A renewed agenda for Research and Innovation: Europe’s chance to shape the future

Research and Innovation 2018

Jyrki Katainen, Vice-President of the EC in charge of Jobs, Growth, Investment and Competitiveness, and Carlos Moedas, Member of the EC in charge of Research, Science and Innovation, held a press conference to present the Commission’s Communications on Research and Innovation, and the Digital Single Market, for the Informal Meeting of EU Leaders in Sofia. © European Union , 2018 / Photo: Théodore Boermans

This article is brought to you in association with the European Commission

Brussels, 15 May 2018

The Commission today presents its contribution to the informal discussion that Heads of State and Government will hold in Sofia on 16 May 2018 on research and innovation and the steps needed to ensure Europe’s global competitiveness.

Investing in research and innovation is investing in Europe’s future. It helps us to compete globally and preserve our unique social model. It improves the daily lives of millions of people here in Europe and around the world, helping to solve some of our biggest societal and generational challenges. The Renewed European Agenda for Research and Innovation presents a set of concrete actions to deepen Europe’s innovation capability and provide lasting prosperity.

Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Europe has world-class research and a strong industrial base. But we must do better – much better – at turning that excellence into success. New megatrends, such as artificial intelligence and the circular economy, are going to bring profound changes to society and the economy. We need to act fast to be able to lead the new wave of innovation and set the standard for global competition.”

Carlos Moedas, Commissioner for Research, Science and Innovation, added: “With growing international competition, Europe needs to act urgently on research and innovation. The proposed €100 billion for the next EU research and innovation programme would be a huge boost. But Europe also needs to reform the support for breakthrough innovation through a new European Innovation Council, and reconnect with citizens through a mission driven approach to research and innovation. We need to future-proof regulations and attract more private investment, in particular in venture capital.”

It is time to take our ambition to the next level. We must act now to help Europe become the global innovation powerhouse that it has the potential to be. The Commission welcomes the President of the European Council’s decision to schedule a debate among Leaders on Research and Innovation, and invites them to discuss and give strategic orientation to its suggested actions, including by:

  • Ensuring that regulation and financing are innovation-friendly: Proposed measures include giving priority to the transposition of the Directive on preventing restructuring frameworks, second chances and measures to increase the efficiency of restructuring, insolvency and discharge procedures; Increasing the procurement of innovative products and services by public authorities by applying the guidelines published by the Commission today; Swiftly adopting the next EU 2021-2027 budget with the proposed allocation of €100 billion to Horizon Europe and the Euratom research and training programme, as well as other major funding programmes that will provide a significant stimulus to innovation; Rolling out the VentureEU initiative to boost private investment and venture capital; Further simplifying EU State aid rules to facilitate public funding of innovative projects including blending of EU and national funds.
  • Becoming a frontrunner in market-creating innovation: The Commission proposes to establish a full-scale European Innovation Council to offer a one-stop shop for high potential and breakthrough technologies, as well as for innovative companies with potential for scaling up. The European Innovation Council will build on the €2.7 billion pilot phase for the period 2018-2020, with the objective to help identify and scale up fast-moving, high-risk innovations with strong potential to create entirely new markets.
  • Launching EU-wide research and innovation missions with bold, ambitious goals and strong European added value in areas to be defined with Member States, stakeholders and citizens. These could range from the fight against cancer, to clean transport or plastic-free oceans. The missions will encourage investment and participation across sectors and scientific disciplines to jointly crack a challenge. They should create synergies with research and innovation strategies at Member State, regional and local level.

Background

With only 7% of the world’s population, Europe accounts for 20% of global R&D investment, produces one third of all high-quality scientific publications, and holds a world leading position in industrial sectors such as pharmaceuticals, chemicals, mechanical engineering and fashion.

Europe is relatively strong in adding or sustaining value for existing products, services and processes, known as incremental innovation. We have seen this in sectors as varied as space, aeronautics, pharmaceuticals, electronics, renewable energy, bio-based industries and advanced manufacturing. We have also taken strides forward in supporting innovation through Key Enabling Technologies, such as robotics, photonics, and biotechnology. These technologies can be used and applied across many industries and are crucial for addressing key societal challenges

But Europe is also lagging behind in many areas. EU companies spend less on innovation than their competitors (1.3% of GDP compared to 1.6% in China, 2% in the United States, 2.6% in Japan, or 3.3% in South Korea). Venture capital remains underdeveloped in Europe. In 2016, venture capitalists invested about €6.5 billion in the EU compared to €39.4 billion in the US, and VC funds in Europe are too small – €56 million on average compared to €156 million in the US. As a result, these companies move to ecosystems where they have better chances to grow fast. The EU is home to only 26 “Unicorn start-ups” (start-ups valued at over $1 billion) compared to 109 in the US and 59 in China. Public investment across the EU falls short of 3% GDP target, and R&D intensity is still uneven among EU regions, with investment and research heavily concentrated in Western Europe. And 40% of the workforce in Europe lacks the necessary digital skills.

