COST: Growing business ideas through European networks

In a globalised competitive world, being a business leader and implementing innovative processes is not an easy task. Very often great ideas exist, but the link and means to create deliverable fund-generating outputs are missing. Business leaders often do not know which door to knock on to facilitate these processes. How can small SMES and industry in Malta harness these opportunities?

COST (European Cooperation in Science and Technology) (www.cost.eu) is one such tool which may provide easy access for the local Maltese industry and businesses to widen their horizons. COST is the longest-running European framework, supporting networking and knowledge sharing amongst science, business and technology communities across Europe. It provides a unique approach that enables the sharing of concepts and innovative developments across 35 European countries and facilitates the establishment of the links between societal needs, innovation, industry and technology.

COST is based on projects called COST actions. COST supports a variety of research networks from genetics to IT, space and environmental issues, but there are also several COST actions which seek to involve business communities in innovative processes. Some examples: COST CA16121 looks at the sociotechnical aspects of the collaborative economy by developing a European network of actors (including scholars, businesses and policy makers) to focus on the development of collaborative economy models and platforms. It also assesses the social and technological implications of the collaborative economy through a practicefocused approach, while comparing and reflecting upon local, regional, national and international initiatives.

COST IC1203 explores geospatial information crowdsourcing, an important source for identifying those ever changing client and market demands.

COST IS0802 seeks to understand the risks and opportunities linked to the transformation of global environmental governance by focussing on the causes and consequences of the transformation of global environmental governance as well as on its effectiveness, legitimacy and robustness.

COST IS1104 aims to develop better models for understanding the new complex geography of economic systems and an evolving trade network.

These are just some of the many opportunities COST has for the local business and SMEs. COST indeed provides an easy to access and a unique means for local Maltese businesses to develop ideas and new initiatives across all spheres of business and technology, through pan-European networking. It closes the gap between science, policy makers and society throughout Europe and beyond.

Participating in COST actions is a very simple process. COST in Malta is managed by the Malta Council for Science and Technology and requests for participation involve a simple and fast application process that takes just a couple of weeks. All applications are handled at a local level. The big advantage for COST actions is that each country can nominate up to two persons on each action, irrespective of size, and these nominations can be processed even after the action has started.

COST provides excellent networking opportunities across Europe for local businesses and opens several doors to the wider EU economy. It also promotes interdisciplinary approaches, knowledge sharing, talent development and assists industrial communities in finding their own ways to tackle important soci- etal challenges. It can lead to huge opportunities and the opening of new markets through joint collaborations and opportunities by showcasing our local potential and skills. As one researcher stated “The best thing about being part of a COST Action? We are all colleagues here, learning from one another”. COST creates spaces where people are empowered and ideas can grow without limits. It connects people in high-quality networks that deliver value for money and opportunities to excel. This is a flexible and open approach focused on cooperation, which creates a unique dynamic indispensable for any business and enterprise.

Participating in COST requires a very simple application process with minimal administration. COST in Malta is managed by the Malta Council for Science and Technology. For more information see http://www.mcst.gov.mt/Horizon2020/COST.aspx or email the National Contact Point, Prof Janet Mifsud janet.mifsud@um.edu.mt or Deputy National Contact Point Dr Melchior Cini Melchior.cini@gov.mt or cost.mcst@gov.mt