EU and Innovation

The EU's Innovation Union strategy sets out a strategic approach to innovation – seeking to boost research and innovation performance in Europe by getting promising ideas and discoveries from the drawing table to the market faster.

Europe 2020 is the EU's growth strategy for the coming decade. In a changing world, the EU wants to become a smart, sustainable and inclusive economy. These three mutually reinforcing priorities should help the EU and its Member States to deliver high levels of employment, productivity and social cohesion.

Research and innovation are at the top of the EU's agenda for growth and jobs. Member countries have been encouraged to invest 3% of their GDP in R&D by 2020 (1% public funding, 2% private-sector investment) – which will create an estimated 3.7 million jobs and increase annual GDP by nearly €800 billion.

The European Union stimulates innovation in the former Yugoslav Republic of Macedonia through the FP7 and CIP programmes.

FP7 (Seventh Framework Programme for Research and Technological Development) is the EU's main instrument for funding research in Europe.

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CIP (Competitiveness and Innovation Framework Programme) supports measures to strengthen competitiveness and innovation capacity in the European Union. It particularly encourages the use of information technologies, environmental technologies and renewable energy sources.

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