| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2012) 392 final (17.7.12) |
| Publication Date | 17/07/2012 |
| Content Type | Policy-making |
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Knowledge is the currency of the new economy. A world-leading research and innovation capacity, built on a strong public science base, is therefore critical to achieving lasting economic recovery and to securing Europe's position in the emerging global order. EU inward foreign direct investment (FDI) in R&D is holding up, bucking the trend of a decline in overall inward FDI. But indicators of scientific quality, excellence and impact show a weakening of the EU's global position and an on-going exodus of scientific talent. The Commission has proposed an increase in the EU R&D budget to €80 billion for Horizon 2020 and Member States have committed themselves to the EU target to invest on average 3% of EU GDP in research by 2020. But to maximise the return on this investment, Europe must increase the efficiency, effectiveness and excellence of its public research system. This is why the European Research Area (ERA) is at the heart of the Europe 2020 strategy and its Innovation Union (IU) policy flagship and why the European Council has called for ERA to be completed by 2014. The IU aims to ensure that new knowledge-intensive products and services contribute substantially to growth and jobs, but a genuinely world class science base is crucial to achieving this aim. A key aim for ERA is also to reduce both brain drain, notably from weaker regions, as well as the wide regional variation in research and innovation performance, aiming at excellence across the Union through smart specialisation. As with the Commission's proposal for Horizon 2020, all this must all be achieved using rules and procedures which are as simple as possible from the user's point of view. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2012:0392:FIN:EN:PDF |
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| Subject Categories | Culture, Education and Research |
| Countries / Regions | Europe |
