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Innovation is one of the key foundations upon which Spain’s economic growth will be built

19:05 Farmaindustria
During the Innovation Summit of the Spanish Confederation of Employer’s Organizations (CEOE), the President of Farmaindustria encouraged all stakeholders to foster R&D&i

Innovation should be the main axis of Government policies and should be a priority which is shared by society and the entrepreneurial world operating in Spain”. Ms. Elvira Sanz, President of Farmaindustria spoke these words during the opening session of the Innovations Summit organised by the Spanish Confederation of Employers Organizations (CEOE) today in Madrid. Joining Ms. Sanz, who currently chairs the R&D&i Commission at the CEOE, was the State Secretary for R&D&i, Carmen Vela and Telefonica’s President, César Alierta.

During her speech, the President of Farmaindustria stressed that innovation is a fundamental foundation for balance and sustainable growth of the Spanish economy, which is the reason why all stakeholders’ commitment should be boosted further: Government, public organisms, academia and entrepreneurs.

She regretted that our country is still far from the objectives set by the European Commission with regards to innovation in the European Strategy 2020, which aims at improving the conditions and access to funding research and innovation to generate growth and jobs. In economic terms, this initiative lays out that, in 2020, 3% of the European Union’s GDP will be allocated to R&D&i projects. Specifically, Ms. Sanz stressed that “after a decade of continuous growth, investments in R&D&i have decreased from 1.38 to 1.30% of GDP between 2009 and 2012”.

Besides, she pointed out, Spain is neither complying with the European indicators as far as the distribution of expenditure between public and private organisms is concerned, since private institutions shall “make a bigger effort so these figures get closer to those experienced in other innovative leading countries”. In spite of the work that lies ahead for the private initiative, Ms. Sanz remarked that the economic crisis is the main cause behind the R&D&I companies’ investments not reaching expectancies during these last years (Co’s operating in Spain).

Therefore, she emphasised the commitment acquired by the CEOE to lead the process to bring Spain closer to the objectives established in “Strategy 2020” and also those specific proposals laid out to foster R&D&I, amongst which, the revision of priorities in expenditure and funding re-allocation are essential.

The Summit brought together a great number of important companies operating in Spain where innovation is concerned. The summit was officially closed by HRH the Prince of Asturias, the Spanish Minister for Economy and Competitiveness, Mr. Luis de Guindos and CEOE’s President, Mr. Juan Rossell.

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