Unleashing Technological Progress and Strengthening Economic Sovereignty in Thuringia
Science-driven collaborations foster economic advancement - Industry-science partnership bolstered by mutual land contributions
Say so long to the stone age, Thuringia is stepping up its game and merging the worlds of business and science with a whopping 200 million euros in financial support between 2021 and 2027, as announced by Economics Minister Colette Boos-John (CDU) in the lively city of Erfurt. The funds come from two sources – the EU and the state treasury. This joint venture between research and practical application lays the groundwork for maintaining technological edge.
Monday saw a specialist congress of the Thuringian Energy Network tackling the buzzword "Transformation Technologies." What's that all about, you ask? It's the latest trends sweeping through the renewable energy sector, focusing on the network and storage offensive. According to everyone's favourite politician, Boos-John, expanding the network holds the key to every energy system's transformation.
The globe's ever-changing political landscape and risks call for some serious attention to vital technologies in our future economy, as far as Thuringia and Germany are concerned. They aim to fortify their own technological know-how to protect valuable economic production. Cooperative ventures between the economy and research institutions are the secret weapon.
But that's not all! The state is extending a helping hand to many sectors undergoing structural changes through the creation of a new small and medium-sized businesses fund and classic state investment subsidies. Unsurprisingly, Boos-John remains adamant about the need for refining Germany's economy overall, stating that businesses require "more breathing room" and less red tape. Her plan involves nixing unnecessary bureaucracy, eliminating duplicates, and expediting planning and approval processes. Simple, really.
Triggering Technological Innovation
Thuringia's roster of events aimed at technological advancement includes the much-anticipated Investor Days Thüringen, scheduled for June 4 & 5, 2025, in Erfurt. This hotspot for international startups gives businesses a chance to showcase their breakthroughs in areas such as energy transition and digitalization, promoting connections for future investments and collaborative ventures.
The eTeach Network Thuringia is another brainchild that supports innovation in education through digitalization within Thuringian universities. By fostering collaborative projects across institutions and disciplines, it enriches digital learning and boosts teachers' abilities.
In the spirit of international collaboration and diversity, Thuringia takes part in programs like the German-Ukrainian Educational Center, providing scholarships and internships to engage in cross-cultural exchanges and collaboration, which boosts technological advancement.
Building a Strong Local Economy
The backing of startups and innovative business models by Thuringia contributes to the development of a resilient local economy, thus promoting economic independence and reducing dependency on external factors.
Discovering new partners through events such as the Americas Competitiveness Exchange helps Thuringian entities build relationships with leading innovation hubs worldwide, drawing in investments and expertise to boost economic sovereignty.
Fostering innovation and entrepreneurship within the realm of local businesses and start-ups strengthens the ecosystem supporting them, creating a self-sustaining economy that's less vulnerable to external pressures.
Though Thuringia's partnership between economy and science may seem surprising to some, its dedication to technological advancement and the improvement of economic sovereignty is paying off in spades.
- Economics Minister Colette Boos-John (CDU) highlighted the importance of refining Germany's employment policy in light of the ever-changing political landscape and risks, stating that businesses require "more breathing room" and less red tape to foster technological innovation and safeguard economic production.
- With the creation of a new small and medium-sized businesses fund and classic state investment subsidies, Boos-John aims to strengthen the local economy in Thuringia, reducing dependency on external factors and promoting economic independence by supporting startups and innovative business models.
