OVERVIEW

European collaboration across academia, policy and private sector

The European Commission's innovation action plan will look at what can be done to help Europe compete with the US, China, India and Japan. Greater partnerships, research collaborations and private investment can help convert leading research and development into marketable products. One of the stumbling blocks is a more risk-averse private sector investment strategy in Europe. Institutional investors in Europe have tended to have less venture capital than their US counterpart pension and insurance companies and are less inclined to back high-risk, high-reward emerging science enterprises. How can we deliver a strong European venture capital market to help turn innovation into commercial success?

A more collaborative and cohesive approach to investment, research and commercialisation would see Europe's science economy truly excelling. By linking knowledge, resources and skills we can produce harmonised research and development networks that can boost both innovation and investment opportunity. It is important that institutions, investors and companies work together and develop a long term strategy towards scientific progress and economic growth.

"Europe can, and we will, be a world leader in a range of sciences, including nanotechnology and biotechnology. I want Europe to be a vibrant innovation economy, a true 'Innovation Union', in which companies will want to do business and invest and where researchers from all over the world will want to work." Máire Geoghegan-Quinn, EU Commissioner for Research, Innovation and Science.

Our second annual SciTech Europe conference will help promote breakthrough research, successful innovation networks and potential investment opportunities. We aim to bring together some of the leading figures in science, engineering and technology across Europe for a high level meeting on how we can turn science into commerce.