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Photonics Digital Innovation Hub Lands $22.5M Investment

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PhotonHub Europe, a newly established pan-European photonics digital innovation hub, has been awarded a €19 million investment from the European Union’s Horizon 2020 program. The hub will help small- and medium-size enterprises (SMEs) become competitive through accelerated deployment of photonic technologies with the help of a network of experienced institutions, regional photonics hubs, and existing business networks.

SMEs will be able to leverage the expertise and experience of 53 top competence centers located throughout Europe to help accelerate their product to market through training, testing, and innovation support with the assistance of the 40 demo centers and 10 experience centers. Assistance with sources of funding is also available through the hub.

In its first four years of operation, PhotonHub expects to achieve one-to-one expert discussions on photonics innovation ideas with at least 8000 companies —90% of which will be SMEs —with nearly 6000 training engagements, 280 companies benefiting from investor matchmaking, and more than 250 companies receiving cross-border innovation support for technology readiness level (TRL) acceleration.

PhotonHub will also measure its impact on the wider ecosystem of local photonics hubs in Europe, particularly the leverage factor on regional and national funding for photonics innovation, which is expected to add at least another €75 million on top of the €19 million from the Horizon 2020 program. PhotonHub will also implement a business plan for sustainability long past the initial investment.

Published: October 2020
BusinessinvestmentfundingEuropeinnovationPhotonHubdigital innovation hubPhotonics Digital Innovation HubeconomicseconomyEuropean UnionHorizon 2020collaborationnetworklight speed

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