Introducing a European Innovation Stress Test

Keypoints

The EESC:

• recommends that the current and next European Commission should introduce a new Innovation Stress Test for the evaluation of each new legislation and policy initiative;

• proposes that the Innovation Stress Test should include the following ten key requirements.
  Does the new legislation/policy initiative :

a) protect consumers and the environment, as well as recognise the need for innovation to enable the EU's green and digital transitions towards sustainability, help to create more and better jobs for the benefit of society and stimulate the economy? (Yes)

b) ensure joined-up policymaking so that existing and future policies are employed in ways which create investor confidence and stimulate innovation, but do not create barriers for continued and new innovation investment in the EU? (Yes)

c) ensure clear understanding by innovators and investors? (Yes)

d) comply with use of the European Commission's Better Regulation toolbox? (Yes)

e) actively include consultation and involvement of innovators and investors across the full spectrum, from start-ups to international organisations, to ensure policies do not or will not unintentionally undermine investor confidence to invest or keep investing in EU innovation? (Yes)

f) recognise legitimate concerns regarding potential conflicts of interest and provide transparency on these issues for all involved in the process, including policymakers, public and private sectors and civil society? (Yes)

g) take account of the best available and most up-to-date weight of scientific evidence? (Yes

h) negatively impact availability of skills, human capital and education needed for innovation, research and development? (No)

i) result in actions which could generate a gender imbalance? (No)

j) conflict with existing or future tax incentives for innovation or research and development in Europe? (No)

For more information, please contact the INT Section Secretariat