Space is more than a driver of innovation and scientific progress which enables systems and services essential for our well-being and security.
Space is also in the pocket of European citizens when they use their mobile phones, do financial transactions, take an airplane, watch the weather forecast or look for the nearest restaurant. Based on the large number of services and applications it enables, space has a high potential for growth in areas such as telecommunications, navigation and Earth observation.
The global economic and financial crisis has seriously affected the levels of investment in Europe however. Collective and coordinated efforts at the European level are needed to reverse this downward trend and put the EU on the path of economic recovery. The €315 billion European Fund for Strategic Investment (EFSI) is an important tool to speed up economic growth and job creation in Europe. It has huge potential to contribute to the modernisation of European industry but its success depends on the industrial participation.