Brussels, 08 Dec 2003
Eureka, the European network for market oriented research and development (R&D), has outlined how it intends to contribute to the EU's goal of increasing research investment to three per cent of GDP by 2010.
The new head of Eureka, Michel Vieillefosse, has given details of the new 'Master Plan 2003-2005', the 'key objective' of which is the EU's three per cent target. This cannot be achieved without substantial private investment, according to Eureka, and the organisation therefore intends to encourage such funding.
'Eureka must [...] go out into the private funding sector and find out how market-ready projects can be better brought to investors' attention and attract investment,' writes Mr Vieillefosse in the 2003 winter edition of Eureka News.
Eureka also intends to assess smoothing the transition between Eureka funding and the private funding needed for commercialisation. Mr Vieillefosse believes that funding would be easier to find if venture capitalists were more aware of the Eureka label, which signals that a product has market potential.