The European Commission today launches a consultation on major improvements to EU research and innovation funding to make participation easier, increase scientific and economic impact and improve value for money. The proposed "Common Strategic Framework", set out in a Green Paper, would cover the current Framework Programme for Research (FP7), the Competitiveness and Innovation Framework Programme (CIP) and the European Institute of Innovation and Technology (EIT). This will create a coherent set of instruments, along the whole "innovation chain" starting from basic research, culminating in bringing innovative products and services to market, and also supporting non-technological innovation, for example in design and marketing. The Commission's Green Paper also provides the basis for far-reaching simplification of procedures and rules. The changes aim to maximise the contribution of EU research and innovation funding to the Innovation Union and the Europe 2020 Strategy. Stakeholders have until 20 May 2011 to respond.