The EU commissioner for research Carlos Moedas has signed a Pact for Innovation, pledging to improve commercialisation in Europe.
The pact calls for efforts to overcome weaknesses in transforming research and inventions into innovation by 2020. Refocusing the EU budget towards innovation spending is one of its major priorities, and it urges EU institutions to use the mid-term reviews of the Multiannual Financial Framework, Horizon 2020 and the European Fund for Strategic Investments to “scale up innovations, creating new European-wide markets”.
Aligning funding programmes and instruments to over come the “valley of death” between invention and innovation is also needed to ensure greater economic value and employment, the pact states.
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