Academics and economists from several sectors met to discuss these issues in detail. The experts felt that effects of the crisis on R&D are likely to be complex. In the short term, R&D spending is likely to decrease. Large companies are expected to focus on core business and continue to fund R&D spending in these areas. The best researchers in the best programmes and locations are not likely to suffer. However, small, specialised firms that play an increasingly important role in R&D are likely to be hit hard by the crisis. Europe will remain a good environment for attracting researchers but could lose competitiveness due to exchange rates. The experts recommended that there be increased co-operation between business and universities in R&D. Small business that are most affected should be supported as much as possible. There should be a focus on green and other socially important R&D issues and more incentives for national governments to invest in R&D. Despite the crisis, it is expected that Europe will continue to be an attractive location for researchers, academics and students.
Further information
The full conference report is available at: http://ec.europa.eu/research/social-sciences/events-22_en.html

Source: UKRO