The European Union is up and running with its 2020 Strategy that self-imposes numerous key targets to be achieved through initiatives, (also referred to as flagships), in order to revive the European economy. A critical flagship in this regard is the "Innovation Union" that aims to make of Europe a centre of innovation, as this will reflect in solutions to tackle major societal challenges, such as climate change, energy and resource scarcity, health and ageing, which are becoming more urgent.
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