The path to Industry 4.0 has made the industry more resilient than ever. By way of illustration, the Covid-19 crisis demonstrated the survival capabilities of more digitalised companies. Digitalisation is also a driver of environmental sustainability as more digitalised processes offer better production monitoring possibilities for factories which in turn reduces a lot of the waste generated by these processes.
When supporting companies working with Industry 4.0 disruptive technologies, our experience tells us that there will be challenges related to commercialisation. Legal and industrial barriers to biosafety, food safety, and ethics, or if the technology breaks specific industry or cultural laws, are real challenges to be surpassed.
Without support from EU|BICs the market will not provide sufficient offers to Industry 4.0 disruptive technologies. Startups working with potentially disruptive technologies are too early, and too risky to be interesting for investors.
Ideas might pivot or change, but pursuing an entrepreneurial journey under an incubation programme requires commitment and dedicated efforts. It requires competence and will to adapt to new methods, and courage to surpass all the difficulties that are thrown into our new venture.
The European way to a digitalised economy and society is about solidarity, prosperity, and sustainability, anchored in the empowerment of its citizens and businesses, ensuring the security and resilience of its digital ecosystem and supply chains.
Industry 4.0 brings the next gear change in manufacturing through the digital transformation of value chains interconnecting the physical, digital, and virtual worlds.
n this first report, we will outline the EU|BIC, EU and SME approach to digital transformation and Industry 4.0: the “why now” question; and the characteristics that participants must understand to partake and thrive in the Industry 4.0 ecosystem.