero by 2050 objectives. 

To incentivise the uptake of decarbonation measures, various European countries offer a wide range of funding opportunities encouraging industry players to accelerate their decarbonation.

 

Energy transition budget

According to the IEA, global annual investments in clean energy will need to more than triple by 2030, reaching approximately USD 4 trillion, if the net zero by 2050 objectives are to be achieved.

 

What does a concrete decarbonation project look like for a company?

The sustainability of a business becomes a central issue in a context where decarbonation is essential. 

A vital requirement in this respect is to control the energy mix by reducing the reliance on fossil fuels. Just as crucial is getting the material mix under control by adopting waste management and recycling practices. And there is a parallel need to control the energy performance by reducing consumption and emissions.  

Finally, eco-design and circular economies are essential approaches to promoting a more sustainable use of resources and minimising the environmental impact. 

By integrating these various measures, companies can contribute to the sustainability of their business while acting in an environmentally responsible manner.

 

Examples

Companies have a wide range of concrete projects they can implement to promote sustainability and reduce their environmental impact. Some of these projects include: 

• Heating, Insulation, and Relamping: Companies can improve their energy efficiency by upgrading heating systems, enhancing insulation, and replacing traditional lighting with energy-efficient alternatives. 
• Renewable Energies: Implementing renewable energy sources such as photovoltaic panels, geothermal systems and biomass can help companies reduce their reliance on fossil fuels and decrease greenhouse gas emissions. 
• Waste Heat Recovery: Capturing and utilising the waste heat generated by industrial processes can help companies optimise their energy use and reduce energy waste. 
• Industrial Processes: The electrification, modernisation and rationalisation of industrial processes can help to improve the energy efficiency and reduce environmental impacts. 
• Energy Monitoring: Implementing the Energy Management System (EMS – ISO50001) and monitoring systems can help companies track and optimise their energy consumption, leading to cost savings and greater sustainability. 
• Eco-Design and Waste Management: Companies can adopt eco-design principles to develop products that are more environment-friendly throughout their lifecycle. Introducing recycled raw materials (RWM) in processes and working in closed cycles can additionally minimise waste generation, reduce scrap, and promote recycling and reuse. 
• Transport: Companies can explore sustainable transportation options such as electric vehicles, alternative fuels and efficient logistics to reduce carbon emissions associated with their operations. 

By implementing these projects, companies can make significant progress in achieving their sustainability goals, reducing their carbon footprint, and contributing to a greener and more sustainable future.

 

A complex process

The implementation of strategic and complex projects calls for a thoughtful and well-planned approach. Especially as these projects can involve various areas such as building, production, and work routines. They often require significant investments in both the operational expenditure (OPEX) and capital expenditure (CAPEX). Projects on this scale also involve technical aspects, particularly concerning energy standards and requirements. It is essential to comply with current regulations and seek energy-efficient solutions. 

Financing these projects can be complex, with a need to mobilise multiple funding sources such as European, national and regional subsidies, repayable advances, tax credits, and Energy Savings Certificates (EEC). 

Implementing these projects moreover entails a complex value chain, with many players involved. It is meanwhile essential to keep a close eye on regulatory and strategic developments, establish an accurate inventory, formulate recommendations, make informed decisions, implement the necessary actions, manage the financial aspects, and continuously monitor the results achieved. 

The success of these projects depends on a rigorous management and effective coordination of all the stakeholders involved. Reliance on solid expertise and close cooperation with the various stakeholders are essential to ensure the success and sustainability of these complex strategic projects. 

Research and development plays a fundamental role in the advancement of science, technology and innovation. Organisation for Economic Cooperation and Development (OECD) countries recognize the importance of encouraging investment in R&D to boost economic growth and improve competitiveness. 

In this sense, many countries have implemented a series of tax incentives to promote investment in R&D. These incentives seek to reduce the costs (and cover the risk) associated with research and development, encourage collaboration between companies and research centers, and stimulate the creation of highly qualified jobs in the private sector.

 

Tax incentives for R&D

One of the most common incentives is the tax deduction for R&D activities. This scheme allows companies to deduct a percentage of R&D expenses from their tax base, which reduces the tax burden and increases the resources available for investment in research and development. Some countries offer additional deductions for the hiring of qualified personnel or for the acquisition of technological equipment. 

