The European Commission has adopted new rules defining the conditions under which state aids can be granted by EU member countries to support research, development and innovation activities. The objective of this new framework is to help Member States reach the targets of the Europe 2020 Strategy for smart, sustainable and inclusive growth (e.g. increase research & development spending to 3% of GDP), while at the same time limiting distortions in the Single Market.
Those rules will seek to ensure that public money is used where it is needed and help increase private investment in projects, while preserving competition within the EU. It will also facilitate the transition of knowledge and ideas to the market.
