The INESC Brussels HUB Winter Meeting 2026 convened senior EU and Portuguese policymakers, European Commission officials, European research leadership, and institutional strategists to discuss the preparatory phase of the next Multiannual Financial Framework (2028-2034) and the proposed design of FP10 and the European Competitiveness Fund (ECF). Portugal’s simultaneous creation of AI2, the Agency for Research and Innovation, provided a real-time governance test. Discussions were structured along two intersecting axes: vertical governance alignment (EU-national-regional-institutional coherence) and horizontal sectoral integration (R&I as enabler of industrial, digital, green, and defence transitions).