Opinion: EU Invests €22 billion in Research and Innovation

The European Commission is set to invest large amounts into research and development to create well paid jobs and generate sustainable economic growth and boost Europe’s competitiveness across a range of key sectors which also aim to improve our quality of life.

Over the next 7 years a partnership between the European Commission, member states and industry will invest €22 billion in innovative medicines, aeronautics, bio-based industries, fuel cells and hydrogen and electronics. With the aim of generating high quality jobs across the EU covering these sectors through public-private partnerships called Joint Technology Initiatives (JTIs).

The EU has seen its main competitors around the world investing heavily in these areas, and according to the Commissioner for Research Innovation and Science, Máire Geoghegan-Quinn, the rest of the world is thinking big. If we are to stay part of the game we need to increase both our public and private investment.

This recent announcement will see €8 billion coming from the Horizon 2020 programme, €10 billion from industry and €4 billion from member states. With the investment being funnelled into 5 JTIs:

  • Innovative Medicines: which seeks to develop the next generation of vaccines, medicines and overcome the problem of antibiotic resistance
  •  Fuel Cells and Hydrogen: which will develop clean and efficient technology for transport, industry and energy.
  • Clean Sky: which aims to develop cleaner, quieter aircraft and reduce carbon emissions.
  • Bio-based Industries: which will produce greener every day products through innovative technology and renewable natural resources.
  • Electronic Components and Systems: which will increase electronics manufacturing across the EU.

These JTIs will operate with a number of industrial partners, with a focus to generate jobs through small companies (SMEs) as well as larger ones. For example the Bio-based Industry JTI will work with a cross-sector group of 48 large and small companies to deploy biobased products across Europe by 2020.

If the EU is to maintain its position as an innovative place to work and to kick start economic growth these public private partnerships generating investment in key areas of industry, that will not only provide sustainable jobs, but look to improve quality of life for everyone, are essential. This is a great example of how the EU can work together with member states and industry to create jobs and economic growth across the EU.

* Richard Davis is a prospective Member of the European Parliament for London. His website is here.

Read more by or more about , , or .
This entry was posted in News.
Advert

2 Comments

  • Fair enough. I think member state initiatives have been ineffective thus far

Post a Comment

Lib Dem Voice welcomes comments from everyone but we ask you to be polite, to be on topic and to be who you say you are. You can read our comments policy in full here. Please respect it and all readers of the site.

To have your photo next to your comment please signup your email address with Gravatar.

Your email is never published. Required fields are marked *

*
*
Please complete the name of this site, Liberal Democrat ...?

Advert



Recent Comments

  • Andy Daer
    For some voters, breaking international law is reaffirmation that Britain has become Great again, because Brexit was about getting free from the tyranny of our ...
  • Steve Trevethan
    Might the provision of decent public services after World War 2 have been made possible by factors additional to socio-economic theory and the high likelihood ...
  • Martin Gray
    Despite the recent by-election victory - the polls still have the cons on mid thirties, with everything that's gone on ...Come the GE there won't be any stay at...
  • Roland
    Picking up the other thread in this case ie. the legal arguments being used to justify the decision, it is worth reading the full syllabus and opinion: https://...
  • William Francis
    Maybe, and me out on this... we call on the government and the train companies to offer an above-inflation pay rise to the rail workers, and then the strike wil...