Why investing in research and innovation matters for a competitive, green, and fair Europe :A rationale for public and private action

This paper provides a rationale on why investing in research and innovation (R&I) matters for Europe. It describes the potential of R&I to strengthen EU's competitiveness, support a green and sustainable future, and build a fair European society. EU's R&I performance is presented, of which the R&I investments compared to global peers, EU's main strengths and weaknesses and EU’s added value. The paper also highlights the importance of well-designed R&I policies, integral of the overall policy design and provides pathways to strengthen current public and private efforts to reap the full potential of R&I.