Better regulations for innovation-driven investment at EU level
Commission staff working document
Better regulations for innovation-driven investment at EU level
Commission staff working document
Publication metadata
Innovation is a necessary condition for sustainable growth for Europe. 'A growing body of evidence suggests a strong relationship between entrepreneurship, innovation, and economic growth, therefore 'action is needed to stimulate more and better investment in research and innovation.' Innovation depends on a large number of systemic factors, including the incentives and obstacles set by the existing regulatory framework. A recent CEPS study concludes that: 'EU regulation matters at all stages of the innovation process from R&D to commercialisation.' There is, however, no simple relation between innovation and the regulatory environment. For this reasons, the Commission is committed to evaluate the impact of existing or proposed EU regulation on innovation to maximize the way it can support innovation. The Commission Better Regulation procedures and its rolling REFIT programme provide a framework for this work, allowing it to enhance innovation-based opportunities for sustainable growth, jobs and competitiveness. A favourable regulatory framework would also enhance the impact of Horizon 2020 financing instruments, which support initiatives to tackle societal challenges and ensure industrial development, innovation and competitiveness in Europe.