On Innovation Strategy (Gravesham and Dartford Liberal Democrats)

Gravesham and Dartford Liberal Democrats <membership@libdems.org.uk>

On Innovation Strategy

May 23, 2007 12:00 AM
By Sharon Bowles MEP, Draftsman of the opinion of the Committee on Economic and Monetary Affairs in European Parliament
Originally published by Sharon Bowles MEP

This report contains a long list of ways in which to encourage innovation, many of which are valuable. But I cannot reiterate too strongly that easy access - and I do not just mean simpler or less complicated access - to innovation programmes and ventures for smaller businesses is imperative and a lot of work remains to be done in that sphere.

I am pleased that the report includes several of the suggestions from the Committee on Economic and Monetary Affairs, in particular the one emphasising that the 3% of GDP target for R[amp]D expenditure should be a minimum. I am also pleased that it welcomes the proposal for a Risk-Sharing Finance Facility and recognises the problems associated with protecting innovation in services, most notably smaller businesses' difficulties with trade secrets and confidentiality agreements, which can hinder their ability to raise finance.

It is clearly true that intellectual property is intimately related to innovation. However, I am sorry to see statements in the report that are pre-emptive of the work that is going on within the Commission under the auspices of Commissioner McCreevy on various ways to improve the patent system.

The approach of that work is pragmatic and constructive and may offer better solutions, for example, than trying to integrate the European Patent Office into the Community, which is by no means a simple solution, nor most likely to resolve most of the outstanding problems. It is certainly not something that could be achieved rapidly.

Innovation, intellectual property and competitiveness are part of globalisation, where international norms are important. This means an outward-looking international approach is essential, and I welcome recognition of that with regard to standards. I caution against being too introspective with regard to patents. The victim is eventually competitiveness.