[5] There are some critics of this and similar initiatives, arguing that the funding of graphene-related research and innovation is disproportional to estimates of industrial potential.

[6][7] However, advocates for the Graphene Flagship note the merits of the initiative’s wide-ranging, applications-focused research, and the potential for graphene to catalyze innovation and economic growth across sectors and interest areas including biomedical research and health, transport, water safety, energy efficiency, battery and semiconductor development, wearable electronics, digital communications, sustainability and the environment, and space exploration.

[8] In 2009, the European Commission identified the need for Europe to address the big scientific and technological challenges of the age through long-term, multidisciplinary R&D efforts.

It was initially implemented as a Seventh Framework Programme under the European Commission's Directorate General for Communications Networks, Content and Technology (DG Connect).

[13] The Graphene Flagship is divided into 19 work packages, 15 focusing on specific science and technology topics, and four dedicated to innovation and operational/management functions.

As well as being the thinnest, strongest, and lightest known material, graphene is flexible, impermeable to molecules and extremely electrically and thermally conductive.

This means that among its applications, it is being used to develop next-generation optoelectronics and optical communications systems; to drive advances in solar cells, batteries, super capacitors, hydrogen storage and fuel cells, and sustainable city development; to pave the way for biomedical products including targeted drug delivery and biosensors; and to improve the mechanics of aircraft, aeronautics, and human space exploration.