Smart investment

The European Commission is offering billions of euros to developers of new technologies in manufacturing, construction and automotive sectors.

The Commission has earmarked a total of €3.2bn (£2.7bn) to European public-private partnerships (PPPs) in these key market areas to trigger economic recovery and make it more sustainable and knowledge-based.

It is hoped these collaborations between the Commission and industry will foster global competitiveness for European businesses, bring down the excessive energy consumption of Europe's buildings that make up one-third of European Union CO₂ emissions and develop new and sustainable forms of road transport.

The partnerships are part of the Commission's European Economy Recovery Plan, an effort endorsed by the European Council on December 2008 to promote the convergence of public interest and industry commitment for research.

Janez Potocnik, EU commissioner for science and research, said: 'It is now recognised that investing in R&D is not a luxury when times are easy, but a necessity when times are hard. If Europe makes "smart" investments in strategic sectors today, this will create jobs and sustainable growth tomorrow. Through these innovative partnerships, the Commission and industry join forces to foster the development of clean technologies and to position Europe as a leader in this field. The early launch of the calls also proves our capacity to act together rapidly to respond to the research demands of the European Economic Recovery Plan.'