ERAC Opinion on the idea of a European Innovation Council
In July 2016 ERAC adopted an "Opinion on the idea of a European Innovation Council". The document was an input for the discussion at the informal meeting of Competitiveness ministers on 18-19 July 2016.
ERAC stresses that implementation of all ideas and measures related to an EIC should be made in full respect of the principle of EU added value and should complement national activities in line with the principle of subsidiarity. ERAC finds that further analyses of EU’s innovation capacity and the need for concerted EU action, as well as thorough evaluation of existing EU-instruments, should form the basis for further developing the concept of an EIC. Therefore, thorough analyses, in particular of the dynamism of market-creating innovation, conditions for scaling-up of businesses, the economic potential of innovation and of what constitutes EU added value in this context must be conducted.