IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v8y2020i1p1146-1161.html
   My bibliography  Save this article

A review of the European Union financial instruments supporting the innovative activity of enterprises in the context of Industry 4.0 in the years 2021-2027

Author

Listed:
  • Joanna Wyrwa

    (University of Zielona Góra, Poland)

Abstract

The new global wave of disruptive innovations, which is based on the evolution of the industrial sector towards Industry 4.0, requires support for investments increasing the indicators of digitization, automation and robotization of enterprises. That is why one of the most important contemporary challenges facing enterprises in the context of Industry 4.0 is finding sources of financing to support innovative activities. Although the literature is abundant in studies on Industry 4.0. development, relatively little attention has been paid to the ways of financing these ventures or to a political environment that would favor the financing of the Fourth Industrial Revolution. The purpose of this article is therefore to identify EU financial instruments promoting business innovation in the context of Industry 4.0 in the years 2021-2027. The article was based on a systematic review of the literature and documents of the European Commission. In line with the adopted methodology, the entire research process consisted of three stages: (1) isolating databases and a set of publications, (2) selecting publications, developing a database, (3) bibliometric analysis, content analysis and testing relevance of results for further research.

Suggested Citation

  • Joanna Wyrwa, 2020. "A review of the European Union financial instruments supporting the innovative activity of enterprises in the context of Industry 4.0 in the years 2021-2027," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 1146-1161, September.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:1146-1161
    DOI: 10.9770/jesi.2020.8.1(77)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/29/Wyrwa_A_review_of_the_European_Union_financial_instruments_supporting_the_innovative_activity_of_enterprises_in_the_context_of_Industry_40_in_the_years_20212027.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/677
    Download Restriction: no
    File URL: https://libkey.io/10.9770/jesi.2020.8.1(77)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Yongxin Liao & Fernando Deschamps & Eduardo de Freitas Rocha Loures & Luiz Felipe Pierin Ramos, 2017. "Past, present and future of Industry 4.0 - a systematic literature review and research agenda proposal," International Journal of Production Research, Taylor & Francis Journals, vol. 55(12), pages 3609-3629, June.
    2. Aleksandr M. Batkovskiy & Aleksandr V. Leonov & Aleksey Yu. Pronin & Elena G. Semenova & Alena V. Fomina & Viktor M. Balashov, 2019. "Sustainable development of Industry 4.0: the case of high-tech products system design," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(4), pages 1823-1838, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Anna Shevyakova & Eleonorа Munsh & Malika Arystan & Yelena Petrenko, 2021. "Competence development for Industry 4.0: Qualification requirements and solutions," Post-Print hal-03583868, HAL.
    2. Oksana Radchenko & Leonid Tulush & Serhii Leontovych, 2023. "Financial instruments for ensuring national security: experience of Ukraine in military conditions," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 5(1), pages 10-25, March.
    3. Anna Shevyakova & Anna Shevyakova & Eleonorа Munsh & Malika Arystan & Yelena Petrenko, 2021. "Competence development for Industry 4.0: Qualification requirements and solutions," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 3(1), pages 124-135, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Joanna Wyrwa & Anetta Barska & Janina Jedrzejczak-Gas & Marianna Sinicakova, 2020. "Industry 4.0 and Social Development in the Aspect of Sustainable Development: Relations in EC Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 1068-1097.
    2. Sony, Michael & Naik, Subhash, 2020. "Industry 4.0 integration with socio-technical systems theory: A systematic review and proposed theoretical model," Technology in Society, Elsevier, vol. 61(C).
