In March 2000, the EU Heads of State and Government meeting at the European Council in Lisbon agreed on an ambitious goal: making the EU by 2010 "the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion". Lisbon is pushing to boost R&D spending by governments, universities and corporations. The belief is that growth and employment will be achieved by investing in ICT industries – the flagship industries of the digital economy –, and boosting innovation, in particular in the “knowledge economy”.