Given the growing trend toward automation and digitization, as well as the increasing interest in artificial intelligence, a number of professions may disappear in the coming years. Repetitive tasks, in particular, are at risk of being partially or completely replaced by artificial intelligence and digital tools within a few years. It is therefore absolutely essential to prepare the technical and technological infrastructure and to prepare people for the digital transformation of society as a whole. The trend toward digitalization is generally demonstrated and supported by numerous studies, research projects, and reports, including those from the European Union.
When financing digital transformation, it is important to be familiar with strategies and plans at both the national and EU levels, as these determine the focus, content, and scope of the tools (both financial and non-financial). Grants and subsidies are one of the main tools used by the European Union—and others—to achieve development policy goals. The same applies to the Recovery Plan, which consists of two levels—reforms (namely, the aforementioned strategies, plans, and legislative frameworks) and investments (grants and subsidies).
However, the digital transformation is also associated with a number of shortcomings and threats that arise in connection with it. The response to these threats is to ensure cybersecurity and the protection of data and information. The European Union recognizes the importance of both issues (cybersecurity and digital transformation) and is focusing on them. One of the European Commission’s main priorities is “A Europe Ready for the Digital Age,” which includes supporting digital transformation through investments in businesses, research, and innovation; reforming data protection; empowering people with the skills needed for the new generation of technologies; and implementing appropriate regulations. Therefore, we can expect that the European Union will support the topics of digitization and cybersecurity not only through new legislation (reforms), but also through extensive opportunities for funding projects in the areas of digitalization and security (through investments).
However, the European Union is not the only entity for which digital transformation and security are—and will remain—a priority. At the national (Slovak) level as well, we can expect new investments in this area—for example, from the aforementioned Recovery Plan. However, digital transformation and security are not financially accessible to many Slovak small and medium-sized enterprises, and these entrepreneurs do not attach sufficient importance to them. According to a survey by the Slovak Business Agency in cooperation with the National Security Authority, SMEs would most welcome measures in the form of grants, vouchers for purchasing technology, and funding for training and educational courses to improve cybersecurity. This need will soon become a reality.
What funding opportunities will be available for projects in the areas of digital transformation and cybersecurity?
Under the Digital Europe program, we can expect the following in this programming period:
Some interesting calls for proposals in the field of cybersecurity—such as those supporting information and cybersecurity in healthcare facilities—have already been launched. We expect more in the coming months. Specifically, in the area of “European Cyber-Shield” and in the area of supporting the implementation of relevant EU legislation. In total, we can expect 7 calls for proposals in these areas in 2022, offering the opportunity to draw on up to 184 million euros for your projects in these fields.
Under the Recovery Plan, specifically the “Digital Slovakia” component, a total of up to 615 million for projects in the areas of digital transformation, the development of the digital economy, the improvement of digital skills, and more.
By the end of 2022, we expect calls for proposals to be announced, through which it will be possible to apply for Innovation Vouchers and Digital Vouchers. Many entrepreneurs are already familiar with these, as similar vouchers have become attractive, popular, and relatively common tools in recent years for financing company development or audits. The Office of the Government of the Slovak Republic will issue the calls for applications for these vouchers.
Financing digital transformation and ensuring the protection of data, information, and records should therefore not be difficult. Prepare for the future with us. This is the perfect opportunity.
We provide grant and subsidy consulting in collaboration with our close partners.
What services do we offer for securing grants and subsidies?
Current funding opportunities for business digitization: