Towards European Industrial Innovation: Who Should Lead The Way?

In the proposed post-2020 Multi-Financial Framework (MFF), the European Commission has set out an ambitious €100 billion research and innovation programme that will succeed Horizon 2020. In addition, the EU is set to reinforce its European Innovation Council to further boost investment and risk-taking in R&D. According to EU officials, such measures hold the potential to considerably drive economic and technological development in the European Union, shaping the future for a strong, sustainable and competitive European economy.

With R&D playing an increasing role in the EU’s industrial policy, questions are being raised as to the effectiveness of this considerable spending. Industry leaders have pointed out that public sector capital should be used as a tool to drive private investment. Currently, multinational companies account for more R&D spending around the world than governments, and the private sector is best placed to boost innovation in key specific areas. In light of this, industry experts have underlined the need to include them on a more continual basis in discussions with policymakers.

• Are the investment opportunities sufficiently distributed throughout member states, as well as across sectors?
• How can EU research and innovation policies help combine the idea of a sustainable yet industrial Europe, while drawing investment away from less legislation-heavy territories?
• How could innovation policies be better streamlined with regard to other policy areas? Are policies, at present sufficiently, integrated with one another?