Another incentive used in many OECD countries is the R&D tax credit. This mechanism allows companies to obtain a tax credit equivalent to a percentage of R&D expenses. Tax credit is a direct benefit that individuals can use to reduce the tax payable or even obtain a cash refund if the credit exceeds the tax owed, unlike tax deduction.

In addition to direct tax incentives, some OECD countries have implemented special regimes for research and development, which offer additional benefits, such as exemption from taxes on income derived from the exploitation of patents or reduction of taxes on profits from patents. capital obtained from the sale of assets related to R&D.

In many cases, R&D tax incentives are designed to encourage collaboration between companies and research centers. For example, some countries allow the transfer of R&D tax credits between companies, facilitating collaboration on joint research projects. Other incentives include the possibility of deducting R&D expenses carried out by third parties, such as universities or research centers, as long as effective collaboration is established. 

 

R&D Tax Incentives Intensity Map

It is important to highlight that tax incentives for R&D vary significantly between different countries. Each country has its own regulatory framework and establishes its own conditions and requirements to access tax benefits. Some countries offer more generous incentives, while others have stricter requirements. Therefore, it is essential that companies interested in taking advantage of these incentives consult the current legislation in each country and obtain appropriate advice.

 

 

For this map to be representative of the different nature of R&D tax incentives (volume- based and incremental tax credits, super deduction), we took the scenario of a large company with R&D expenses during the last 10 years. Every year the amount of eligible R&D expenses is growing, as such, the claimant can apply for incremental R&D tax credits and deductions. The effective return on the R&D expenses is shown in the legend as a percentage of posttax reduction.

 

How can FI Group help you?

At FI Group we have extensive knowledge and experience in obtaining these tax incentives on different continents, with a global and coordinated strategy that is also complemented by the management and obtaining of public aid and subsidies for different types of investments. The combination of both incentives, from a strategic point of view and from a financial point of view, can mean for the company an important differentiation and competitive advantage within its scope of action. 

FI Group has over 20 years of experience. Our specialized experts are at your disposal to analyze the fit of your project and advise you on obtaining tax incentives. Contact us.

What is the Digital Transformation?

 

The digital transformation is not just one thing or activity, but an entire process by which companies enhance the digital technology in their businesses, using it to change or create new processes, cultures, and customer experiences, optimising all the activities right from the start. The process can vary from one company to the next, depending on how the technology is applied and implemented.  

Many ways lead to digital transformation and its changes, and every organisation’s journey will be unique. A company might add AI as a tool for optimising the customer experience or for developing new strategies to make its daily team routines more efficient. The organisation’s operations are rewired by the constant evolution and integration of technologies that improve its functions.  

To be successful, the digital transformation calls for a variety of coordinated activities: it is a long-term effort with continuous adaptations and changes.  

 

Defining Digital Transformation Strategies

• Transformation business strategy: The technological route you opt for now will decide your company’s success. 
• Realigning business operations: What do your customers and employees need most, and how can digital processes help? The design of better processes can be based on these questions. 
• Adoption of new practices for agility and experimentation: As customer expectations mount and the pace of change quickens, new ways of working need to be introduced. To be successful, the digital transformation needs to pursue a varied approach that pays heed to the availability of technologies and human adaptability. 
• Flexible core technologies for sustainable change: By staying flexible, you can catalyse innovation across your enterprise and form ecosystem partnerships more easily to drive speed and scale. It is important not to get stuck with just one technology. Openness to new possibilities and improvements allows for fast and sustainable changes, while keeping the needs of your client or team in focus is key. 
• People management: How can technologies enable better knowledge sharing and collaboration? What should the future of work look like? Technologies face workers with new challenges, but can also solve many of them. To make them work, the digital basis, digital operations and digital skills of the workforce all need to be supported by the management and a culture that welcomes new technologies and seeks the best ways of integrating them in everyday life. 

 

Digitalisation vs. Digital Transformation

Even if the mention of digital transformation will automatically make you think of digitalisation, it is important to emphasise that the two are not the same. Digitalisation can be seen as an integral part of the digital transformation process and one of its ultimate pillars. But what is important even before this point is to first identify the requirements and possible improvements between teams and customers and their systems, and then set up a process for changing the culture and adapting routines to the new system installed.  

Digitalisation is mostly about technologies – their application to change a business and automate business processes, step by step or rolled-out as a project – whereas the digital transformation is not, but can include digitalisation as an integral part in its continuing quest for new procedures while paying greater attention to people and their attitude to changes in the company culture.

