Commission Vice President Günter Verheugen is determined to repeat the GSM standard success story. To do so, the European Union must step in to help bring innovative products and services to market.
"The lead market initiative (LMI) has identified promising emerging markets in which the EU has the potential to become world leader and where coordinated action is urgently needed," he said. The six markets are eHealth, protective textiles, sustainable construction, recycling, bio-based products and renewable energies.
Although in their infancy, the chosen areas already generate over €120 billion in sales and employ over 1.9 million people in the EU. All six of the chosen areas promise lucrative returns to companies that get established quickly.
The opportunity to take the lead in these areas has "a rather short time span", Verheugen said, adding that Europe's small and medium-size enterprises (SMEs) are well placed to be among the market pioneers because of their ability to move fast.
This session will hear from two of the key officials involved in the LMI: Jiri Plecity, from Mr. Verheugen's Cabinet, and Pierre Vigier, from the Directorate-General Enterprise & Industry, European Commission. It will also, following the normal Policy Bridge format, include ample opportunity for event participants to air their own suggestions for LMI priorities.