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(11) Addressing the major societal challenges identified in the Europe 2020 strategy for smart, sustainable and inclusive growth ("Europe 2020 strategy") requires major investments in research and innovation to develop and deploy novel and breakthrough solutions that have the necessary scale and scope. These challenges also represent major economic opportunities for innovative companies and therefore contribute to the Union's competitiveness and employment.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.