470.   The European Union is happy to contribute once more to the important debates that have been taking place in the TRIPS Council on different aspects of "IPR and Innovation". 471.   The IP is most of the time generated from collaborative research. The results of research and innovation are, more often than not, protected by IP in order to reimburse costs related to the research and development carried out. 472.   Of course, the right-holders are then responsible for the level of licensing they grant to third parties and the future sharing of benefits if an innovation becomes a product sold on the commercial market. 473.   The IP portfolio is beneficial to all parties and thus also a good development tool for developing countries. 474.   In general, collaborative research agreements are governed by four principles:  The parties will mutually notify each other the IP generated and will undertake to protect the IP within a period of time;  The parties will exploit effectively the IP generated;  The parties will not exercise any discriminatory treatment; and  The parties will protect confidential information. 475.   The EU has supported partnerships among Universities all over the world for many years. 476.   During the ongoing research and innovation (R&I) Framework Programme, Horizon 2020, the Commission has been promoting public-private collaboration for IP commercialization and academic entrepreneurship through a dual-pronged approach by fostering seamless approach from Open Science to Open Innovation. 477.   In fact, for the multiannual financial framework of the EU budget (2021-2027), we have proposed an ambitious €100 billion research and innovation programme, Horizon Europe, that will boost the scientific, economic and societal impact of EU funding and ultimately increase the prosperity and well-being of Europeans. 478.   Innovation is a key driver for the EU to continue delivering prosperity to its citizens and meeting challenges of the future. Implementing it requires a systemic, cross-cutting and multifaceted approach. The quest for acceleration of new ideas, products and processes is driving Horizon Europe objectives and implementing modalities. 479.   Horizon Europe builds on lessons learned and on experience gained under the previous framework programme. It follows a three-pillar approach addressing fundamental science, global challenges and innovation. One of the pillars of the programme is called Innovative Europe that will help the EU become the frontrunner in market-creating innovation. This pillar provides for the launch of the European Innovation Council (EIC) that will mainly promote breakthrough and disruptive technologies and innovation by serving as a one-stop shop for innovation to help small companies to innovate and scale up. 480.   Through Horizon Europe the Commission will support Universities to develop i.a. entrepreneurship, in particular by fostering the integration of universities in innovation ecosystems, and enabling the entrepreneurial aspirations of researchers at all career stages with adequate knowledge, skills, and resources, including IPR skills training and support for knowledge transfer capacity. 481.   Horizon Europe also urge beneficiaries to use their best efforts to exploit their results, particularly in the European Union. The exploitation of results can also take place through the transfer and licensing or results, encouraging public-private uptake and valorisation of IP for wider societal benefits and economic value. 482.   In addition, to further foster the academia-industry cooperation, the European Commission is considering the revision of the 2008 EC Recommendation on the management of intellectual property in knowledge transfer activities.