INNOVATION : PARLIAMENT WANTS ONE STOP SHOP'.

The European Parliament adopted, on 12 May, a report on the new Innovation Union flagship initiative. This was presented by the EU executive in October 2011 as part of the Europe 2020' strategy. The EP, in adopting a report by Judith Merkies (S&D, Netherlands), sees the initiative as the most significant and targeted EU attempt so far to introduce a strategic, integrated and business-oriented European innovation policy. This would supplement member state efforts in the field. One of the key elements is simplifying grant applications via a one stop shop' for innovation.

"Europe needs a change of mindset. Innovation goes far beyond research. It is about boosting our citizens' creativity and then linking good ideas to the needs of the market," said rapporteur Merkies. Her report calls for a clear distinction between original innovation', when something is made for the first time, and improvements' made to a product or service. Socio-economic innovation, too, needs to be precisely defined, as it is often not related to a product, but is a series of interconnected institutional changes that constitute a process.

The EP also wants the EU to step up efforts aimed at stopping the brain drain of potential high-tech entrepreneurs. "Why did many Europeans become innovation refugees' in the Silicon Valley? It is not because Americans are more creative, it is just that the regulatory framework and the business culture don't help here," believes Merkies.

SIMPLIFIED GRANTS, MORE FINANCING

Also central to the report is a call on the Commission to evaluate and if possible combine existing aid schemes and...

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