Photonics industry commits to more than 5 billion Euros investment in Europe

Photonics industry presents a proposal for a Photonics Public Private Partnership (PPP)/ Overall investment volume of 7 Billion Euros in Europe by 2020 aims to boost economic growth and jobs

Photonics21 has today announced its commitment to a proposed Public Private Partnership (PPP) with the European Commission in research and innovation in photonics. The proposal represents a total investment of 7 Billion Euros of which 5.6 Billion will be provided by the private sector and 1.4 Billion by the European Commission. The announcement was made at a Luncheon in the European Parliament in Strasbourg hosted by MEP Malcom Harbour.

"Photonics are synonymous with a modern and technologically advanced Europe. The proposed 7 Billion Euro partnership between Photonics21 and the European Commission would represent a substantial contribution by this sector towards future growth and job creation, and significantly assist the EU’s continued economic recovery. It will be a major boost for the roll out of the Innovation Union", MEP Malcolm Harbour (ECR).

The PPP was proposed by Photonics21 following an invitation to do so by European Commission Vice President Neelie Kroes at its Annual meeting in February 2011. The proposal seeks to establish the PPP within the context of the forthcoming European Horizon 2020 programme, which the Commission will present before the end of the year. The aim of the PPP is to provide for a closer alignment of industrial, scientific and public strategies within the photonics sector. By significantly improving the transition from scientific discovery to real world applications the partnership would ensure the fullest exploitation of the economic and employment potential of this sector. Giorgio Anania, Photonics21 Vice President and member of the KET High Level Group, states that "given the magnitude of the gains such an alignment may realise, this proposal represents a significant contribution by the photonics industry towards the improved growth and competitiveness of the EU".