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Derived Socio-economic Impact:
Attract Industrial Research Investment,
Exploit Research Assets,
Foster Innovation
Economic Benefits, Societal Benefits & Innovation Systems
The ERC has established itself as an important component of the European research funding mechanism
•
that is expected to play a central role in the new European Innovation Union initiative. As such, the ERC is
fully committed to improving the attractiveness of Europe for industrial research investment by rewarding
high-risk innovative proposals of the very highest quality that are likely to generate new and unpredictable
major scientific and technological discoveries that can form the basis for new industries and markets.
The excellent exploratory research that the ERC has been supporting since its launch often generates new
•
discoveries, but also unexpected opportunities for commercial and societal applications. The ERC is com-
mitted to ensuring the full exploitation of the excellent ideas it funds but also to capturing the maximum value
from frontier research. To this end, the ERC is currently looking at the patents submitted by ERC grantees
and at the licensing of spin-offs. The patent application is an indicator of innovative research and is also
one of the benchmark features included in the profile of a competitive ERC applicant. From 2011, the ERC
has also introduced the
top-up grants to support the novel ideas generated by ERC
projects in their first steps towards the market. Thanks to this unprecedented initiative, the ERC is totally in
harmony with the
(3)
by supporting every link in the innovation chain, from blue
sky research (ERC Starting, Advanced and Synergy Grants) to the early commercialisation phase of a novel
idea (Proof of Concept Grants).
The ERC’s ultimate aim is to fully develop a knowledge and innovation society in Europe and ensure Eu-
•
rope’s global competitiveness and prosperity through the generation of research results that will significantly
advance the frontiers of knowledge, help address societal changes and feed into the innovation chain, thus
leading to economic growth, the creation of business in emerging sectors, and a better quality of life for
European citizens.
At the end of the
(2)
, a more detailed impact of the ERC Grants hosted in Greek
Host Institutions will be provided based on publications and patents produced, spin-offs created, person-
nel/researchers trained, etc.
62
the
case of
GREECE
5
years of
Excellence in
the European
Research Area
2007-2011