The European Union has released its final evaluation of a strategy that is expected to put emphasis on stimulating innovation in low-carbon sectors, giving the plan a thumbs-up on account of its conciseness, relevance, and effectiveness.
The Lead Market Initiative is designed to develop innovation-friendly markets in the e-health, protective textiles, sustainable construction, recycling, bio-based products and renewable energy sectors.
The E.U. concluded that the strategy's strength lies on its potential to focus on a relatively restricted number of inter-related policy issues. It also added that the selection of each sector was relevant for the E.U. level but could also be used at national and regional levels.
With action plans already mapped out for the next three to five years for each sector, the E.U. said citizens will benefit both from the positive impact on growth and employment, and from access to enhanced goods and services of high value.
The L.M.I. also supports the sectors by introducing actions which lower barriers and bring new products or services onto the market, such as regulation, public procurement, standardization and supporting activities, the E.U. said.
Britain's National Non-Food Crops Center, together with other leading European organizations, had collaborated to develop the L.M.I. and support the bio-based sector.
"We are particularly pleased that the L.M.I. will see a shift in E.U. innovation policy focus to a demand-side approach, where L.M.I. tools such as standardization," the N.N.F.C.C.'s biorefining chief Dr Adrian Higson said.
"L.M.I. tools such as standardization, public procurement and regulation will be vital tools to create a more innovative Europe," Mr. Higson ended.
The L.M.I. was launched by the European Commission following the E.U.s 2006 broad based innovation strategy. The selection of the sectors and action plans were approved in the competitiveness council -which was mainly composed of the Ministers for European Affairs, Industry and Research from member states - in May 2008.
source: APEC-VC Korea
