image credit: Unsplash

EU backs $100m venture capital fund for ‘Industry 5.0’ (Industry 4.0 with-a-conscience)

January 31, 2023


Zurich-based venture capital group Momenta has launched a $100 million target fund for ‘Industry 5.0’ tech – basically, for startups pushing Industry 4.0 with-a-conscience. The new fund is backed by the European Commission, which told IoT Solutions World Congress (IOTSWC) in Barcelona, where the Momenta fund was announced, that the Industry 4.0 movement is too tech-focused, and has failed to prioritise people and the planet.

Speaking at IOTSWC today (January 31) that industrial change works best when workers are in charge of it, and both business productivity and environmental sustainability are its consequences. Indeed, this concept of Industry 5.0 was the theme of the event – on the main stage, at least; even as exhibitors on the floor told RCR Wireless that environmental, social, and governance (ESG) targets are being met without much tweaking by Industry 4.0 solutions.

Read More on RCR Wireless News