Technology-driven innovation, digitisation and global megatrends such as artificial intelligence and the circular economy offer huge opportunities but also create new challenges. Global competition is intensifying and threatens Europe’s leading competitive position in key industrial sectors. Europe needs to deepen its innovation capability to maintain and improve the European way of life.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

Trump beats Clinton but Americans will learn the hard way that the US can’t change with an election

“Austerity was not the alternative!”, President Hannes Swoboda of the European Socialists and Democrats on another Sting Exclusive

Ukraine pays the price for lying between Russia and the EU

COP21 Breaking News: “We must accelerate the process”, Laurent Fabius cries out from Paris

Is the ECB ready to flood Eurozone with freshly printed money?

‘Internal security’ or how to compromise citizens’ rights and also make huge profits

Galileo and EGNOS programmes back in orbit powered with €70 billion

Mobile World Congress 2015 first to debate EU’s new stance on Net Neutrality and Roaming Charges

Google case: A turning point in competition rules enforcement

The UN supports Europe’s military action in Libya and the Mediterranean; Russia and China agree

A day in the life of a refugee: the wait

G20 LIVE: World Leaders in Turkey for G20 Summit. Global Economy will be discussed in Antalya

The issue of health literacy and how it affects European health policies

European Development Days 2013

‘Safe Eurobonds’: a new trick to betray the south euro area countries

What are the real targets of EU’s efforts to fight tax evasion?

Three countries losing ground and one new prime minister

“Only through energy policy we can trigger competitiveness”. The Sting live from #EBS2015: Energy Union – When will it happen?

UN-based World Summit Award (WSA) presents its master list on digital innovation with impact on society from 24 countries

The new Kiev rulers ask $35 billion from the West

Social inclusion: how much should young people hope from the EU? 

MWC 2016 LIVE: Ericsson/Cisco partnership on track, insist execs

Banking on sunshine: world added far more solar than fossil fuel power generating capacity in 2017

ECB’s trillion has to be printed and distributed fast before Armageddon comes

EU Commission: Once in every 20 beef meals you eat…horse probably with drugs in it

The European Sting writes down the history LIVE from G20 Leaders’ Summit in Turkey

The energy industry is changing. Are governments switched on?

Can the world take the risk of a new financial armageddon so that IMF doesn’t lose face towards Tsipras?

Germany and OSCE support an east-west dialogue in Ukraine without exclusions

Half the world’s population is still offline. Here’s why that matters

Robot inventors are on the rise. But are they welcomed by the patent system?

Travel the world, find yourself

Far from a healthy Health Workforce: lack of workforce planning leaves our citizens without access to proper care

The EU checks the multinationals for tax fraud but Britain may sail out of the EU via Panama

Close to final agreement on the EU Banking Union

AIESEC Vlog

Paris agreed with Berlin over a loose and ineffective banking union

In dreams and in love there are no impossibilities

Vulnerable young people must not be blamed & stigmatised for violent radicalisation

WEF Davos 2016 LIVE: Cameron corroborates that Britain should remain in the EU

EU attempts to make new deal with Turkey as relations deteriorate

Solitary Britain sides with US aggressing Russia and chooses hard Brexit

Why do medical students seek for work abroad?

Facilitating the access to finance and risk capital for SMEs and midcaps

The Ecofin deceives the SMEs with the EIB €10bn capital increase

The US banks drive the developing world to a catastrophe

Why is Grexit again in the news? Who is to pay for Eurozone’s banking problems?

The West cannot ignore Russia; dazed Germany sitting on the fence

Trump reshapes the Middle East at the expenses of Europe

Trump to subject the Fed, challenge the ECB and make Wall St. bankers even richer

Alexandre in Czech Republic

Apparently the EU Digital Single Market passes necessarily from China’s Digital Silk Road

EU Budgets: Europe hoping for Xmas gifts

At last a good price for the Greek debt!

EU: Turkey to shelter Syrian refugees and turn other immigrants back in return of €3 billion

Vote at 16 in Malta: next stop Europe

Earthquake: Monte Dei Paschi Di Siena

Greece will probably stay in the Eurozone but at what cost?

The ITU Telecom World on 14-17 November in Bangkok, Thailand

Summer pause gives time to rethink Eurozone’s problems

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s