This document summarizes findings from two EU projects, INNOVATION IMPACT and IMPLORE, that studied the innovation impacts of EU Framework Programme (FP) R&D projects and national R&D programmes. The projects found that a majority of FP participants reported commercializable outputs and programme managers reported high innovation impacts. FP projects were found to focus more on knowledge sharing and exploration rather than direct commercialization. Additionality was higher for smaller firms and riskier projects. The document recommends focusing on thematic areas' needs rather than differences between instruments and not expecting huge impacts from individual projects.