cross-industry

How Space Technology Can Accelerate Net Zero Goals

Space-based technology has become one of the most powerful tools in tackling the global challenge of climate change and decarbonisation. From Earth observation satellites that monitor greenhouse gas emissions to advanced propulsion systems that reduce launch footprints, innovation in space technology is critical to achieving net-zero targets.

For SMEs and scale-ups in Europe and the UK, this sector offers a dual opportunity: driving technological breakthroughs while accessing substantial public and private funding. Yet navigating this landscape requires strategic insight. Each scheme has unique compliance demands, funding structures, and cross-border implications, and CFOs face increasing pressure to align innovation spend with decarbonisation goals while ensuring strong ROI.

This article provides a comprehensive roadmap of the funding available across Europe and the UK, from the European Space Agency (ESA) to Horizon Europe and national schemes. It also highlights the CFO pain points in financing innovation, and explains how FI Group’s “Global Reach. Local Expertise.” approach enables clients to maximise returns while reducing compliance risks.

 

Comparison of Major Funding Programmes

Programme	Budget (2021–2027)	Focus Areas	Typical Funding Size	Relevance to Space Decarbonisation
Horizon Europe	€95.5bn	Climate, Energy, Digital, Space	€500k–€15m	Collaborative R&D, space-enabled sustainability
EIC Accelerator	€10bn (subset of Horizon)	Deep-tech, disruptive innovation	Up to €2.5m grant + €15m equity	Hardware/software scale-ups in climate & space
ESA Clean Space	€180m+ since 2010	Green design, debris mitigation	€50k–multi-million	Clean propulsion, eco-satellites, reusability
LIFE Programme	€5.43bn	Environment & climate action	€1m–€10m	Climate services, space-enabled adaptation
UK Space Agency	£100m+ annual calls	Space science, sustainability	£50k–£15m	National missions (e.g. CO₂ monitoring)
Innovate UK Net Zero	£1bn+ portfolio	Clean energy, mobility, data	£50k–£2m	Satellite data for net-zero mobility, energy

 

What is Space Technology for Decarbonisation?

Space technology for decarbonisation refers to the application of space-based tools and services to reduce carbon emissions, improve resource efficiency, and accelerate the transition to net-zero economies. Examples include:

• Earth Observation: Satellites providing real-time data on emissions, deforestation, and ocean health.
• Green Propulsion: Development of non-toxic, sustainable fuels for satellites and launchers.
• Energy Infrastructure: Space-based solar power and satellite-enabled grid optimisation.
• Supply Chain Monitoring: Using satellite data to verify carbon reduction claims in global trade.
• Climate Modelling: Advanced sensors that feed into predictive models for policymakers and businesses.

This convergence of space, sustainability, and digital technology creates new commercial opportunities but requires significant upfront investment, hence the growing importance of grant funding and R&D tax incentives.

 

Why CFOs Must Pay Attention

CFOs in innovation-driven SMEs face three recurring challenges:

1. Balancing long-term innovation with short-term cash flow
   Developing decarbonisation tech often requires large upfront spend on prototypes, testing, and compliance, with delayed revenue realisation.
2. Navigating fragmented funding ecosystems
   EU, ESA, Innovate UK, and private funds all have different eligibility rules, reporting standards, and audit risks.
3. Avoiding opportunity costs
   Missing out on grants or misaligning R&D incentives across borders can cost millions, not just in lost funding, but in lost competitive advantage.

In a climate where venture capital funding has declined year on year since 2021, grants and tax incentives are becoming the most reliable growth levers for high-tech firms.

 

Funding Opportunities in Europe

European Space Agency (ESA)

The ESA runs multiple programmes aligned with sustainability and space innovation:

• ESA’s ARTES (Advanced Research in Telecommunications Systems) – supports SMEs developing satellite-enabled services for climate monitoring, smart cities, and mobility.
• ESA Clean Space Initiative – focuses on eco-design, debris mitigation, and clean propulsion.
• ESA Technology Development Element (TDE) – funds feasibility studies and prototypes with applications in decarbonisation.

ESA grants often require international collaboration, making FI Group’s network across 13 countries a decisive advantage in forming and managing consortia.

Horizon Europe

With a €95.5 billion budget (2021–2027), Horizon Europe is the EU’s largest funding programme for research and innovation. For space decarbonisation, key clusters include:

• Climate, Energy & Mobility – funding projects in clean aviation, sustainable fuels, and renewable integration.
• Digital, Industry & Space – supporting satellite manufacturing, AI-driven Earth observation, and next-gen propulsion.
• Missions on Climate-Neutral Cities and Oceans – creating opportunities for space-enabled monitoring solutions.

