The "Innovation Union" – turning ideas into jobs, green growth and social progress
The European Commission's "Innovation Union", tabled today, sets out a strategic approach to innovation, driven by the highest political level. The Innovation Union will focus Europe's efforts – and co-operation with third countries - on challenges like climate change, energy and food security, health and an ageing population. It will use public sector intervention to stimulate the private sector and to remove bottlenecks which stop ideas reaching the market. These include lack of finance, fragmented research systems and markets, under-use of public procurement for innovation and slow standard setting. The Innovation Union is a "flagship" in the Europe 2020 Strategy.