 

What does the digital transformation mean for FI Group?  

In FI Group, too, the digital transformation is brought about in the most diverse ways, all aimed at providing added value for clients and employees. The digital transformation here proceeds incrementally in a stream-aligned structure – a model of organisation and team interaction where squads with digitalisation strategies for services in various areas globally develop and manage digital tools for teams and clients. 

Applying new ways of systematising documents and data is meanwhile another operative element of the digital transformation – the establishment of new organisational methods facilitates and speeds up the work and access to required information. 

More locally, we also have our Scientific Department, established by FI Group France in 2019, which leads the research relating to artificial intelligence and NPCs, aiming to enable a regular scientific and technological supervision for proposing new approaches and supporting R&D Financing Consultants in their daily missions.  

OpenAI, Chat GPT, and generative language models

2023 will go down as the breakthrough year for ChatGPT due to the intuitive capabilities and wide scope of applications of the tool.

But where did it all start?

Created in 2015, OpenAI has notable founders such as Elon Musk and Sam Altman with the aim of integrating artificial intelligence into society for the benefit of humanity. Looking back on the last seven months, you can definitely say their work has impacted society through their creation of ChatGPT.

In a nutshell, ChatGPT is an AI application that has been ‘trained’ to understand natural language and conversation. Pulling data from the internet and presenting its findings in easy to understand responses. Furthermore, it can be used as a translator, create content, summarise text and process / write code.

 

The R&D

Ironically, you can find out about the R&D behind ChatGPT by simply asking it. The tool identifies five components that make up its development:

1. Training Data – Large amounts of text, sources that include books, articles, and websites – where it can capture grammar and context.
2. Pre-Training – Learning to predict the next word in sentences and understand the patterns and relationships it sees from its training data.
3. Fine-tuning – Final stages of learning translation, question answering, and conversation.
4. Architecture and Algorithms – Transformer models help natural language processing tasks, for example, capture contextual relationships effectively.
5. Iterative Development – The final stage of testing the previous four components, making fine adjustments to any imperfections.

However, it can be difficult to put all this development into perspective and understand the gravity of its intelligence. The English language is comprised of one million words. In comparison, ChatGPT is made up of ten billion words, including fifteen languages (incl. English, French, Russian, Chinese, Arabic and Urdu), and sixteen programming languages (incl. Python, Java, JavaScript, C++ and, HTML/CSS).

If you wanted to dive deeper into the development of the tool, tokenization is the breaking down of the sequence of text into smaller units, appropriately called tokens. These help ChatGPT’s natural language processing (NLP) for further development.

 

Applications

As previously mentioned, OpenAI reached their goal of impacting society through their work. The applications for ChatGPT are vast, content creation, consultancy, and customer support to name a few.

A popular term being used more and more within industries is, ‘ChatGPT won’t take people’s jobs, people that use it will’. Which to an extent is correct. If utilised correctly by competent professionals with in-depth knowledge of their profession, then ChatGPT can allow for streamlined workflows and increased productivity.

Despite having ten billion words, mistakes can still be made. Users who copy and paste its responses risk not only incorporating the errors the tool might have created but also limiting themselves by hindering personal development in their respective careers.

 

Introducing MarIA

FI Group has made the decision to move away from ChatGPT. At a glance this decision might undermine what was said previously about streamlining workflows, however, we have opted to use a different tool. We are launching MarIA which uses AzureGPT functions. Similar to ChatGPT, but can ensure that conversations and data shared with it remain in the Azure environment which provides an additional level of security.

On the topic of ChatGPT, FI Group France Scientific Director Charlie Grosman said:

‘while it generates useful and relevant information, in a short period of time, it is not a technology that employees should trust at an exact level».

What does MarIA mean for our clients?

FI Group requires a lot of sensitive information from our clients such as confidential R&D project details and employee salary, if this information is shared with ChatGPT it is then stored in OpenAI’s database and outside of our control. MarIA ensures that any private information is kept safe in our own database and cannot be accessed by anyone outside of FI Group.

Moreover, MarIA will also limit how much FI Group employees can use its functions. Ensuring that work is being done by real people and aided by the tool, when necessary, rather than the other way round. Meaning, clients can be assured they are getting genuine expert client opinions.

Given the great volumes of data and information to be handled these days, companies need to implement security measures and processes to guarantee data protection and privacy. 

