•They focus policy support and investments on key national/regional priorities, challenges and needs for knowledge-based development, including ICT-related measures
private sector investment •They get stakeholders fully involved and encourage innovation and experimentation •They are based evidence
growth, as an important innovation effort and considerable investment is required to shift towards a resource-efficient and low carbon economy, offering opportunities in domestic and
not only investment in research or the manufacturing sector, but also building competitiveness through design and creative industries
and knowledge-based investments that are most likely to deliver growth and jobs in the regions.
public investments and supports countries and regions in strengthening their innovation capacity while focusing scarce human and financial resources in a few globally competitive areas in order
internal R&d investment, which is aimed not only at implementing available technologies but also at exploring recent advances in areas of nanotechnology and biotechnology
'blind'duplication of investments in other European regions. Such blind duplication of efforts could lead to excessive fragmentation, loss of synergy potential,
selective investments in future-oriented domains with a high innovation and growth potential and large societal impact.
specialisation of R&d investment, publications and citations, and patent applications and citations by'field'.'A region has a comparative advantage in a certain field
public investment in research/education/innovation in the region (by all levels of government predictability of the innovation policy framework for regional stakeholders;
Favourable conditions for equity investment, business angels and venture capitalists business environment favourable to the creation of new SMES;
stability of public investment in research, education and innovation; proper balance between institutional and competitive funding for innovation;
should be seen as an investment rather than a burden The most important types of organisation that need to be involved in the RIS3 process are public
This includes private investments, as one explicit goal of RIS3, included in the criteria for the conditionality, is to leverage private RTD investments
If such an analysis has not yet been initiated, RIS3 presents an opportunity to do so and will
investments that have the potentially highest impact on the regional economy. The priority setting for national and/or regional research and innovation strategies for smart specialisation
•Complement national investments in research infrastructure •Participation in national competitiveness poles/centres programmes (co-funding
investments in large S&t infrastructure linked to regional advantages •Participation in national competitiveness poles/centres programmes (limited regional
•Investments in scientific or technology niches complementary to national science hubs •Technology transfer instruments (university
investments •Competence centres and competitiveness poles relevant for regional industry •Entrepreneurship and spin-off support (business
•Attracting national investments in vocational and tertiary education •Promoting national training, lifelong learning schemes for companies and
•Securing national infrastructure investments to enhance connectivity Source: OECD 2011 58 Developing a RIS3 involves a degree of risk-taking,
resources towards investments with a potentially higher impact on the regional economy. The distinctive elements that can guide review,
and improving their investment in R&d facilitating innovation and promoting entrepreneurship. Cohesion Policy in fact provides the
They represent an aggregate European investment of more than EUR 100 billion. Some 50,000 researchers a year use them to produce 3, 000 to 6, 000 high
and avoid duplication of investment in infrastructures similar to those already in place nearby How to act
Investments in existing and new RIS should combine in the most efficient and effective way the instruments and funds available (e g. taking into account the
For the next programming period, the investment's priorities proposed under the Cohesion Policy cover these aspects with an emphasis on connecting universities to regional growth and
SMES, and/or relevant investments 80 •Studies and investments associated with the maintenance, restoration and upgrading of the
cultural and natural heritage of villages and rural landscapes, including related socio -economic aspects •Co-operation among different actors in the Union, agriculture, food chain, forestry sector
trying to create the conditions to attract new investment, the smart specialisation strategy builds on or constitutes the first step towards local/regional'digital agenda'.
