On Friday 8 November, EU heads of state or government will meet informally in Budapest to discuss the declaration on the new European Competitiveness Deal (“Budapest Declaration”).
UKRO was able to access a first draft of the document, which puts research at the heart of European competitiveness.
The declaration echoes previous reports and documents, including the Draghi and Letta reports. It calls for introducing a fifth EU freedom focused on research, innovation, knowledge, and education. The draft also calls for strengthening the role of the European Innovation Council and for a commitment to invest at least 4% of GDP in research and innovation by 2030.
The section on Research and Innovation of the draft text is reported below. The full draft text can be accessed here: Draft Budapest Declaration (PDF, 0.9 MB)
Research and innovation
The Union has to remain at the forefront of technological progress, especially in disruptive technologies. Sectors such as AI, quantum technologies, biotechnology, space, advanced materials and net-zero technologies require particular attention.
We must adopt a ‘continuum approach’ to deal with this issue between key building blocks, namely academia, industry and public institutions, through a web of interconnected funding mechanisms and ambitious public procurement strategies. Only by further breaking down barriers will we help patentable research scale up into viable business models.
We call for the introduction of a ‘5th freedom’, focusing on research, innovation, knowledge and education. We will promote cutting-edge research, research transfer and its economic valorisation within the EU and commit to meet a 4 % GDP expenditure target in research and innovation by [2030]. We will also strengthen the role of the European Innovation Council.