Innovation Union prepares Europe for the economic challenges of the 21st century
Today the European Commission unveiled a new broad strategy to make Europe a world leader in science and business by calling for Europe to become an ‘Innovation Union’ by 2020.
Today the European Commission unveiled a new broad strategy to make Europe a world leader in science and business by calling for Europe to become an ‘Innovation Union’ by 2020. The EU’s flagship initiative is indispensable for getting Europe out of its comfort zone and equipping it better for the economic challenges of the 21st century.
“Placing innovation at the heart of economic policy is a necessity if Europe wants to remain an area of prosperity, growth and global competitiveness”, says John Vassallo, Microsoft Vice-President of EU Affairs.
Microsoft shares the European Commission’s point of view that continued investment is vital to stimulate innovation, social advancement and long-term growth in Europe. Pursuing innovation policy in the broadest sense, but in particular new technologies in the field of ICT will help Europe emerge from recession faster and boost its competitiveness at a global level. The Commission rightly identifies the protection of intellectual property rights as a key plank of any successful European innovation strategy and, without the appropriate safeguards, businesses and academics will continue to lack the confidence to develop and execute new ideas.
“Europe’s future economic success will depend on tomorrow’s entrepreneurs and innovators. We support the EU in its efforts to remove bottlenecks and to create the right policy framework which will sustain Europe’s knowledge base and skills, allowing talent to thrive and bringing the most innovative ideas from the lab to the market place”, adds Vassallo.
While short on detail about the private sector’s role, the Commission’s proposal is still likely to win broad industry support. Microsoft has a long-standing commitment in Europe and will continue to partner with the European institutions and member states to increase productivity and job creation through technological advancements. During the fiscal year 2010 Microsoft invested $8.7 billion in research and development globally, representing 14% of the company’s revenue. In Europe, ICT investment is driving 25% of EU GDP growth and 50% of EU productivity growth.
Link to blog post: http://www.microsoft.eu/Posts/Viewer/tabid/120/articleType/ArticleView/articleId/748/Welcome-to-the-Innovation-Union.aspx
John Vassallo is available for further comments. To arrange an interview please contact:
Sabina Gockel, email@example.com, +32 2 894 90 29