AU and EU host successful Virtual Workshop on Access to Finance for Innovation

The African Union (AU) and the European Union (EU) hosted a Virtual Workshop on Access to Finance, marking the second in a series of Workshops taking place in 2025 and 2026, aimed at implementing the AU-EU Innovation Agenda short-term actions. The Agenda is a joint policy initiative that will govern the next decade of cooperation in Science, Technology and Innovation between Africa and Europe, aiming to foster the translation of research and innovation into tangible products, services, businesses, and jobs. 

The Workshop gathered 325 participants and aimed to enhance the engagement of the community of R&I stakeholders and organisations that contribute to the implementation of the AU-EU Innovation Agenda, as well as to provide actionable information on funding opportunities for innovations from both Europe and Africa, under the “AU-EU Deep Tech Transformation Training Scheme” module.The opening session featured addresses by Dr Tidiane Ouattara for the African Union Commission, and Ms Nienke Buisman for the European Commission, who highlighted the value of the long-standing cooperation between the two continents in R&I, which is further strengthened by the joint AU-EU Innovation Agenda. 

The Workshop also offered testimonials from two entrepreneurs, winners of two Open Innovation Challenges at the AU-EU Innovation Festival in Cape Town, who shared their experience and involvement in the AU-EU Innovation Agenda initiatives, the concrete opportunities they gained so far from their participation, and their thoughts on what concrete actions could be taken to further contribute to the implementation of the AU-EU Innovation Agenda. 

The "Deep Tech Training Transformation Scheme" session focused on access to finance, a key enabler of innovation, and provided participants with information on both private and public funding opportunities available to foster deeper African and European innovation collaboration at different stages. Presentations showcased tools and financial skills to navigate the funding landscape in order to contribute to the enhancement of the African-European innovation ecosystem. Best practices, funding, and training opportunities were presented by private institutions and regional organisations, including a critical reflection on the main financial challenges and barriers currently affecting entrepreneurship and access to finance in the African landscape. Member States’ perspectives were demonstrated from both the African side  and the European side ,  offering insights into the state-of-the-art implementation of national funding mechanisms, their concrete contributions to the implementation of the AU-EU Innovation Agenda, and the positive spill-over effects at the local level. 

The “Virtual Coffee”, the matchmaking and networking session, rolled out in three parallel break-out rooms, with a focus on limited funding opportunities and lack of venture capital, technology transfer, and access to finance for AI start-ups. A total of 75 participants attended the break-out sessions and engaged in a lively exchange.  

Overall, the Virtual Workshop was a success in fostering collaboration and knowledge-sharing among stakeholders, contributing to capacity enhancement with tangible and readily seizeable opportunities to drive sustainable and youth-led innovation, in support of the implementation of the AU-EU Innovation Agenda. 

• Full report of the Virtual Workshop
• Recordings for the Deep Tech Training Session

The next Virtual Workshop is planned for November 2024 and will be focused on Global Health Innovations. Further details and the registration form will be available on the AU-EU Innovation Interface.