EWRC 2024: Reversing Brain Drain via EU Innovation
On October 10, 2024, the European Week of Regions welcomed a joint session with DG REGIO, held at the Albert Borschette Conference Centre in Brussels. The event, titled "Reversing Brain Drain: Empowering Place-Based Innovation through EU Financial Instruments," explored innovative approaches to retaining talent within Europe’s diverse regions.
Moderated by Marc Pattinson, Innovation and Research Policy Expert for the Interreg Europe programme, the session focused on strategies for regional talent retention. With expertise in regional development, innovation, and SME digitalisation, Pattinson facilitated a dynamic discussion among leading voices on the challenges and opportunities in reversing brain drain across Europe.
The Importance of Retaining Talent – Michiel Scheffer
Michiel Scheffer, President of the Board of the European Innovation Council, delivered a presentation on the significance of retaining talent within the EU’s diverse regions. He outlined the role of local ecosystems in building supportive environments that encourage young professionals and researchers to pursue careers within their home regions. Scheffer stressed that talent retention is not only a matter of providing opportunities but of nurturing a culture where innovative minds feel they have the resources, support, and networks necessary to thrive locally. By promoting targeted development pathways, Scheffer argued, regions can become magnets for skilled professionals, thus reversing the trend of brain drain and sustaining regional growth.
SKALE2CT Project – Yesenia Otamendi
Yesenia Otamendi, Head of International Affairs and Funding at Fomento San Sebastián, presented the SKALE2CT Project, which seeks to build robust local business acceleration services to support the growth of small and medium-sized enterprises (SMEs). SKALE2CT aims to boost regions’ capacity to retain talent and enhance local innovation by offering comprehensive support, including leadership guidance, prototyping infrastructures, and strategic co-living spaces for talent. Otamendi showcased how the project empowers regional ecosystems to foster sustainable development, positioning San Sebastián as a leader in innovation and business growth.
Case Study from Greece – Katerina Pramatari
Katerina Pramatari, founding partner at Uni.Fund, presented a case study from Greece that exemplifies the impact of financial instruments in developing a resilient entrepreneurial ecosystem. Uni.Fund’s mission is to unleash the hidden potential within universities, R&D, and tech spaces by fostering collaboration and providing resources for team development and go-to-market strategies. Pramatari shared Uni.Fund’s success stories, which include creating hundreds of jobs and transforming academic research into commercialized, market-ready innovations. The initiative not only attracts new talent but retains it by offering substantial opportunities within Greece, thereby contributing to the local knowledge economy and reducing reliance on external ecosystems.
Case Study from Bulgaria – Valeri Petrov
Valeri Petrov, Partner at Eleven Ventures, shared Bulgaria’s approach to stimulating innovation and entrepreneurship through strategic financial support and nurturing a start-up-friendly environment. Eleven Ventures has been instrumental in driving Bulgaria’s tech ecosystem, focusing on scaling up high-potential startups and providing them with access to networks and financial resources. Petrov emphasized the importance of tailored support in creating sustainable business models and highlighted how the project’s approach to talent development has led to the growth of a local tech workforce capable of competing globally. By positioning itself as a startup and scale-up hub, Bulgaria aims to become an attractive destination for talent from across Europe.
Success and Forward-Looking Discussions
The event concluded with a dynamic Q&A session where attendees exchanged insights on the role of EU financial instruments in fostering place-based innovation. The success of this event underscored the value of collaborative, cross-regional initiatives aimed at reversing brain drain, reinforcing that innovation and strategic support can create thriving, resilient communities across Europe.
