Poland Innovation

Poland Innovation

October 23, 2020 0 By BusinessHubPoland

Poland Innovation Program is a collaborative initiative between the U. S.State Department along with theMinistry of Science along with Higher Education of the Republic ofPoland. The program will fortify Poland’s innovation ecosystem throughout the nexus of government, company, and academia and might Benefit both nations by promoting innovation through the U. -Polish joint ventures and joint research and growth endeavors. PLUS-IP was established through a framework signed by State Secretary John Kerryand then Foreign Minister Radoslaw Sikorski in June 2014. PLUS-IP will hold its inaugural meeting along with a signing of a statement of intent Monday, Nov 17, 2014, in LosAngeles, California. Poland is the US’s largest commercial partner in Central Europe, along with the United Statesis one of the main sources of foreign investment in Poland. 

Over the previous ten years, our bilateral trade quadrupled, American firms invested over $20 billion in Poland, and over 180, 000 Poles gathered employment straight fromU. Companies. Poland is the 6th biggest economy in theEuropean Union and has witnessed monetary expansion every year since the collapse of communism in 1989. Poland experienced GDPgrowth of over 20 percent from 2008 to 2013. Its highly educated workforce, structural reforms, infrastructure development, and enhanced competitiveness have contributed to this strong growth. PLUS-IP will advance innovation and research and growth cooperation between the UnitedStates and Poland. Both nations will share best practices and skills to bring powerful innovation models such as the Research Triangle along with Silicon Valley toPoland. 

This endeavor provides opportunities for joint research along with joint ventures aimed at promoting access to capital, more rapid along with effective commercialization of technology, strengthening along with expanding regional innovation clusters, improving cooperation in key economic sectors, and fostering the innovation ecosystem. Defense, energy, health, and science and technology are areas of particular emphasis. To foster innovation opportunities throughPLUS-IP, the Government of Poland plans to establish several10 year venture capital funds to finance identified projects. The US Government will jointly conceptualize together with the Poles the best means to provide financing for these initiatives. Poland’s National Center research along with Development plans to provide 50-55 percent of each fund’s initial capital, valuing each fund from$100 to $250 million. 

To manage PLUS-IP, the two countries have established a U. -Poland Innovation Council which is chaired by the U. S.State Department along with the Ministry Of Science along with Higher Education of the Republic ofPoland. Council members also include U. S.Department of Defense, Overseas PrivateInvestment Corporation, Activity for Innovation andEconomic Growth, American Association for theAdvancement of Science, American Chamber of Commercein Poland, American Council for International Education, National Defense Industrial Association, U. -Polish Trade Council. Additional Polish Council includes the Ministry of Foreign Affairs, Ministry ofEconomy, Ministry of National Defense, Association of TOP500 Innovators, Employers of Poland, National Center forResearch along with Development, Exotic Academy of Sciences, PolishAgency for Business Development, Exotic Chamber ofCommerce, Exotic Confederation Lewiatan, and ScientificPolicy Committee.