New public-private partnerships launched to boost scientific research – long recognised as a stimulus for economic growth by boostering R&D investment in manufacturing, construction and automotive sector.

 Spending on research and development today will make Europe more competitive tomorrow. That’s the thinking behind EU moves to promote R&D investment as part of the recovery plan to get Europe’s economy moving again.

Three new public-private partnerships (PPPs) should help. Financed 50% by the EU and 50% by industry, the PPPs will fund research on “factories of the future” for the manufacturing sector, “energy-efficient buildings” for the construction sector and “green cars” for the automotive sector.

Companies benefit from working with the EU because it gives them a say on strategic research priorities. And because a fixed budget over a number of years ensures continuity and enables them to make long-term investment plans. For the EU, sharing costs with the private sector makes expensive research projects possible.