In times of geopolitical uncertainty and upheaval, it is crucial to establish a strategically orientated and coordinated industrial and innovation policy in order to make Europe a strong location for innovation and business in the future. The aim must be to secure Europe's technological leadership in the world in order to strengthen our global competitiveness and at the same time to tackle key challenges such as climate change, demographic change, resource scarcity and urbanisation together. European research and innovation policy is a decisive lever in this respect, which must be complemented by a holistic industrial strategy.