In order to close the gap between the EU and its major competitors, there must be a significant boost of the overall R&D and innovative effort in the Union, with a particular emphasis on frontier technologies. The European Council therefore agrees that overall spending on R&D and innovation in the Union should be increased with the aim of approaching 3% of GDP by 2010. Two-thirds of this new investment should come from the private sector.
The use of structural funds in science and technology
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