I hope this report will give us all plenty to think about. Research and innovation used to be a specialist policy. It is now mainstream economic policy. And we have the data and evidence to support this.
My 3 policy priorities are Open Innovation, Open Science and Open to the World. Open Innovation, because innovation is becoming more collaborative, diverse and global. New opportunities are coming from the intersections between business and science. Between the digital and physical. And between users themselves as innovators. Europe clearly needs to address the problems of underinvestment in innovation. We are doing this through the Investment Plan and through the Capital Markets Union, to develop a pan-European venture capital fund of funds.
We have also been assessing regulatory barriers to innovation. We will soon pilot a new approach called "Innovation Deals". We will invite innovators to come forward with specific regulatory hurdles they face, and sit down with them to find ways they can bring their innovations to market within the flexibility of existing regulations.
Open innovation also means getting more out of Horizon 2020, the largest collaborative research and innovation programme in the world. In particular, I would like the programme to provide a better experience for innovators and support more disruptive innovation. So, I have launched a call for ideas for a European Innovation Council.