Women In Leadership: News & Events: EU launched flagship initiative “Innovation Union”

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EU launched flagship initiative “Innovation Union”

Posted in News
05 October 2010

Brussels is committing itself to boost investment in research by building on the strengths of the single market. This month, Commissioner for Research, Innovation and Science Máire Geoghegan-Quinn launched the "Innovation Union" flagship initiative for the Europe 2020 strategy, an initiative built together with Vice-President for Industry and Entrepreneurship of the European Commission Antonio Tajani.

Among its critical priorities, Innovation Union aims at creating a European Research Area (ERA) framework without obstacles to the cross border flow of people, ideas and funding as well as easing the access to finance, particularly for innovative start-ups and SMEs, by simplifying the funding procedures and encouraging private investments.

While business circles broadly advocate the need for a single innovation market, there are still several steps to pass until an agreement on the Community patent is reached. Commissioner Geoghegan-Quinn has thus made it a key priority to hasten the pace towards reaching agreement and is also supporting the idea of a European market for patents and licensing, following good practices in France and Denmark.