Mind the innovation gap
This week, the state of European tech and innovation has been discussed across media outlets and Brussels offices through the lens of the EU competitiveness report by the former Italian PM Mario Draghi. Commissioned by Ursula von der Leyen, the document outlines the issues the bloc is facing and provides a set of recommendations on 400-odd pages.
The tech ecosystem became an important focal point for Draghi, as he warned the Commission that significant additional investment would be required to support the sector’s competitiveness.
The report paints a picture that’s familiar to anyone who’s been watching the European tech landscape for a while, with a mandatory mention of the fact that only four out of 50 of the world’s top tech companies are based on this side of the Atlantic.
According to the report, closing the “innovation gap” between our continent and the US and China would require an additional public and private investment to the tune of €200bn. It’d also see the European Innovation Council (EIC) transformed into an “ARPA-type of agency.”
Although I’ve seen?certain pushback on the sustainability part of the report, the tech part doesn’t appear to be divisive at all. Ecosystem stakeholders seemingly agree with the findings; the question is, of course, to what extent the Commission will take them to heart during its upcoming five-year term.
We’ll have the first glimpse of how things may pan out next week, as Von der Leyen will reveal the new commissioners. Shortly after, she’s expected to issue and publish so-called mission letters to each of the commissioners, detailing her vision for their portfolio.
In the meantime, do check out this piece by Ioanna Lykiardopoulou with more details on the tech-related part of the Draghi report. ??
Andrii Degeler Head of Media, TNW
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