Innovation
In a remarkably short period of time, economic globalization has changed the
world's economic order, and at the same time, bringing with it new
challenges and opportunities. Europe cannot compete in this new environment
unless it becomes more innovative and responds more effectively to
consumers' desires and preferences.
The European Union possesses extraordinary potential for innovation. Europe
has a longstanding tradition of producing breakthrough inventions; it has a
wealth of creative people and can build on its cultural diversity. It has
laid the foundations for one of the largest single markets in the world,
where innovative products and services may be commercialized on a large
scale. Historically it has a strong and responsible public sector, which
should be capitalized on.
The European Commission is formulating, influencing and, where appropriate,
implementing policies and programmes to increase Europe's innovativeness.
The Commission is trying to make sure innovation is thoroughly understood
and approached comprehensively, thereby contributing to greater
competitiveness, sustainability and job creation.
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