Investing in Innovation and Europe’s Future
Dow has a well-established commitment to making Europe a global hub for innovation. In 2009, Dow invested 1.2 billion Euros (1.6 million dollars) in Research & Development despite challenging times for the chemical industry. However, our work is not done. Dow’s goal is not to be the biggest spender, but rather the most productive in helping the EU lead the way in tackling societal challenges through national research efforts.
Innovation and chemistry are inextricably linked. Together they serve as a catalyst for the new products and processes that will ultimately deliver sustainable growth to Europe. Considered to be the innovative industry a century ago, the chemical sector still holds the capacity and potential to re-invent itself by providing materials and products for practically every part of the economy.
Transforming the EU into an “Innovative Union” is an ambitious yet achievable goal that should foster the development of a long-term advanced manufacturing base in Europe. Dow welcomes the EU’s goal to boost innovation as one of its flagship initiatives to help achieve the EU2020 vision. It is critical that a framework is put in place to create sustainable policies that enable businesses like Dow to innovate at all stages of the product lifecycle.
To create policies that enable innovation broadly and within Europe’s advanced manufacturing sector, the European Union must increase research and development (R&D) investment; support the vision of creating a superior, modern education system in all Member States; and strengthen the chemical manufacturing ecosystem by enabling and facilitating innovation and increased collaboration along the entire value chain.