In the IT world, companies are becoming increasingly vulnerable to possible cyberattacks. It is therefore crucial for all organizations to have information security systems enabling them to analyse and detect possible anomalies that could indicate a potential threat to their servers. 

Which is why we at the FI Group have an information security management system (ISMS) to guarantee the confidentiality and protection of internal information and our clients’ data. And in this respect, we have also been awarded the ISO 27001 certification again. 

This certification demonstrates our commitment to providing high-quality products/services while adhering to strict international standards. We’re proud to have achieved its renewal, which recognizes the quality and strength of the FI Group’s ISMS. 

 

Why ISO? 

Information security management systems are made up of policies, organizational structures, procedures, processes and resources necessary to guarantee the confidentiality, integrity and availability of information in an organization. 

For some years now, leading international standardization bodies have been establishing requirements for the implementation of information security management systems. One of the most frequently used among them is the 27001:2017 standard by the International Organization for Standardization (ISO) because it is widely recognized internationally and permits implemented information security management systems to be certified. 

 

Advantages of being (ISO) certified 

• The certification helps us to differentiate ourselves from competitors by highlighting our extensive commitment to information security and data privacy, along with defining high quality and excellence standards. 
• It demonstrates that we have a powerful information security and privacy management system in place that complies with national legislations. 

• The certificate and underlying ISMS make us more competitive by reducing costs that would have an impact on our business continuity. 
• Our processes become safer, as well as more traceable. 
• And it efficiently tests our compliance with the security requirements of third parties. 

 

Which countries is the FI Group ISO 27001 certified in? 

We have implemented security measures and processes in several FI Group countries to ensure that all our systems are safe, and to demonstrate our commitment to customers. The countries already certified are:  

– Belgium 

– Brazil 

– Canada 

– Chile 

– Colombia 

– France 

– Portugal 

– Spain 

– USA 

– United Kingdom 

 

To be included in the certification this year: 

– Germany 

– Italy 

Spain additionally has an ISO 27701certificate demonstrating an even higher level of privacy and data protection. 

 

How does the renewal process work? 

The renewal process has two major parts and takes a whole year. 

The first part is an internal audit where all the ISO domains are evaluated, and we can verify the strength of the controls implemented in the company. 

Once the internal audit has been completed, we focus on the aspects identified as potential improvement areas while working on the continuous development of our information security management system. 

This process takes a whole year because it needs to continuously update and develop the implemented controls while adding new checks and processes that help to strengthen our company. 

The second major part in October is the external audit where the company’s compliance with the controls and domains required by ISO 27001 is evaluated. 

Once this audit is done, the country in question will either be certified again, unless of course it has failed to pass it. 

 

Before and after certification 

We can see an improvement in our company’s processes and safer procedures that allow us to work with our own and customer information while maintaining the highest security standards. 

The difference after implementing the certification is most tangible in our company’s day-to-day business and the confidence that we are working with truly private and confidential data. 

Innovation and technological development lie at the core of FI Group’s DNA, filtering down through every member of the group. These elements are deemed indispensable for fostering growth and bolstering the competitiveness of any country.

This stemmed from the aftermath of the Covid-19 pandemic. Where both national and international policies strategically pivoted towards promoting investment in R&D&I and energy efficiency to reignite various sector’s work after the pandemic.

Regional, national, and European grants emerged as the primary public tools to drive economic revitalisation and foster growth across continents. Adequate public funding plays a pivotal role in facilitating the execution of large-scale R&D projects, which are critical for addressing the challenges posed by the prevailing political and economic landscape. These grants not only present opportunities for entities to confront these challenges but also serve as catalysts, inspiring innovation, differentiation, and investment to ensure development.

Currently, the continent boasts over 100,000 funding opportunities, encompassing regional, national, and European grants. Recognising the significance of these public funding opportunities, we have assembled a panel of experts from different countries to engage in a comprehensive discussion on the subject.

Among those attending this round table were:

 

 

1. First question: How many calls are there in each of your countries?

 «Just imagine, according to the Spanish national database, in 2022 there were 62,817 calls for proposals,» –AV. 

«At the regional level alone in this 2023, 459 calls have already been opened» –NZ.

«And we are only in May, we still have more than half the year ahead of us»- FAC to which Roberta explains that in Italy right now there are more than 650 published and waiting for the publication of another 97.

