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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

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  • 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)
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    References listed on IDEAS

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    1. 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.
    2. 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.
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    Cited by:

    1. 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.
    2. 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.
    3. Anna Shevyakova & Eleonorа Munsh & Malika Arystan & Yelena Petrenko, 2021. "Competence development for Industry 4.0: Qualification requirements and solutions," Post-Print hal-03583868, HAL.

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    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

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