We benefit from scientific discovery and technological advances in our daily lives — new innovative goods and services are available that are tailor-made to our specific needs.
EU contribution to RSFF in 2009
At the same time, research creates new knowledge that can help to address the global challenges and risks we are facing such as climate change, energy security and environmental pollution. It is also a key economic factor in terms of its potential to create growth, income, employment, competitiveness, a strong market position and environmental protection. Research needs investment for this, but does not always guarantee immediate success.
Research projects are high risk, due to their uncertain outcome or potential for exploitation. Financial support is thus difficult to obtain. In addition, the economic downturn has rendered it more difficult to reach the European Union’s initial goal of investing 3 % of GDP from the public and private sectors in research. FP7 provides a new financial instrument to invest in promising research projects: the Risk Sharing Finance Facility (RSFF).