The European Innovation Council (EIC) Accelerator within Horizon Europe also offers up to €2.5 million in grants plus blended finance, particularly relevant for scale-ups in green and space technologies.

Other EU Initiatives

• LIFE Programme (€5.43bn): Focused exclusively on environment and climate action.
• Clean Hydrogen Joint Undertaking (Clean H2 JU): €2bn for hydrogen innovation, often linked with space propulsion and storage systems.
• Digital Europe Programme (€7.59bn): Funding for AI and cybersecurity in satellite data processing.

 

Funding Opportunities in the UK

Innovate UK

The UK’s national innovation agency Innovate UK regularly opens competitions relevant to space and decarbonisation, such as:

• National Space Innovation Programme (NSIP) – supporting space data and climate applications.
• Net Zero Mobility and Aviation Calls – investing in clean propulsion and aircraft electrification.
• Smart Sustainable Plastic Packaging – relevant for supply chains where satellite monitoring validates sustainability claims.

UK Space Agency

Through targeted calls, the UK Space Agency co-funds ESA projects and runs initiatives on space debris mitigation and low-carbon satellite technologies.

 

Combined Approach: R&D Tax Relief + Grants

For UK SMEs, R&D tax relief remains a crucial complementary mechanism. Costs not covered by grants can often be claimed under the merged R&D Expenditure Credit (RDEC) scheme, offering a ~20% taxable credit on qualifying costs. CFOs must carefully structure projects to avoid “double-dipping”, where the same cost is claimed twice under different schemes, a compliance risk that FI Group’s integrated advisory model helps mitigate.

Private and Venture Funding Landscape

While venture capital remains the largest pool of growth finance, the market has cooled significantly since 2021. UK deal volumes have fallen, though average deal sizes remain larger than a decade ago, with deep-tech and life sciences attracting outsized interest.

For space decarbonisation, this means CFOs should see public funding as a hedge against VC volatility. Grants de-risk early-stage projects, making companies more attractive to private investors down the line.

Roadmap for SMEs and Scale-Ups

For SMEs considering entry into the space decarbonisation ecosystem, a structured roadmap is critical:

1. Map Your Innovation Pipeline
   Identify which projects align with decarbonisation priorities (e.g. propulsion, data analytics, monitoring).
2. Select the Right Funding Mix
   Combine grants, R&D tax relief, and where possible, blended finance instruments.
3. Form International Consortia
   Particularly for Horizon Europe and ESA projects, partnerships improve eligibility and competitiveness.
4. Align Reporting and Compliance
   Different jurisdictions have different audit risks; early planning avoids costly delays.
5. Leverage Expert Support
   Engage advisors who understand both the technical innovation and the financial compliance.

 

The FI Group Advantage

At FI Group, we turn complexity into clarity for innovation leaders. With over 1,400 experts across 20 countries, we support more than 15,000 clients annually, securing over €1.7bn in funding.

Our advisory goes beyond funding applications. We help CFOs and executives:

• Mitigate compliance risk by ensuring claims are audit-ready across jurisdictions.
• Optimise funding strategy through a single-point-of-contact model.
• Accelerate international expansion, bridging HQ strategy with local execution.

As Dr. Fawzi Abou-Chahine, Funding Director at FI Group UK, explains:

“We support clients to navigate the most competitive EU and UK schemes. Our role is not just to write applications, but to align funding with strategic goals, whether that’s scaling internationally, strengthening IP portfolios, or accelerating net-zero innovation.”

International Landscape: Global Reach, Local Expertise

Innovation does not stop at borders. Space and decarbonisation projects often require cross-continental collaboration, from launch facilities in South America to data analytics hubs in Europe and Singapore.

FI Group’s model ensures that:

• Your HQ sees the full picture, while your teams feel local support.
• Global operations don’t need global headaches.
• We deliver seamless international compliance, reducing risk in multi-country claims.

This capability is critical during M&A, supply chain shifts, and expansions where funding incentives vary widely across jurisdictions.

 

FAQs

What is the main funding source for space decarbonisation projects in Europe?

The European Space Agency and Horizon Europe are the leading sources, with additional opportunities under LIFE, Clean Hydrogen JU, and Digital Europe.

Can SMEs combine R&D tax relief with grant funding?

Yes, but careful structuring is needed to avoid claiming the same cost twice (“double-dipping”). FI Group helps ensure compliance with HMRC and EU rules.

How competitive are Horizon Europe calls?

Horizon Europe success rates average 10–15%, but consortium-based applications led by SMEs with strong partners see higher success.

