"Pact for innovation" to promote the EU’s major aim of convergence

Economic convergence is a major aim of the EU. Innovation and investment in economically weaker regions are key steps to foster convergence • Public institutions and the regulatory environment for investments differ substantially across EU member states and increase economic disparities • Pact for Innovation: structural funds with a strong focus on innovation; access to funding only granted if structural reforms are implemented • This should ultimately harmonize the regulatory environment and support convergence through growth