Science, research and innovation performance of the EU
On the 20th of February, the European Commission published a report on the benefits of research and innovation for EU’s prosperity and social model.
The report proves that Europe is a global leader in scientific excellence (nearly one third of all high-quality scientific publications worldwide are European), in terms of public investment in research and innovation (23%), and in the number of researchers. But it also highlights its weaknesses in transforming this excellence into innovation and entrepreneurship leadership.
To address this gap, the Report points out a number of actions the EU needs to adopt to become a frontrunner in innovation:
- prioritise innovation investment both in national and EU budgets;
- introduce new approaches to innovation support that can maximise the impacts of public investment and leverage more private innovation investment, notably by adopting a mission oriented approach that sets the direction of public investment and reconnects science and innovation with citizens; and supporting the identification and scale-up of breakthrough market creating innovations;
- adapt regulatory frameworks to incentivise innovation, by ensuring that new regulation assesses its full impact on innovation while minimising regulatory uncertainty for innovators; and
- foster innovation-friendly business environment, by fulfilling the European Single Market and supporting reforms that improve the functioning of markets.
Source: European Commission
In: Growth & Competitiveness, Research & Innovation