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This paper investigates the benefits and risks of cooperation on the case of the European Network of Research and Innovation Centres and Hubs (ENRICH), which is currently being established in Brazil, China and the United States. Funded by Horizon 2020, an initiative of the European Union to foster research and innovation, the programme seeks to consolidate a European network in the field with other important regions of the globe. In this scenario, it is argued that building a common European community would bring more incentives and benefits to ENRICH than having a separate one for each centre, in line with noteworthy economic theories. By creating an even stronger strategic network, the ENRICH initiative could make use of its biggest assets – its partners and acting markets – to strategically insert itself into the global innovation ecosystem as a major player.

Research and Development as well as science and technology are key elements for innovation, and more generally are some among many areas that are becoming global. This reduces the influence of individual countries or blocs such as the European Union (EU) on developments both at home and abroad but also generates important benefits through specialization, trade and competition. R&D and science & technology are still strongly focused on the 'Triad' countries overall. However, this pattern is weakening fast, as especially the large emerging economies' role in global science, technology and innovation continues to increase. Following this reasoning, Brazil deserves special attention due its economic strength, accounting for almost 38% of Latin American GDP (IMF, 2013), and its huge entrepreneurship potential (Arruda, 2015). Against this background, the purpose of this paper is to examine in a first step the Innovation Systems of Brazil and Europe, then to show in a second step, how joint activities and programs can address the needs for a fruitful cooperation in international innovation in order to strengthen both Innovation Systems. For the first aspect, the paper provides an examination of Innovation Systems of Brazil and European countries based on library resources, articles, reports and other secondary data. The OECD bibliography will be the guideline to understand the Innovation Systems of the relevant countries. Regarding the second aspect, the EU Horizon 2020 funded project CEBRABIC - Centre for Europe-Brazil Business & Innovation Cooperation - will be elucidated. CEBRABIC aims at enhancing the cooperation in research, technology and entrepreneurship between the EU member states and Latin America's leading economy, Brazil. CEBRABIC will be a Centre working on a network basis: creating synergies and complementarities is the core value; particularly with European research and innovation (R&I) structures located in Brazil.