This document summarizes an event on foresight and its role in driving the European Union towards becoming a knowledge-based society. The event will discuss how foresight, which aims to predict future needs and support decisions, can help inform policymaking and identify solutions to societal challenges through scenarios and breakthrough technologies. Participants will debate the roles of different EU institutions, member states, industry, research and civil society in both forecasting future scenarios and driving desired futures through backcasting strategies. The goal is to reflect on how foresight can best support the design of the European Union's next framework program for research and innovation to address complex challenges.