Public and private procurement represent an untapped potential to stimulate the demand for innovation. The public and private sectors could offer new opportunities for suppliers, and provide better, more efficient services. Therefore, innovation procurement would boost transforming research into innovative solutions targeted at societal needs, and support innovative companies to commercialise their ideas.
The European Innovation Procurement Awards aim to recognise public and private buyers across Europe in their efforts to promote innovation procurement and the innovative ways the solutions are procured. It also aims to emphasise the importance of close buyer – supplier cooperation in bringing the innovative solutions to market. These awards complement other EIC initiatives aimed at supporting and fostering innovation procurement in the European Union.