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The IIT project emerges from the need to detect new innovation trends throughout the whole of Europe and highlight the best practices. The project will also evaluate existing innovation policies at national and European level.
The Innovation Union is a key initiative of the Europe 2020 strategy. Its aim is to improve conditions and access to funding for research and innovation, ensuring that innovative ideas can be transformed into products and services that create growth and employment.
The EU encourages its member states to invest 3% of their GDP in R & D (1% of public funding and 2% of private sector investment) by 2020. This measure is expected to create around 3.7 million jobs and increase the annual GDP of the EU by about 800 billion euros.