About Mission Innovation
Mission Innovation (MI) is a global initiative of 22 countries and the European Union to dramatically accelerate global clean energy innovation. As part of the initiative, participating countries have committed to seek to double their governments’ clean energy research and development (R&D) investments over five years, while encouraging greater levels of private sector investment in transformative clean energy technologies. These additional resources will dramatically accelerate the availability of the advanced technologies that will define a future global energy mix that is clean, affordable, and reliable.
Each of the 22 participating countries and the European Union—which represent more than 80 percent of global clean energy R&D budgets—plans to seek to double its governmental and/or state-directed clean energy R&D investment over five years, reaching around a combined USD $30 billion per year in 2021. New investments are focused on transformational clean energy technology innovations that can be scaled to varying economic and energy market conditions that exist in participating countries and in the broader world.
Private Sector and Business Leadership
Entrepreneurs, investors, and businesses drive innovation from the laboratory to the marketplace. The Breakthrough Energy Coalition has made an unprecedented commitment to invest patient capital in early-stage technology development coming out of Mission Innovation countries. These investments, which are guided by a set of Principles, will catalyze broad business participation in the commercialization and deployment of clean energy technologies worldwide. Breakthrough Energy Ventures, the largest of the coalition’s investment vehicles, will invest US$1 billion in companies that need the unique attributes of the fund, including a 20-year horizon, judgment by scientific milestones, flexible investment capabilities, and a significant global network.
Public–private collaborations are another highly effective way to accelerate innovation. Mission Innovation has partnered with the World Economic Forum to facilitate engagement between leading businesses and MI members. The collaboration with the World Economic Forum helps leverage the business expertise of the private sector and the strategic clean energy research investments of the public sector.
High-level leadership is provided by member governments’ Ministers with responsibility for clean energy innovation. The MI Steering Committee, comprised of member government representatives, provides strategic guidance to foster implementation of the Enabling Framework. Core administrative functions are carried out by the MI Secretariat, a small, flexible team supporting the Steering Committee.
Three MI Sub-Groups organized around themes of the Joint Launch Statement carry out specific tasks:
- Information Sharing. Sharing data, priorities, and plans promotes transparency and integrity, facilitates stakeholder engagement, reveals collaboration opportunities, and can inspire and inform private sector investment decisions. This Sub-Group helps each participating country provide easily-accessible information on its respective clean energy R&D efforts and support other elements of Mission Innovation, Including Joint Research and Business Engagement.
- Analysis and Joint Research. Leveraging the combined knowledge, capabilities, and resources of members helps accelerate progress and amplify outcomes. This Sub-Group helps member governments foster a common understanding of clean energy innovation needs across MI countries, which can provide insights for countries’ national plans and identify potential areas for collaboration.
- Business and Investor Engagement. Innovation starts with government support for R&D, but it is businesses, entrepreneurs, and investors that turn innovations into products and companies that change the world. This Sub-Group assists MI countries in identifying opportunities and engaging the private sector by exchanging information to improve understanding of clean energy innovation needs and perspectives, and encouraging investment to expand and enhance the innovation pipeline.