 

2. What do the calls for proposals mean for the different companies?

«I think we all agree that these calls for proposals, at all levels and for all types of companies, mean the possibility of making an investment or starting a project that would otherwise be difficult to carry out,» –VO.

«I totally agree. In addition to the fact that it makes it possible to grow the business and expand into new markets, and even to become known as a key player in the different sectors, especially in R&D calls,» –RD

«We cannot forget that it has an incentive effect, and that it also makes it possible to achieve results in a shorter period of time than would be possible without these calls». – AV

 

3. What role does FI Group play in the achievement of these objectives? How can we accompany the different companies in these processes of application to the different calls?

«At the level of the processes of fitting into the calls, application, monitoring and justification; for a company it is a tremendously bureaucratic and complex process. Being able to count on a trusted partner with years of experience is essential,» –AV *while her colleagues nod in agreement.

«With the support of a specialised agent or one that is close to the convening agency is a «privilege» that few actors have in this ecosystem. FI Group has a long experience and great success in all the stages that my colleague explained earlier,» -FAC

«We have teams of experts in both technical and financial areas, without forgetting that we are part of the ecosystem and know all the parties involved, being active and proactive in creating value propositions to improve the systems and funds so that they are more attractive and competitive,» –MO

«We also help to involve one or more stakeholders in relation to the sector or area, and we help and accompany them to improve collaboration. This is precisely due to a large global database of contacts that we have been working on during the 20 years of FI Group’s existence, which allows us to support our clients in an aggregated way, both at multi-country, multi-sector and multi-service levels».-RD

«Absolutely. To a great extent to the experience acquired, the knowledge, the connection networks, we have the capacity to offer this multi-country, multi-sector and multi-service service, but we also continue to do it as the first day, with an individual team per client, with an exclusive and close accompaniment, always making their project ours» –NZ

 

4. What are the most strategic sectors right now?

«I think we all agree that currently the most strategic sectors, not only for FI Group but for the whole of Europe and therefore for our clients, are industry in general and specifically all the electro-intensive ones, as well as everything related to energy, decarbonisation and hydrogen,» –NZ

«Automotive, ICT, Tourism, biotechnology, textile, chemical…». – MO

«From FI Group we continue and will continue to accompany all companies in achieving their objectives and their R&D&i projects, solving their doubts, finding the best fit in consortia or accompanying them in the justifications of the calls they have already achieved. This is and will be the driving force of all the colleagues who are part of this company». –VO

Hit the links below to access their LinkedIn profiles:

• Victor Oro
• Aranzazu de le Villa
• Naim Zeneli
• Marta Orfao
• Roberta Davisod
• Fawzi Abou-Chahine

What is Articifial Intelligence (AI) ?

 

Articifial Intelligence is a technology that belongs to the field of computer science and aims to create systems and algorithms that run in a dynamic environment, based on the collection and processing of data. These computer programs must be able to simulate human intelligence. The main objective of AI is to create intelligent machines that can help solve complex problems in many fields.

There are several categories of Articifial Intelligence (AI), which can be classified according to their capability and level of sophistication. Here are some of the most common categories of Artificial Intelligence :

• Weak Articifial Intelligence : This category of AI can perform specific and limited tasks. It is often used for applications such as speech recognition or image classification. While it is very effective at specific tasks, it can’t replicate the versatility of human intelligence.
• Strong Articifial Intelligence : This category of AI is designed to replicate human intelligence in its entirety. It can think autonomously, solve complex problems, and perform a wide variety of tasks without being explicitly programmed for each one. However, strong AI does not yet exist in its entire form and scientists continue to work on ways to develop it.
• Super Articifial Intelligence : This category is a hypothetical version of AI that would be capable of surpassing human intellectual abilities in all areas. This form of AI does not yet exist, but some AI experts predict that it could be developed in the future.

To get as close as possible to human behaviour, Articifial Intelligence needs a lot of data, as well as a processing and learning capacity. To achieve this, three components are needed:

• Computer systems,
• Data with management systems (they can be collected from databases, files, etc.),
• Algorithms. Once the data has been processed, a machine learning model can be trained using algorithms. This model is then trained to learn to perform a specific task from the data autonomously.

To enable computers to learn from data, Articifial Intelligence relies on Machine Learning models (a method that aims to teach machines to learn from data and improve with experience). There are 3 learning methods used:

• Supervised: which uses defined data to learn to identify patterns and make predictions,
• Unsupervised: which learns from undefined data. It uses techniques such as clustering or dimension reduction to identify patterns and relationships in the data,
• Semi-supervised: uses both defined and undefined data.

