GENEVA, Jan. 19 (Xinhua) -- Europe's leaders will have to embrace bold and innovative reform programs to secure a peaceful, prosperous and stable future, one of two research papers released Friday by the World Economic Forum (WEF) said.

The first research paper, New Concept for Europe, is the result of a six-month consultation with leaders from business, government, academia and civil society and young people.

A second paper, released Friday finds Europe's economy at risk of losing ground to other regions in the world if it does not fully use the strengths of start-ups and corporates to forge stronger connections and create value.

The papers are aimed at building a vision for a modern and resilient Europe, with policy recommendations put forward by experts from all stakeholder groups and youth from across the continent.

"One of the key findings of the (first) paper is that Europeans, especially younger people, believe that a core set of European values, based on inclusion and equality, openness and diversity, democracy and inclusiveness and sustainable growth are coming increasingly under threat," said WEF.

Concerns remain about Europe's ability to shape the fourth industrial revolution for the benefit of all and to fully leverage its innovation potential, say the papers.

The WEF has launched a practical guide for start-ups and big business to collaborate and develop a vibrant pan-European ecosystem for innovation and entrepreneurship

Ideas in the papers will be further discussed at the 48th World Economic Forum annual meeting taking place Jan. 23-26 in Davos-Klosters, Switzerland, under the theme "Creating a Shared Future in a Fractured World."