The long-term objective is to develop the current regional innovation platform into an innovation corridor with global impact. This will be facilitated on the political level by:
- A Dialogue on Innovation in the short tem
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- A Common Space for Innovation and Technology under the new Agreement
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- A Common Framework for Innovation policy between EU and Russia
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- Association of the Russian Federation to the 7th Framework Programme on R&D
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- Russian participation in the activities of the European Institute of Innovation and Technology
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- A dedicated programme on territorial cooperation in strategic fields of innovation and technology between the EU and Russia for the duration of 2013 - 2010
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From a practical perspective, ERICO will serve as a hub for EU-Russia cooperation in the field of innovation and provide the necessary facilities, technical skills and business services for local and foreign businesses to successfully generate and transfer knowledge. More specifically ERICO will:
- Engender relationship between Finnish/EU and Russian businesses
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- Attract talented professionals to work in the Innovation Corridor
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- Encourage investment, particularly in small innovative businesses
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- Enhance the commercial and residential services making the area attractive for working and living
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