The European University Association (EUA) has criticised European Commission president Jean-Claude Juncker for ¡°hardly featur[ing]¡­research, innovation and ÖйúAƬ¡± in his .

Although acknowledging that the speech ¨C?delivered in Strasbourg on 14 September ¨C?¡°set[s] out a plan to strengthen investment to support jobs and growth, specifically through an extension and amplification of the European Fund for Strategic Investments (EFSI)¡±, the EUA argues that ¡°vital areas for investment¡­should be given higher priority¡±.

The EUA also ¡°strongly doubts¡± that the Commission¡¯s goals ¡°will be achievable¡± without diverting more money towards ¡°the knowledge creation and new skills needed to improve Europe¡¯s economy¡±.

In a titled ¡°One year of EFSI: What¡¯s in it for universities?¡±, the EUA considers plans to renew the EFSI for a longer period and with a larger budget and claims that ¡°the scheme is not benefiting the research and ÖйúAƬ sector¡±.

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¡°Investments through EFSI have not significantly contributed to the development of Europe¡¯s knowledge base or the development of Europe¡¯s human potential,¡± the EUA says.

This represents a significant lost opportunity, according to the EUA, given that ¡°universities, supported by appropriate funding mechanisms, are active players in innovation that work together with other partners, such as industry and SMEs [small and medium-sized enterprises], to address societal needs and develop new technologies, and thus, help create viable business opportunities in Europe¡±.

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To establish the EFSI ¨C which aims to leverage public and private investment to boost the Continent¡¯s economy ¨C?€2.2 billion (?1.87 billion) was taken out of the EU¡¯s flagship science and innovation programme, Horizon 2020, a move that was?met with criticism?from universities at the time.

The EUA review concludes with three action points for the European Commission, the European?Parliament and the European?Council, namely to ¡°avoid taking any more money from Horizon 2020 and feed unused money from EFSI back to those parts that foster basic and collaborative research through grants¡±; to ¡°increase highly successful grant programmes to fund academic research and education instead of further developing financial instruments and loan schemes¡±; and to ¡°continue the EFSI initiative only if it really delivers on the assumed leverage effect and proves to unleash private investment¡±.

matthew.reisz@tesglobal.com