According to a new report, European Photonics PPP projects funded under Horizon 2020 have shown five-fold leverage on the money invested by the EU.
One hundred photonics projects from 2014 to 2018 were analysed, demonstrating positive growth on the amount initially pledged throughout the lifetime of each consortium and from the follow-up.
Executive Board member Roberta Ramponi, said:
"The 5-times leverage is impressive and shows light technologies are a good value for money.
"It's clear that Europe is in a great position to develop its deep technologies that all depend on photonics, such as next-generation sensors for IoT, 3D vision, High-Performance Computing, Quantum Communication, Industry 4.0, artificial intelligence, smart farming, 5G, personalized healthcare, and Quantum Computing."
Published by Photonics21 and conducted by Tematys, the study Exploration of Photonics Markets analyzed 100 photonics-based consortia funded in part by the EU and private enterprises.
"For every €100 invested in photonics, the total leverage of investment by companies in the projects and the aftermath is €500 from follow-up investments in R&D, production, and commercial effort," said Ramponi.
Over €445 million was committed to the photonics projects and are made up of 1017 participants, 275 of which are SMEs and 281 big companies.