Innovation Union: An integrated innovation strategy for growth and jobs
The Innovation Union is one of several flagship initiatives which support Europe 2020, the EU's growth strategy until the end of the decade. Peter Dröll, head of the Innovation Policy Unit at the Directorate-General for Research and Innovation, explains how SMEs can contribute significantly to achieving the objectives of this initiative by generating growth and creating jobs.
‘We need SMEs in our drive to become a more competitive, sustainable and inclusive economy. We also need SME's ingenuity to address societal challenges,’ underlines Dr Dröll. European SMEs are key players, considering their 85% contribution to total employment growth, while accounting for 67% of jobs. ‘It is impressive that SMEs create more new jobs than their actual share in the economy. They are a job-creation machine!’
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