About EU Innovation 

The Lisbon Strategy for Growth and Jobs was set out by the European Council in Lisbon in March 2000. It aims to make the EU "the most dynamic and competitive knowledge-based economy in the world capable of sustainable economic growth with more and better jobs" by 2010. The Lisbon Strategy has been refocused in February 2005.

In the context of the Lisbon Strategy innovation is seen as the motor for economic change. The strategy therefore sets an array of policies and reforms designed to make Europe more competitive and innovation friendly. In order to create a more innovative Europe, R&D spending in private companies has to be substantially increased and the knowledge transfer between public research institutions and business has to improve.