A European Union (EU) commissioner has highlighted the importance of innovation in the region as a means of producing job opportunities.

Maire Geoghegan-Quinn told the Business Europe CEO event in Brussels that it will play a key role in creating the positions of the future.

The commissioner for research, innovation and science stated that in the wake of the financial crisis, it is important to invest in new developments that will strengthen the EU economy and generate work opportunities.

She also highlighted the central role paid by innovation in the Europe 2020 Strategy for growth and the recent launch of the EU's Innovation Union policies.

"We need an Innovation Union to get millions of unemployed people back to work and to address society's biggest challenges," Ms Geoghegan-Quinn declared, adding the approach needs to be "cross-policy, cross-border and cross-sector".

The Innovation Union plans were unveiled in order to enhance conditions for research and development within the region in order to fuel growth and jobs, with figures showing the EU's investment in innovation to be lower than other parts of the world.

Posted by Alex Donnell