objectives of both regional and rural policies depend on the good planning of these investments This is as much a socioeconomic as a cultural and political challenge which management
Europe is facing an investment challenge in the financing of high speed internet infrastructure because the benefits for society as a whole appear to be much greater than the private incentives
The large amount of investment required to achieve ubiquitous coverage80 requires a combined effort from a large number of investors from
the private and public domains, the adoption of open and long-term investment models81 and the use of a range of financial tools including grants and financial engineering
leveraging financing and investments in innovation and improved coordination and coherence between funding for research and
as well as ensuring investment in digital service infrastructures (trans-European high speed backbone connections for public administrations
challenges for management authorities is therefore to select investment models and strategic priorities that will foster the above efforts
Mbps), assessing the most suitable investment models, 89 etc. This may take the form of a stand
enable regions to identify the priorities for ICT investment which are pertinent to your territory
Notably the Guide to Broadband investment http://ec. europa. eu/regional policy/sources/docgener/presenta/broadband2011/broadband2011 en. pdf
innovative investment models; to exploit pre-commercial procurement and other related innovative procurement activities including reinforcing cross border and international
The Guide to Broadband Investment, presenting the various models for management authorities wishing to invest in high speed infrastructure,
investments respect the relevant regulation (telecom framework, State aid guidelines, etc. they can benefit from a wide range of EU funding instruments from the Connecting Europe Facility
work through the different stages of the Guide to Broadband Investment as well as specific assistance through a range of training modules, workshops and training events
The EBP will also continue to work on the guide on broadband investment models with the
proposal for the new Cohesion Policy as one of the investment priorities of the European
Regional Development Fund (ERDF) as a relevant investment for the smart growth of regions. 94
In addition, the Commission plans to cooperate more closely with the European Investment Bank in order to provide loan guarantees to productive investments.
Overall, a coherent financial framework will be put in place in order to support all development and innovation stages of
In many cities and regions, including rural areas across Europe, investments in cultural and creative industries (CCIS) already have a significant impact on smart, sustainable and inclusive
attractiveness of regions in terms of human resources and investments. These positive impacts are highlighted in different EU policy documents and studies. 102
the prototype profile of their activities, their lack of investment-readiness, as well as the insufficient investor-readiness of financial institutions to support them
cultural and creative industries through investment priorities103 closely linked to the objectives of the EU 2020 Strategy
Strategic and inclusive approach to investments and the use of financial resources •Streamline regional,
-finance investments in the cultural and creative sectors, in conjunction with the financial instrument that is proposed under the Creative Europe framework programme108 as a way
to give leverage to private investment in this field •Further exploit links between the CCIS and other important policy areas for cohesion and/or
•Promote investments in the protection, promotion and development of cultural heritage. 109 Other investments could include:
the development and use of new information technologies for example to promote the digitisation of cultural heritage), strengthening of
addressing skills and training issues) investment should equally be encouraged 107 Add reference when programme is adopted on 23 november
guarantees and equity investment for SMES. In the 2007-2013 financial framework a new generation of financial instruments was put in place in cooperation with the EIB Group.
in order to deliver investments in projects which demonstrate appropriate repayment capacity in situations of market imperfection.
resources, which will be ring-fenced for investments in line with the programmes concerned, for example, a guarantee facility is being launched to incentivise financial intermediaries to extend
It also briefly describes the joint initiatives with the European Investment Bank EIB), the European Investment Fund (EIF) and the Council of europe Development Bank
CEB) which promoted the implementation of financial instruments with resources provided to Member States through Regional Policy (European Regional Development Fund) and the EU
finance for start-up and growth of SMES in order to support the investments of such companies in innovation activities, including eco-innovation.
investments in the transport, energy and renewable sectors. The Fund was established as a regulated, specialised investment vehicle under Luxembourg law.
The Commission representing the EU, has a seat on the Supervisory Board responsible for setting the overall
individual investment decisions, as this is the responsibility of the Management Board and Investment Committee of the Fund. 114 Policy DG in charge:
DG ECFIN, with participation of DG MOVE and DG ENER EU level debt instruments (guarantees/risk sharing:
improve access to debt financing for promoters of research and innovation investments by sharing the underlying risks between the EU and the EIB.
SMEG is operated by the European Investment Fund (EIF on behalf of the Commission (representing the EU). 116 Policy DG in charge:
forms of repayable investments in enterprises, mainly SMES, public private partnerships urban development projects; or in legal or natural persons carrying out specific investment
activities in energy efficiency and renewable energies. Cohesion policy does not finance individual projects directly at the EU level,
developed together with the European Investment Fund in order to promote the use of financial engineering instruments to improve access to finance for SMES via Structural
Joint European Support for Sustainable Investment in City Areas is a joint initiative of the European commission's Directorate General for Regional Policy (DG
natural persons carrying out specific investment activities in rural areas, in accordance with the relevant rural development programmes.
The European Investment Bank is the long-term financing institution of the European union and its mission is to help implement the EU's policy objectives by financing sound business projects
finance to small and medium-sized enterprises with eligible investment programmes or projects costing less than EUR 25 million.
