The EU new growth strategy includes a major effort to stimulate innovation. The focus is on the conception, development, production and access to new products, industrial processes and services. The aim is not only to create more jobs, but also to build a greener society and improve our quality of life, while maintaining EU competitiveness in the global market.
The Innovation Union is one of the seven flagship initiatives of the Europe 2020 Strategy for a smart, sustainable and inclusive economy.
The Innovation Union plan contains over 30 action points with the aim to do three things:
- make Europe into a world-class science performer;
- remove obstacles to innovation – like expensive patenting, market fragmentation, slow standard-setting and skills shortages – which currently prevent ideas getting quickly to market; and
- revolutionize the way public and private sectors work together, notably through Innovation Partnerships between the European institutions, national and regional authorities and business