Mark Wells of EurExcel From: 2005 ISPIM Innovation Conference (Porto) With approximately ten billion Euros - each year of the programme - on research projects, designed to: Prime the pumps on European businesses, to inspires them to co-invest and after-invest in research activities, moving Europe towards the Barcelona objective of 3% GDP investment in research and development, Move Europe forward in the world league table of research, keeping us ahead of the game in the world market and equip us better to fight off competition from others particularly the USA and the Far East, Give real opportunity for European enterprises to create wealth by harnessing new science and technology into world leading profit-making businesses. If past performance is an indicator of the future we can expect less than 15% of those funds to be directed at SMEs; the same SMEs that account for 98% of all enterprises in Europe, two-thirds of all employment and half of all new jobs. It is broadly accepted than one of the greatest failings of Framework Programme is the lack of effective exploitation of the research outputs from funded projects. This has been summed up in the phrase The EC is very good at turning Euros into research but not at turning research into Euros'. The essential missing ingredient is so often the presence of an entrepreneurial actor to connect the opportunity with the technology. A full version of this document is not available for purchase or download.