The European Investment Fund provides financial intermediaries an integrated risk finance product range of SME finance initiatives, complementing the products offered by the EIB with
•Higher impact of innovation investments thanks to a comprehensive strategy that combines R&d investments (e g. in eco-innovation) with purchasing innovations (e g. of energy
efficient and low carbon buildings or transport •Higher mobilisation effect on private investors/venture capital, thanks to the faster market
access and return-on-investment for innovative firms Barriers and challenges The main reasons why still too few public procurers in the EU buy innovations and why the
mostly too small for companies to make investments in innovations worthwhile. There are hardly any mechanisms to allow the pooling of risk and resources across countries and
The ERDF permits the strategic combination of investments in R&d&i capacity-building with demand-side measures in a unique manner.
responsible for implementing policies, programmes, legislation and public investments in key areas for sustainable growth and innovation such as energy, environment, transport, land-use
package, covering all shared managed funds, through thematic objectives, investment priorities and also as a crosscutting principle.
development policy has also reinforced its contribution for the energy investments Yet, achieving the EU's 20-20-20 objectives on greenhouse gas emissions, energy efficiency and
The European Social Fund (ESF) has made significant investments in social innovations ranging from supporting local partnership
169 http://ec. europa. eu/internal market/investment/docs/social investment/20111207proposal en. pdf 170 www. socialinnovationeurope. eu
4. 4 Does the document outline measures to stimulate private R&d&i investments, for instance through public-private partnerships?
•They focus policy support and investments on key national/regional priorities challenges and needs for knowledge-based development
private sector investment •They get stakeholders fully involved and encourage innovation and experimentation •They are based evidence
and strategic policy arrangements are in place for effective investment. In relation to research and innovation investment supported by the ESI Funds,
an ex-ante conditionality is the existence of a national or regional smart specialisation strategy in line with the National
contraction business investment is at a very low level. It has started recently growing again but acceleration is held back by the high debt of nonfinancial corporations.
internationally trading) and foreign direct investment, including greenfield and expansions. There is a strong focus on intensifying promotion of entrepreneurship and
Enterprise policy is focusing on realising the economic benefits of its investments to date in R&d infrastructures, by strengthening our IP framework, by brokering partnerships
Investment •are owned foreign, and are generally larger scale entities. Foreign owned MNCS have been key to delivering on Ireland†s enterprise policy since the
this speaks to the success in embedding the practice of R&d investment in companies in Ireland
maximise Ireland†s return on investment in research is emphasised explicitly in the Higher Education system Performance Framework 2014-16 under System Level Objective 4:
The importance of investment in science, technology and innovation to Ireland†s ongoing and future economic and social development is reflected in the appreciable allocations for
investment in science, technology and innovation by Government in the current and previous National Development Plans,
Prior to a Government policy decision to make a significant investment in science, technology and innovation, research funding in Ireland was at very low levels.
This approach to the investment followed the recommendations of the Technology Foresight exercise 7 conducted by The irish Council for Science, Technology and Innovation (ICSTI) in 1998
These investments have been made to strengthen national research capabilities via investment in human and physical infrastructure.
Cycles 1 to 4 have been completed, Cycle 4 in 2012 and the Cycle 5 investment was initiated in December
2010. The aim of the programme is position Ireland as an internationally recognised location with the infrastructure and skills required for world class research and development
positive trajectory for the STI investment and associated policy The SSTI sought to build on progress in the research base from 2000
Government made a major commitment, through substantial public investment, in the SSTI with the result that we have made significant steps in establishing a strong research
In the last decade we have trebled the level of investment in research and development providing enterprise support for R&d, investing in human capital, physical infrastructure and
This investment has contributed significantly to an increase in Foreign Direct Investment (FDI), the competitiveness of indigenous enterprise and to the
creation and application of new knowledge and technologies In summary the achievements secured from the investment since 2000 place Ireland in a
strong position to realise the vision associated with the SSTI of a country renowned for the
national investment to catalyse all island and international cooperation in priority areas and maximise draw down of non-exchequer funding
investment will be most relevant and with greatest opportunity for skill supply and uptake and spill overs etc
investment. With increasing pressures on exchequer resources, a country of Ireland†s size is not in a position to develop critical mass in each and every field of science and the need to
RPSG), tasked with identifying a number of areas around which future public investment in STI
underpinned by future investment in publicly-funded STI 2. Identify and articulate, as far as possible, a non-exclusive list of supporting fields of science
Are there other areas where public investment can be leveraged? Infrastructure human capital 3. Ireland has built
investment. Significant examples of such areas included bioenergy and the discovery and development of therapeutics.
