Community Research and Development Information Service - CORDIS


Towards an innovative Europe, A paper by the French, German and UK Governments

Funded under: FP6


Improving innovation performance is central to the Lisbon goal for the EU to become the most competitive and dynamic knowledge-based economy in the world by the end of the decade.
Productivity growth - key to the success of the Lisbon strategy - relies on a continual stream of inventions and innovation in new technologies and improved working practices. Through innovation, businesses can introduce new products to their consumers and deliver higher quality and better value outputs; in doing so, they secure valuable competitive advantage in an increasingly global economy. Innovation can also help to address the social and environmental challenges of the future, in health, welfare and sustainable development.
Additional effort need not automatically imply additional spending, however. Consideration must also be given to improving the effectiveness of current spending and removing barriers to the effective exploitation of research. Effective innovation systems depend on a range of factors. France, Germany and the UK support Europe�s aspiration to raise R&D investment towards 3 per cent of GDP. Though crucial, increasing R&D expenditure is by itself insufficient. The social and economic potential of new discoveries will only be realised if they can be effectively translated into innovation - new products, processes and services - and successfully diffused throughout the economy.
This requires framework conditions that provide firms with both the incentives to invest in R&D and the ability to reap the rewards of their investment. These conditions include a stable macroeconomic environment, open and competitive product, labour and capital markets, sensitively designed regulation, a favourable tax climate, and a responsive intellectual property regime. A skilled workforce is also required, along with strong links connecting the research base with developments in market demand as well as social and environmental needs.

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Record Number: 4534 / Last updated on: 2004-04-28
Category: POLI
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