It is important to note that AI is a constantly evolving field of research, and that definitions and distinctions between different types of Artificial Intelligence may change.

 

What is Articifial Intelligence used for?

The main goal of AI is to create intelligent machines that can help solve complex problems in many fields, such as medicine, engineering, finance, security, social sciences, gaming, etc. Articifial Intelligence is seen as a key technology for the future and has the potential to transform the way we live and work.

These examples are just a small portion of the application areas for AI, and new uses are regularly discovered as the technology continues to advance. AI can therefore be used to improve efficiency, accuracy, safety, and quality in many different areas.

The example of ChatGPT

One of the most popular supervised AI at the moment is Chat GPT (Chat Generative Pre-trained Transformer). This conversational tool aims to help its users solve problems, answer questions, and provide information in various domains. It therefore generates text from input data (questions, queries, etc.). It is based on Natural Language Processing technology (NLP) and uses unsupervised learning. It has been trained on a very large corpus of text to learn how to generate consistent and relevant answers based on user queries. This is possible because it has access to huge amounts of text, from various sources.

 

FI Group Scientific Department

As a pure player in the R&D ecosystem, FI Group France has created a Scientific Department back in 2019. They lead research in Artificial Intelligence and NLP mostly. This department is composed of seven Researchers (including two Industrial PhD CIFRE). One PhD student is conducting a thesis on data extraction and the construction of algorithms to evolve their grouping by theme and subject. The second PhD student is doing a thesis on unsupervised learning on data flows. She is developing methods capable of clustering data continuously.

The objective of this department is to allow the realization of a regular scientific and technological watch to propose new approaches, and thus to support R&D Financing Consultants in their daily missions. 

These projects are possible thanks to the development and experimentation of techniques in Machine Learning and Automatic Language Processing. These processes facilitate the search for information in a large volume of data. A third research topic concerns the acquisition of new knowledge and the involvement of collaborators, via Gamification processes and serious games.

 

The NASA project

One of the projects supported by FI Group is called NASA. This AI makes it possible to search for scientific articles based on various concepts.

For each query, the articles published between 2019 and 2021 (about 13 million) are used to represent this knowledge in the form of a graph of concepts. It is then possible to display 10 scientific articles published for each concept.

The first prototype of NASA «First STEP» (Scientific Taxonomy Exploration Prototype) was launched in March 2022. The second and the third were respectively put online in September 2022 and February 2023. This «Third STEP» proposes improvements in performance, quality and user experience.

 

Why does digital transformation matter? 

 

Case studies have argued that 50% of employees could be replaced by machines because of the big technological advancements in AI in the era of Digital Transformation, however, we see this as a complement instead as a negative human replacement. 

We see computer software’s and AI as an addition to our activities, working alongside people who are part of the chain of vision. People can improvise, be reactive and think critically, showcasing the advantage of people in unexpected situations. There is a clear link between the collaborative work that can be done by AI and people, rather than a separation.

Knowing how to be an efficient and productive team is always the main aim of any successful partnership. As discussed, both people and AI have different strengths and weaknesses. By delegating tasks based on these strengths and weaknesses the digital transformation and partnership between people and AI can become more efficient and impactful. 

What role does consultancy play in digital transformation? 

It is becoming harder and harder to talk about Consultancy without mentioning digitisation. The digitisation of consultant tasks can be eased by Robotic Process Automation (RPA) software’s. These systems are designed to emulate human’s actions when interacting with digital systems, such as recognising and extracting relevant data.

This automation undoubtedly contributes to the streamlining of the consulting process. It can gather information immediately, transfer documents instantly, create news queries in a few minutes, solve the incidences quickly and in the stages of verifying or making changes to procedures. 

So, the digital transformation allows for flexibility within automation systems, which develops ease and efficiently, making the consultants project writing time shorter. This is also a benefit for the client as it allows for quicker turn around time on R&D reports.

Focusing on the improvement of the value add of our services has always been one of our greatest priorities. Innovation and technology are core pillars of our business, we are always looking for ways to improve our internal procedures through digital advancements that are being made, to provide the best and most efficient results for our clients.

 

The FI Group solution 

• How can FI Group help our clients in this era of digital transformation?

We offer a free audit to highlight and show our clients areas in their R&D process that can be improved by our team and service.