investment that is oriented towards The irish enterprise base (see Table 3). Detailed descriptions of the priority areas and opportunities identified are provided in the Steering
Government investment in research less the research component of the â€oeblock grant†to HEIS and the funding administered by the enterprise development agencies for in-company
Ireland capture the local and global benefits of investment in health related research •Data repositories serviced by experts to capture
•Ongoing investment in the ICT/â€oee-infrastructure†that underpins all research endeavours in the country
a share of future investment will remain untargeted in order to support excellent basic research in new and unanticipated
The NRPE was undertaken to select areas to focus RD&I investment where Ireland had a realistic chance to excel and therefore maximise impact of RD&I investment on the economy
It was based on a strong evidence base and rigorous analysis combined with stakeholder broad based) judgement
specific economic outcomes from investment in research. In the context of the Government Decision in February 2012 to implement the recommendations contained in the Report of the
accelerating the economic and societal return on our STI investment. There will be an opportunity to consolidate that overarching goal further in the context of a new Strategy for
•investment in research infrastructure •focused international collaboration 22 PRTLI (5 th Cycle 2011-2016
IDA Ireland programmes provide the basis for winning new FDI investment projects. The IDA€ s
Ireland has made a significant investment in the KETS in the last decade and is currently
investment in Science, Technology and Innovation (STI) has been developed, in response to the recommendation in the RPSG report as set out in the previous section of this paper.
investment in R&d under Research Prioritisation 2. To assess the success over time of the implementation of Research Prioritisation
associated with national R&d investment and the internationalisation of Irish research The Framework is illustrated in Figure 3
particular, the outputs and outcomes associated with total Government investment in research and development (GBAORD 13 The adoption of National Targets also reflects the fact
that investment in research contributes directly to performance at the aggregate national level The National Targets serve as the basis for establishing some of the targets for the
Prioritisation, A framework for Monitoring Public Investment in STI€ 14 9. Budgetary Resources Framework for Research and
â€oestate Investment in R&d 2011-2012†Forfã¡s, August 2013 As can be seen from Figure 4,
Ireland has adopted a target of raising combined public and private investment to 2. 5%of GNP
tight control over investment in the period to 2015. Post 2015, in the context of a return to
the pattern of annually increasing public investment in R&d coupled with a quickening of the
average rate of growth of private R&d investment from the relatively modest rate of 3 %forecast to 2014.
environment for R&d investment as well as supports for higher education R&d, industry linkages with higher education researchers, commercialisation of research results, in-company
Technology and Innovation (STI) investment in broad terms and in relation to implementation of research prioritisation;(June 2013
•They focus policy support and investments on key national/regional priorities challenges and needs for knowledge-based development
private sector investment •They get stakeholders fully involved and encourage innovation and experimentation •They are based evidence
and strategic policy arrangements are in place for effective investment. In relation to research and innovation investment supported by the ESI Funds,
an ex-ante conditionality is the existence of a national or regional smart specialisation strategy in line with the National
contraction business investment is at a very low level. It has started recently growing again but acceleration is held back by the high debt of nonfinancial corporations.
internationally trading) and foreign direct investment, including greenfield and expansions. There is a strong focus on intensifying promotion of entrepreneurship and
Enterprise policy is focusing on realising the economic benefits of its investments to date in R&d infrastructures, by strengthening our IP framework, by brokering partnerships
Investment •are owned foreign, and are generally larger scale entities. Foreign owned MNCS have been key to delivering on Ireland†s enterprise policy since the
this speaks to the success in embedding the practice of R&d investment in companies in Ireland
maximise Ireland†s return on investment in research is emphasised explicitly in the Higher Education system Performance Framework 2014-16 under System Level Objective 4:
The importance of investment in science, technology and innovation to Ireland†s ongoing and future economic and social development is reflected in the appreciable allocations for
investment in science, technology and innovation by Government in the current and previous National Development Plans,
Prior to a Government policy decision to make a significant investment in science, technology and innovation, research funding in Ireland was at very low levels.
