Investing in R&D and Innovation - Reconciling Corporate Strategies with Financial Markets
18 May 2006 - 19 May 2006
Austria
This report outlined the need for greater fiscal and policy support for both private and public research active organisations across the EU, noting the target of 3% R&D spend by 2010 as an indicator of progress rather than a means in itself.
It also considered greater financial mobility as a key constituent in the development of a more innovative Europe, and it is within this context that this conference is organised.
Background
In 2003, European research and development represented 1.93% of EU gross domestic product (GDP), compared with 2.59% in the US and 3.15% in Japan, while a recent report investigating the current state of research and development (R&D) in the European Union has painted a picture of the EU consistently losing out to more dynamic and innovative international markets.
Investment by EU firms in US and Asian markets continues to grow, while investment by foreign companies within the EU in the areas of R&D continues to slow. The discrepancy between EU investment in the US and vice versa amounts to around 2 billion Euro (2002), which represents and increase of 1.7 billion since 1997. Growth in US based R&D currently stands at 8%, and in China – a massive 25%.
With the EU’s goal of becoming “the most competitive and dynamic knowledge-based economy in the world” by 2010 (which lies at the heart of the Lisbon Agenda) and for R&D spend to reach 3% of GDP, the time for tangible, practical and proactive action has arrived. As Esko Aho, who chaired the group that presented the “Creating an Innovative Europe” report stated:
We were unanimous about the details and the basic paradigm. There is a large gap between the rhetoric and the reality in Europe. While the Lisbon targets are good, the implementation of them is poor.
R&D and innovation are essential. If the EU is weak in these areas, then member countries may have to consider national strategies, and some members are already considering alternative trade routes, which could be disastrous for the EU.
This 2-day conference, to be held in Central London on the 18th and 19th of May, 2006, will discuss policy and financial perspectives associated with the 7th Framework Programme, including its funding (EU Budget, fund allocation etc) and the role of the member states in progressing more favourable investment climates in relation to EU R&D.
Supporting this will be a key panel discussion that will focus upon the emergent Asian and existing USA markets, and explore the potential opportunities and threats they pose to the growth of EU research, development and innovation investment.
The conference will also offer empirical evidence of how to build and grow SMEs into large, international businesses, focussing on the role of venture capital and SME policy/practical support.
The conference will discuss how European companies can reconcile their corporate strategies in relation to investments in research and innovation, with the pressures to perform and maintain consistent profitability from the financial markets and shareholders alike.
In support of this, industry focus is given to both the energy and information and communication sectors, looking at examples of cooperation within and across sectors. The positive aspects of investment in research and development will be highlighted, including its extended use in marketing and public relations.
This event will be highly relevant to venture capitalists, financial market analysts, those involved in financing and sourcing finance for research and/or development and innovation operations, research management and administration representatives from all sectors, but particularly those from energy, IT and telecommunications organisations. SMEs seeking finance and investment will also benefit from attending this conference, as will academics, researchers, NGOs and think tanks.
It also considered greater financial mobility as a key constituent in the development of a more innovative Europe, and it is within this context that this conference is organised.
Background
In 2003, European research and development represented 1.93% of EU gross domestic product (GDP), compared with 2.59% in the US and 3.15% in Japan, while a recent report investigating the current state of research and development (R&D) in the European Union has painted a picture of the EU consistently losing out to more dynamic and innovative international markets.
Investment by EU firms in US and Asian markets continues to grow, while investment by foreign companies within the EU in the areas of R&D continues to slow. The discrepancy between EU investment in the US and vice versa amounts to around 2 billion Euro (2002), which represents and increase of 1.7 billion since 1997. Growth in US based R&D currently stands at 8%, and in China – a massive 25%.
With the EU’s goal of becoming “the most competitive and dynamic knowledge-based economy in the world” by 2010 (which lies at the heart of the Lisbon Agenda) and for R&D spend to reach 3% of GDP, the time for tangible, practical and proactive action has arrived. As Esko Aho, who chaired the group that presented the “Creating an Innovative Europe” report stated:
We were unanimous about the details and the basic paradigm. There is a large gap between the rhetoric and the reality in Europe. While the Lisbon targets are good, the implementation of them is poor.
R&D and innovation are essential. If the EU is weak in these areas, then member countries may have to consider national strategies, and some members are already considering alternative trade routes, which could be disastrous for the EU.
This 2-day conference, to be held in Central London on the 18th and 19th of May, 2006, will discuss policy and financial perspectives associated with the 7th Framework Programme, including its funding (EU Budget, fund allocation etc) and the role of the member states in progressing more favourable investment climates in relation to EU R&D.
Supporting this will be a key panel discussion that will focus upon the emergent Asian and existing USA markets, and explore the potential opportunities and threats they pose to the growth of EU research, development and innovation investment.
The conference will also offer empirical evidence of how to build and grow SMEs into large, international businesses, focussing on the role of venture capital and SME policy/practical support.
The conference will discuss how European companies can reconcile their corporate strategies in relation to investments in research and innovation, with the pressures to perform and maintain consistent profitability from the financial markets and shareholders alike.
In support of this, industry focus is given to both the energy and information and communication sectors, looking at examples of cooperation within and across sectors. The positive aspects of investment in research and development will be highlighted, including its extended use in marketing and public relations.
This event will be highly relevant to venture capitalists, financial market analysts, those involved in financing and sourcing finance for research and/or development and innovation operations, research management and administration representatives from all sectors, but particularly those from energy, IT and telecommunications organisations. SMEs seeking finance and investment will also benefit from attending this conference, as will academics, researchers, NGOs and think tanks.