The 'Europe 2020 Strategy' is the main instrument of the European Union defining its policy of growth in the coming decade. In a rapidly changing world, the EU would like to achieve a smart, sustainable and inclusive economy. These three mutually reinforcing priorities should help the EU and its Member States to ensure a high level of employment, productivity and social cohesion. Research and innovation contribute directly to the European level of prosperity and well-being of individuals and society as a whole. The main aim of policy in the field of research and technological development is to transform the European Union into a leading knowledge based economy.
Innovation partnerships are based on innovation concepts originating from government agencies, public and private companies and institutions, as well as representatives of industry groups, banks, business and the science community in order to ensure the transformation of innovative ideas into new products and services that create jobs and strengthen the country's economy. This kind of public-private partnership is widely used in the European Union and referred to as the 'Innovation Union'. Innovative collaboration tools have an effective influence on the growth of the economy, such as the 'Innovation Trend Charts', allowing to monitor innovation trends and industrial development and to conduct a timely analysis of innovation policies. The assessment and comparative analysis (benchmarking) of innovative activity of all participants in the market of new products and services is needed to support the development of a constructive dialogue between all interested parties at every level, from the laboratory to industrial corporations and from small business structures to major players in the international market.
The EU initiative 'Innovation Union' focuses on Europe's efforts – in cooperation with countries outside the EU – to tackle the main challenges of our time: energy, food security, climate change and an aging population. The Innovation Union is using public sector intervention to stimulate the private sector and remove bottlenecks that hinder the idea of expanding the market, including the lack of financing, fragmented research systems and markets, under-utilisation of public procurement for innovation and the slow the formation of the legislative base.
The EU is also working to create a single European Research Area (ERA), where researchers will be able to work anywhere in the EU. Cooperation between the countries will be supported and encouraged. The current challenges are at the centre of the large political development programmes in Europe.
To better understand the 'Europe 2020 strategy,' as well as for information about the layout of the 'Innovation Union' and such concepts as the 'European Technology Platforms', the 'European Technology Market', the 'Enterprise Europe Network' and to find out find out what 'Kowledge and Innovation Communities (KIC)' are all about, make sure to check the following documents.