When world leaders gathered in Paris at the end of last month to launch Mission Innovation, they collectively announced a commitment to accelerate clean energy innovation.
According to the leadership’s mission, each of the 20 participating countries, including the United States, will seek to double governmental and/or state-directed clean energy research and development investment over the next five years. New investments will be focused on transformational clean energy technology innovations that can be scalable to varying economic and energy market conditions that exist in participating countries and in the broader world.
As the Tennessee Advanced Energy Business Council (TAEBC) continues to champion the state’s advanced energy sector, efforts like Mission Innovation are anticipated are critical.
Mission Innovation recognizes, as does TAEBC, that entrepreneurs, investors, and businesses drive innovation from the laboratory to the marketplace. So far, 28 investors from 10 countries have joined the Breakthrough Energy Coalition to make an unprecedented commitment to invest capital in early-stage technology development that evolves from Mission Innovation breakthrough countries.
The Breakthrough Energy Coalition, composed of more than 20 leaders in industry, investment, business and philanthropy from throughout the world, will work together based on the tenet that technology holds the key to clean energy. Scientists, engineers, and entrepreneurs can invent and scale the innovative technologies needed to accelerate innovation and the foundation must be built upon large funding commitments for basic applied research.
As TAEBC continues to connect business executives, researchers, economic developers and investors with interests in advanced energy, much as the Breakthrough Energy Coalition is striving to do, our efforts will undoubtedly intersect with and support this new coalition.
It’s encouraging to see that the world recognizes what TAEBC has long known, that collaborating and connecting assets can advance the energy economy not only for our state but for the greater world.
As members, we should watch carefully the steps that Mission Innovation takes over the next year and consider how TAEBC may benefit from the initiative and likewise provide continuing support.