Some might have preferred this money to be spent differently but, from the work of Joseph Schumpeter, to the one of Michele Cincera or Jacques Mairesse we know there are clear links between research, innovation and economic development.

What’s even more exciting is that the package includes a €1.2 billion boost for the information and communication technology sector. As we start exploring the potential of cloud computing and continue to go into unchartered territory as many-core chipsets and devices become common, such a boost brings a tremendous opportunity for European ICT research.

In order for Europe to be able to compete globally, one has to understand how to exploit the latest technologies and this expertise can only be acquired by being in the game. Even if we don’t succeed at direct commercialization, the indirect benefit is significant!



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