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
领英推荐
What else we’re writing about
??? In this week's podcast, Linnea and Andrii talk about quantum accelerators, major job cuts at WeTransfer, a planet that never was, and a few things in between. You’ll also hear an on-stage interview with Lee Taylor, CFO of OnlyFans.
?? The inventor of the world wide web, Tim Berners-Lee, believes digital wallets can revive his founding vision: a free and open internet.
?? This Swedish startup wants to pay the flight tracking community using blockchain. And it just landed a $3.5mn seed round.
?? The UK could be home to a ‘quantum Nvidia’, says algorithm startup. But the industry needs funding certainty and innovation-friendly regulation.
?? In two cases, the EU’s Court of Justice ruled in favour of back taxes and fines against Apple and Google totalling €15.4bn, a major victory in the bloc’s ongoing battle with big tech.?
Sponsored by TNW Conference
Booking.com, Estée Lauder, Vinted, and much more
Take a coffee break and sit down to watch the leaders of some of the biggest powerhouse brands in the world chat to us on the TNW Conference stage. These talks are set to give you valuable insights about industry giants as they delve into what's coming up next in tech!
Ready to get a ticket for next year's conference? Use the 30% media friends code: TNWXMEDIA2025.