European countries are in transition. Demographic changes, cultural and political developments at national as well as at European level trigger fundamental shifts in economic, social and political institutions. Europe is coping with societal challenges such as economic stagnation, youth unemployment, social cohesion and ethnic diversity. As a result, the transition urges the continuous innovations of governments, businesses and civic efforts to sustain Europe as a prosperous and democratic community. As a response to the economic challenge, the stimulation of growth and the creation of jobs in Europe has become a main priority. Research and innovation are important key factors to accelerate the European economy and in achieving these goals.
The European Foundations for Research and Innovation (EUFORI) Study presents an assessment of the contribution of European foundations to research and innovation. The study shows a significant annual contribution of foundations in stimulating research and innovation in the EU. Due to their independent position, their freedom of action and financial autonomy, foundations can play a unique role in society. The EUFORI Study also presents important examples of the significance of foundations in boosting research and innovation projects. The study demonstrates that foundations themselves are innovative in their modus operandi and are exploring new paths to giving. They become more and more accustomed to giving seed money to social enterprises and start-ups. Relatively new concepts and practices such as entrepreneurial philanthropy, social venturing and social investment are actively being explored by foundations.
The EU conference ‘The role of Philanthropy and Social Investments in Fostering Research and Innovation; New Forms of Financing and Partnerships’ (PHISI) - held on April 21-22 2016 in Amsterdam, the Netherlands - built on the results and recommendations of the EUFORI Study. This conference marked the beginning of a joint effort of the EU, business, and foundations to mobilize private investments in research and innovation in Europe. The conference aimed to bring different actors together to discuss new financing forms and possibilities for partnerships. One of the important questions that was addressed is how to close the collaboration triangle between the public sector, the commercial sector and the foundations. One of the outcomes of this conference is a longlist of possible (new) financial forms that may foster research and innovation in the European Union.
The conference brought together over 150 participants from a wide variety of European countries. For two days Amsterdam was a meeting place for foundations, policy makers, innovative philanthropic and social investors, social entrepreneurs, research institutes, financial intermediaries, corporations and researchers. In a beautiful ambiance in the oldest Zoo of the Netherlands, Natura Artis Magistra, the participants exchanged expertise on new forms of financing fostering research and innovation in Europe. They explored possibilities for partnerships and discussed how to close the collaboration triangle between foundations, the government and de business sector.
