The key element of this report is that the European Union must stay to the forefront in the area of research, innovation and science. This is important because without research, we cannot become the innovators of tomorrow.

We need research, if we are to create and to maintain employment in the EU and to remain competitive against the emerging economies.
We also need the public and private sectors to work together in a spirit of partnership. Efforts to encourage greater SME participation must also be encouraged at the highest level.

EU Heads of State and Government have endorsed the Innovation Union Flagship initiative when they met on February 4th last. But we now need action. Research and innovation are key tools that are at our disposal to help pull Europe out of the economic crisis that we currently face.