To improve this process, we have created an application that have improved the line of communication between FI Group and clients, and allows 24h access to updated claim information, improving our traditional services through new digital tools.  

Introducing FI Connect. A new digital space that integrates several applications on a single platform. Benefiting our customers by providing greater transparency and showcasing the digital transformation that FI Group is currently undergoing and that will drive productivity for clients and consultants alike. 

 

Welcome to FI Connect

Find out if the service is available in your country to book a demo:

• Brazil
• France
• Portugal
• Spain
• UK

Most countries are facing a common problem in R&D staff recruitment: utilizing native highly qualified research personnel. In other words, retaining local talent is becoming a challenge for universities, private companies, and governments in general. But what is driving local talent to leave their home countries? It is a question that cannot be answered in one way, the contributing factors include salary, the transition between university and company, government support, and quality of jobs.

 

Having identified this problem, FI Group ES and FI Group FR have carried out different studies that show the positive effect that the existence of government support schemes through incentives for R&D&i. On one hand, in Spain, and in collaboration with Manpowergroup, FI Group has promoted the first Report on the impact of R&D&i Incentives and the generation of qualified employment in Spain, and the conclusion was clear: 8 out of 10 Spanish companies would consider increasing the hiring of highly qualified personnel if they had more R&D&i incentives at their disposal.

 

These findings are expected, especially in a country like Spain, which have significant difficulties in finding local Spanish technical talent for R&D&I projects (44% of the companies surveyed). It seems clear that an improvement in the incentive scheme could provide a solution to one of the great challenges in attracting and retaining talent, one key factor was the lack of competitive salaries.

 

On the other hand, FI Group FR carried out an investigation on the hiring of young doctors and recent graduates by private companies in France. It is undeniable that academic environments continually generate talented professionals, but the evidence from the study reveals the «disconnection» between the educational system and the reality of the R&D requirements of private company job markets. Unfortunately, this misalignment means that the job opportunities for young talent from academic fields can find in private companies are unattractive, both at a salary level and at a functional level.

 

The testimony from «young doctors» within the study reveals that the effective use of public funding incentives for R&D&i by their employers had contributed effectively to them being hired, alongside additional factors such as adequate salary and high job profiles.

 

With different local approaches, initiatives promoted by FI Group ES & FR demonstrate that a relevant number of private companies involved in R&D activities consider that the R&D incentives help them to create better paid and high-quality technical jobs. Furthermore, the testimonials coming from the young Doctors in France showcases how the different measures to improve the R&D Funding in France have had a positive impact on the companies they work for. Finally, it’s important that the current governments keep these incentives so that young professionals and students excel in their work and studies, thanks to this promise of a brighter future.

 

FI Group is the global leading consultancy firm in terms of R&D funding; that’s why the firm has the responsibility to continue monitoring these studies, to understand the importance of the R&D funding schemes, and their impact on the improvement of the high-quality employment across the world.

The pandemic has led to a global economic and social crisis, and the European Union and Member States have had to adopt emergency measures. Among these, the creation of an exceptional temporary recovery instrument, the NextGenerationEU, has been agreed.

FI Group is an active player in multiple European countries that will benefits from NextGenerationEU. These countries include:

• Belgium
• France
• Germany
• Italy
• Portugal
• Spain

 

FI Group has already developed a dedicated up and running Next Generation team in each of the countries listed. These teams are qualified to handle any questions or requirements your company might have regarding NextGenerationEU.

This recovery instrument is supported by 750 billion euros, part of which will be provided in the form of repayable loans (360 billion euros) and part of which will be provided in the form of non-repayable transfers (390 billion euros).

 

The EUR 750 billion will be distributed through different tools:

• EUR 672.5 billion through the Resilience and Recovery Mechanism
• EUR 47.5 billion distributed through ReactEU
• A further EUR 10 billion for the Just Transition Fund
• 7.5 billion which is earmarked for Rural Development
• 5 billion to be distributed through Horizon Europe and another 5.6 billion through InvestEU.
• RescEU will have a package of €1.9 billion

 

At FI Group we are supporting the entire value chain (startups, SMEs, large companies, knowledge centres, etc.) in areas such as:

• Agri-food
• Automotive
• Biopharma
• Digital Transformation
• Energy
• Industry
• Public Administrations
• Tourism

If you want to find out more about how your company could benefit, get in contact with our team today!