European R&D projects are adding value
An estimated 4,100 million euro has been generated by new products created through research and development (R&D) projects supported by Eureka, the European network for market-oriented R&D, according to a new study. 'Eureka ESE/CSE- statistical report 2001' gathered feedback from some of the 2400 companies contacted which had taken part in Eureka research projects. It found that the new revenue was generated in both national and international markets as a result of collaboration in Eureka projects. In addition, at least one third of the respondents felt that a significant increase in their turnover was attributable to the Eureka collaboration. The study also highlighted some of the most important factors in ensuring that R&D collaborations work. An agreed business plan at the beginning of the R&D phase was one of the most important elements to guarantee success. Another fundamental element is the availability of venture capital for projects. This may be available outside of Europe, but this will have the effect of draining the continent's innovation resources. For this reason, the European Union's Member States as well as MPs at the Eureka inter Parliamentary conference in Madrid in June will be focusing on how to make venture capital more easily accessible.