    3. Rekettye, Gábor & Rekettye, Gábor, 2019. "The Effects of Digitalization on Customer Experience," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2019), Rovinj, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 12-14 September 2019, pages 414-420, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    4. Christoph March & Ina Schieferdecker, 2021. "Technological Sovereignty as Ability, Not Autarky," CESifo Working Paper Series 9139, CESifo.
    5. Radanliev, Petar & De Roure, Dave & R.C. Nurse, Jason & Nicolescu, Razvan & Huth, Michael & Cannady, Stacy & Mantilla Montalvo, Rafael, 2019. "Cyber Security Framework for the Internet-of-Things in Industry 4.0," MPRA Paper 92565, University Library of Munich, Germany, revised 2019.
    6. Marta Gotz, 2019. "The Industry 4.0 Induced Agility and New Skills in Clusters," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 13(2), pages 72-83.
    7. Timothy M. Young & Ampalavanar Nanthakumar & Hari Nanthakumar, 2021. "On the Use of Copula for Quality Control Based on an AR(1) Model," Mathematics, MDPI, vol. 9(18), pages 1-13, September.
    8. Li Da Xu, 2020. "The contribution of systems science to Industry 4.0," Systems Research and Behavioral Science, Wiley Blackwell, vol. 37(4), pages 618-631, July.
    9. Siqing Shan & Xin Wen & Yigang Wei & Zijin Wang & Yong Chen, 2020. "Intelligent manufacturing in industry 4.0: A case study of Sany heavy industry," Systems Research and Behavioral Science, Wiley Blackwell, vol. 37(4), pages 679-690, July.
    10. Bai, Chunguang & Dallasega, Patrick & Orzes, Guido & Sarkis, Joseph, 2020. "Industry 4.0 technologies assessment: A sustainability perspective," International Journal of Production Economics, Elsevier, vol. 229(C).
    11. Bartoloni, Sara & Calò, Ernesto & Marinelli, Luca & Pascucci, Federica & Dezi, Luca & Carayannis, Elias & Revel, Gian Marco & Gregori, Gian Luca, 2022. "Towards designing society 5.0 solutions: The new Quintuple Helix - Design Thinking approach to technology," Technovation, Elsevier, vol. 113(C).
    12. Peerally, Jahan Ara & Santiago, Fernando & De Fuentes, Claudia & Moghavvemi, Sedigheh, 2022. "Towards a firm-level technological capability framework to endorse and actualize the Fourth Industrial Revolution in developing countries," Research Policy, Elsevier, vol. 51(10).
    13. Emanuele Gabriel Margherita & Alessio Maria Braccini, 2021. "Examining the development of a digital ecosystem in an Industry 4.0 context: a sociotechnical perspective," SN Business & Economics, Springer, vol. 1(7), pages 1-18, July.
    14. Christian Hoyer & Indra Gunawan & Carmen Haule Reaiche, 2020. "The Implementation of Industry 4.0 – A Systematic Literature Review of the Key Factors," Systems Research and Behavioral Science, Wiley Blackwell, vol. 37(4), pages 557-578, July.
    15. Isabella Georgiou & Serena Caucci & Jonathan Clive Morris & Edeltraud Guenther & Peter Krebs, 2023. "Assessing the Potential of Water Reuse Uptake Through a Private–Public Partnership: a Practitioner’s Perspective," Circular Economy and Sustainability,, Springer.
    16. AlMalki, Hameeda A. & Durugbo, Christopher M., 2023. "Evaluating critical institutional factors of Industry 4.0 for education reform," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    17. Marek Fertsch & Adrianna Tobola, 2021. "Intelligent Transport Solutions of Logistics 4.0 in the Context of Changes in Driving Style: A Systematic Literature Review," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 850-859.
    18. Sundarakani, Balan & Ajaykumar, Aneesh & Gunasekaran, Angappa, 2021. "Big data driven supply chain design and applications for blockchain: An action research using case study approach," Omega, Elsevier, vol. 102(C).
    19. Calza, Elisa & Lavopa, Alejandro & Ligia Zagato, 2022. "Advanced digital technologies and industrial resilience during the COVID-19 pandemic: A firm-level perspective," MERIT Working Papers 2022-008, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    20. Guilherme Luz Tortorella & Flavio S. Fogliatto & Michel J. Anzanello & Alejandro Mac Cawley Vergara & Roberto Vassolo & Jose Arturo Garza-Reyes, 2023. "Modeling the impact of industry 4.0 base technologies on the development of organizational learning capabilities," Operations Management Research, Springer, vol. 16(3), pages 1091-1104, September.

    More about this item

    Keywords

    EU financial instruments; innovative activity; financial framework 2021-2027; Industry 4.0; systematic literature review;
    All these keywords.

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:1146-1161. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.