EU proposes restructuring of research funding to encourage innovation, increase its economic impact, involving researchers and more efficient use of public money.

In 2007-2013, the EU spends about 143 billion euros to finance research and innovation projects. The Commission prepares the ground for a new round of financing, taking as its starting point the priorities established in the Innovation Union initiative, included in the 2020 European Strategy for growth and creating new jobs.

The initial proposals to guide the funds to projects which propose responses to challenges - health and aging, climate change, food security, diminishing natural resources.

This will ensure better coordination of funding across the entire innovation chain - from basic research to market launch of new products and services.

Simplifying procedures and rules will allow researchers, companies and entrepreneurs to work more easily and will facilitate the acquisition and use of funds. Projects will be carefully monitored to ensure efficient use of public money.

Stimulating investment in research and development

 Redirecting funding will help reduce the gap in innovation between the EU and major competing economies, U.S. and Japan. According to an annual assessment, the United States before the EU is in many areas. Emerging economies such as China and Brazil, recorded, in turn, major advances.

European leaders argue that the Commission's approach involves, among other things, creating public-private partnerships designed to facilitate quick access to the market a large number of innovative products and services. The first partnership to be launched in 2011, in order to encourage the design and marketing of new products and services to ensure an active aging in good health.

The EU will encourage governments and industry to increase investment in research and development, so as to represent 3% of GDP by 2020 (compared to 2% in 2009). Achieving this goal would help create 3.7 million jobs and increase up to 795 million euros of annual growth.

Next Steps

 Until May 20, 2011, you can attend a public consultation on the Commission's proposals, will in the latter part of it to make concrete proposals on funding research.

Source: ec.europa.eu www.ust.md