This approach to the investment followed the recommendations of the Technology Foresight exercise 7 conducted by The irish Council for Science, Technology and Innovation (ICSTI) in 1998
These investments have been made to strengthen national research capabilities via investment in human and physical infrastructure.
Cycles 1 to 4 have been completed, Cycle 4 in 2012 and the Cycle 5 investment was initiated in December
2010. The aim of the programme is position Ireland as an internationally recognised location with the infrastructure and skills required for world class research and development
positive trajectory for the STI investment and associated policy The SSTI sought to build on progress in the research base from 2000
Government made a major commitment, through substantial public investment, in the SSTI with the result that we have made significant steps in establishing a strong research
In the last decade we have trebled the level of investment in research and development providing enterprise support for R&d, investing in human capital, physical infrastructure and
This investment has contributed significantly to an increase in Foreign Direct Investment (FDI), the competitiveness of indigenous enterprise and to the
creation and application of new knowledge and technologies In summary the achievements secured from the investment since 2000 place Ireland in a
strong position to realise the vision associated with the SSTI of a country renowned for the
national investment to catalyse all island and international cooperation in priority areas and maximise draw down of non-exchequer funding
investment will be most relevant and with greatest opportunity for skill supply and uptake and spill overs etc
investment. With increasing pressures on exchequer resources, a country of Ireland†s size is not in a position to develop critical mass in each and every field of science and the need to
RPSG), tasked with identifying a number of areas around which future public investment in STI
underpinned by future investment in publicly-funded STI 2. Identify and articulate, as far as possible, a non-exclusive list of supporting fields of science
Are there other areas where public investment can be leveraged? Infrastructure human capital 3. Ireland has built
investment. Significant examples of such areas included bioenergy and the discovery and development of therapeutics.
investment that is oriented towards The irish enterprise base (see Table 3). Detailed descriptions of the priority areas and opportunities identified are provided in the Steering
Government investment in research less the research component of the â€oeblock grant†to HEIS and the funding administered by the enterprise development agencies for in-company
Ireland capture the local and global benefits of investment in health related research •Data repositories serviced by experts to capture
•Ongoing investment in the ICT/â€oee-infrastructure†that underpins all research endeavours in the country
a share of future investment will remain untargeted in order to support excellent basic research in new and unanticipated
The NRPE was undertaken to select areas to focus RD&I investment where Ireland had a realistic chance to excel and therefore maximise impact of RD&I investment on the economy
It was based on a strong evidence base and rigorous analysis combined with stakeholder broad based) judgement
specific economic outcomes from investment in research. In the context of the Government Decision in February 2012 to implement the recommendations contained in the Report of the
accelerating the economic and societal return on our STI investment. There will be an opportunity to consolidate that overarching goal further in the context of a new Strategy for
•investment in research infrastructure •focused international collaboration 22 PRTLI (5 th Cycle 2011-2016
IDA Ireland programmes provide the basis for winning new FDI investment projects. The IDA€ s
Ireland has made a significant investment in the KETS in the last decade and is currently
investment in Science, Technology and Innovation (STI) has been developed, in response to the recommendation in the RPSG report as set out in the previous section of this paper.
investment in R&d under Research Prioritisation 2. To assess the success over time of the implementation of Research Prioritisation
associated with national R&d investment and the internationalisation of Irish research The Framework is illustrated in Figure 3
particular, the outputs and outcomes associated with total Government investment in research and development (GBAORD 13 The adoption of National Targets also reflects the fact
that investment in research contributes directly to performance at the aggregate national level The National Targets serve as the basis for establishing some of the targets for the
Prioritisation, A framework for Monitoring Public Investment in STI€ 14 9. Budgetary Resources Framework for Research and
â€oestate Investment in R&d 2011-2012†Forfã¡s, August 2013 As can be seen from Figure 4,
Ireland has adopted a target of raising combined public and private investment to 2. 5%of GNP
tight control over investment in the period to 2015. Post 2015, in the context of a return to
the pattern of annually increasing public investment in R&d coupled with a quickening of the
average rate of growth of private R&d investment from the relatively modest rate of 3 %forecast to 2014.
environment for R&d investment as well as supports for higher education R&d, industry linkages with higher education researchers, commercialisation of research results, in-company
Technology and Innovation (STI) investment in broad terms and in relation to implementation of research prioritisation;(June 2013
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