OVERVIEW

Innovation Union is the flagship initiative aimed at securing Europe's global competitiveness with the next financial framework, Horizon 2020, running from 2014 to 2020. It will combine all research and innovation funding, currently provided through the different framework programmes, so that the policies that support innovation are simplified. Innovative enterprises will be better supported to develop their technological breakthroughs into viable products with real commercial potential. This market-driven approach will help to create partnerships with the private sector and between member states to bring together resources much more effectively. Although this is undoubtedly a strong strategy for boosting EU innovation, does the initiative offer anything new and do we know which types of investment are more likely to foster success? What should the strategy include so that all EU countries can achieve stronger innovation outcomes and what limits Europe from reaching its potential?

Investment in research and innovation infrastructure was seen as a crucial element in many of the national stimulus packages that looked to offset the impact of the financial downturn. Many countries have since begun to withdraw some of the stimulus afforded to education and research institutions and any cuts in these areas may have a costly impact on prospects of long-term growth. Following the economic crisis, countries are looking at EU policy and Horizon 2020 to deliver concrete actions that can ensure that innovation is seized upon, not only as a source of economic growth, but also to address the social challenges that are not yet being served by the marketplace. The new financial framework offers a real opportunity for Europe to invest in world-class institutions and projects for research excellence and improve the way in which knowledge, research and skills are turned into value. Key to this is developing a single European market for innovative products, regulation and transnational research. How can the EU market be integrated further so that economies of scale and scope can be seized? How do we ensure there is not an innovation divide and what catch-up strategies are envisioned in the new framework and Innovation Union initiative?

SciTech Europe: Broadening Horizons – Creating a Single Market for Knowledge, Research and Innovation will provide a fantastic opportunity to build new partnerships, strengthen innovation strategies and promote world-class research. Delegates will gain insights into the very latest developments across the European science community and learn how policies are striving to benefit knowledge, prosperity and society at large. The meeting will bring together leading industry stakeholders, academic experts and key policymakers to outline a collaborative approach to European science, technology and innovation.