Measurements in the infrared wavelength domain allow us to assess directly the physical state and energy balance of cool matter in space, thus enabling the detailed study of the various processes that govern the formation and early evolution of stars and planetary systems in galaxies over cosmic time. Previous infrared missions, from IRAS to Herschel, have revealed a great deal about the obscured Universe, but sensitivity has been limited because up to now it has not been possible to fly a telescope that is both large and cold. SPICA is a mission concept aimed at taking the next step in mid- and far-infrared observational capability by combining a large and cold telescope with instruments employing state-of-the-art ultra-sensitive detectors. The mission concept foresees a 2.5-meter diameter telescope cooled to below 8 K. With cooling provided by mechanical coolers instead of depending on a limited cryogen supply, the mission lifetime can extend significantly beyond the required three years. SPICA offers instrumentation with spectral resolving powers ranging from R ~50 through 11000 in the 17-230 $mu$m domain as well as R~28.000 spectroscopy between 12 and 18 $mu$m. Additionally SPICA will provide efficient 30-37 $mu$m broad band mapping, and polarimetric imaging in the 100-350 $mu$m range. SPICA will provide unprecedented spectroscopic sensitivity of ~5 x $10^{-20}$ W/m$^2$ (5$sigma$/1hr) - at least two orders of magnitude improvement over what has been attained to date. With this exceptional leap in performance, new domains in infrared astronomy will become accessible, allowing us, for example, to unravel definitively galaxy evolution and metal production over cosmic time, to study dust formation and evolution from very early epochs onwards, and to trace the formation history of planetary systems.
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