Urenio Watch Watch: Innovation

Creating an Innovative Europe

In its final report, a small group of four high-level experts urges Europe’s leaders to take radical action on research and innovation “before it is too late” and calls for a Pact for Research and Innovation to be signed by political, business and social leaders to show their commitment to creating an Innovative Europe.

The group, chaired by former Prime Minister of Finland Esko Aho, was set up by the European Commission and asked to advise on ways of boosting the EU’s research and innovation performance.

The experts state that current trends are unsustainable in the face of global competition. Therefore a new vision is needed to address a series of productivity and social challenges faced by Europe.

The group argues that there is a large gap between the political rhetoric about the knowledge society and the reality of budgetary and other priorities.

They propose a 4-pronged strategy focusing on the creation of innovation friendly markets, on strengthening R&D resources, on increasing structural mobility as well as fostering a culture which celebrates innovation.