What are CFO pain points in managing international incentives?

CFOs struggle with fragmented regulations, audit risk, and inconsistent reporting across jurisdictions. Integrated advisory support mitigates these challenges.

Why work with FI Group?

Because we combine global scale with local expertise, securing over €1.7bn in funding annually and offering tailored support for space and decarbonisation innovators.

 

IT innovation isn’t limited to the digital sphere. Increasingly, industrial applications of technology are pushing the boundaries of what’s considered R&D. 

When businesses use technology to solve operational, logistical, or energy challenges in new ways, they’re often venturing into innovative territory.  

Some examples might include: 

 

• AI-powered logistics route optimisation based on real-time conditions
• Development of smart warehouse automation tools
• Creation of new communication devices for confined or hazardous environments
• Software platforms managing energy distribution via smart grids
• Predictive systems for inventory management based on dynamic variables
• Advanced tools for risk modelling and pricing analysis
• User behaviour analytics that predict purchase likelihood or engagement patterns

 

In these cases, the technology isn’t just supporting the business, it’s reshaping how the business operates, opening the door to R&D qualification. 

 

What Exactly Counts as R&D? 

 

At its core, R&D is about creating value through new knowledge or novel applications of existing knowledge.  

Projects generally fall into one of three key categories: 

 

• Scientific Research: Activities that generate new knowledge, whether through fundamental or applied exploration.
• Technological Development: Projects that translate knowledge into concrete solutions, products, or prototypes.
• Technological Innovation: Significant improvements or entirely new methods, processes, or systems, often involving novel technologies or methodologies.

 

While these categories may sound academic, the reality is that many IT and digital transformation projects can fall within their scope. 

 

Where Tech Meets R&D: Common Eligible IT Initiatives 

 

Digital innovation is a fast-moving field, and many solutions that tackle complex challenges could meet the criteria for R&D recognition.  

For instance: 

 

• AI systems used for fraud detection or risk assessment
• Implementation of advanced frameworks to improve software performance
• Blockchain technologies ensuring data transparency and traceability
• Immersive tech applications in industrial or training environments
• Predictive analytics or machine learning models based on real-time data
• Automated asset management and intelligent resource planning
• Cloud-based cybersecurity solutions beyond traditional perimeter defences
• Algorithm development and mathematical modelling for smart engines
• Scalable cloud platforms tailored to new services or users
• Innovative approaches to integrated delivery management

 

These aren’t just examples of digital progress, they’re potential R&D projects with real business impact and tangible fiscal benefits. 

 

Hispanic America as a case study: Tax Incentives in Peru  

 

In a world where innovation drives competitive advantage, research and development (R&D) is no longer a luxury, it’s a strategic position. 

Around the globe, companies are investing in knowledge-based growth to stay ahead of the curve. In Peru, this global trend is taking on a particularly promising form: tax incentives designed to encourage and reward innovation. 

But how do you know if your project qualifies?  

Could your next technology initiative not only advance your operations but also reduce your tax burden? 

 

The R&D Advantage: A Strategic Incentive 

 

The power of innovation to shape sustainable economic development must be recognised, and in the case of Peru, for example, a specific tax incentive has been introduced: 

• Law No. 30309: companies that invest in scientific research, technological development and technological innovation projects can deduct the expenses incurred on their tax return.  

This innovative regulation offers additional income tax deductions to companies that invest in scientific research, technological development or technological innovation. 

It’s not just about rewarding great science or complex engineering, it’s about promoting a culture of innovation in which experimentation, development and improvement are actively supported. 

 

Do you have questions about whether your project can qualify for the R&D criteria? 

 

Here are some questions we suggest you ask yourself: 

– Are you solving a technical problem with no clear solution at the outset? 

– Does it involve a significant advance in either what is being done or how it is being done? 

– Are you experimenting with untested ideas or developing new methodologies? 

– Is there a measurable element of uncertainty or technical risk? 

– Will you generate knowledge that did not previously exist in your company, sector or region? 

– Are you applying existing technologies in innovative ways? 

 

If you can confidently answer ‘yes’ to several of these questions, there’s a good chance your project will qualify, and it may be time to explore your eligibility for R&D tax benefits or other innovation-centred incentives. 

 

With a global vision and clients around the world, FI Group specialises in the technical and legal criteria of R&D classification, monitoring the entire process. Our teams of experts combine technical knowledge and strategic vision to ensure that your projects meet the necessary standards and have the best chance of success. 

 

Remember: your innovation today can generate tax benefits tomorrow. 

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. 

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.

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.

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 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.