RTOs key players in European economic recovery

28 Oct 2010

European Research and Technology Organisations (RTOs) are “key actors” in the European innovation system, a recently released study has found.

The findings of the independent study, conducted by Technopolis Group, were presented by EARTO (the European Trade Association representing Research Technology Organisations) and demonstrates that RTOs play a significant role in European innovation. It also highlighted their importance in tackling key societal changes.

Economic competitiveness

EARTO president, Prof Erkki KM Leppävuori, said: “This study puts a necessary spotlight on the major contribution RTOs make to economic competitiveness and social progress in Europe. It demonstrates that RTOs are essential actors in the European innovation system and give real value for money.”

The study estimated that the annual economic impact of RTOs in Europe at up to €50bn and Leppävuori thinks it will identify RTOs as key players in the struggle towards economic resurgence.

EARTO welcomes the conclusions of this report. It will bring RTOs the recognition they deserve as key partners in the economic recovery and in the new European Innovation Union strategy unveiled a few days ago. We now look forward to the implementation of the study’s key recommendations, which will further increase the major impact of RTOs on society and the economy.”

The study was released at the award ceremony for the 2010 EARTO Innovation Prize, which went this year to the Fraunhofer Gesellschaft for its highly efficient concentrator module for solar panels and was presented by Commissioner for Research, Innovation and Science Máire Geoghegan-Quinn.