Innovation Made in Europe
Setting the foundation for future competitiveness
Historically, Europe was the birthplace of some of the 19th and 20th century’s most extraordinary innovations. Today it is home to numerous top-drawer science-led universities and world class companies in various industrial sectors. However, nowadays the transition from idea to viable business is happening less efficiently than elsewhere. Europe is punching below its weight – what can be done to regain its innovation lead?
In this section of our website, ERT shares insights on policy choices that are the building blocks to creating a more innovation-friendly environment across the EU-27 and stories from over 30 CEOs & Chairs of European companies, outlining where Europe needs to improve the business case for innovation made in Europe.
Rarely before has innovation been so important. Europe's competitiveness has been on a downslide for quite a while. The reasons for this are largely home-made. Now additional pressures arise from renewed geopolitical uncertainty, the energy market implications of Russia's war in Ukraine and the attraction of business to the US, as a result of the US Inflation Reduction Act. This flagship paper sets out ERT Members' views on where Europe can and has to do better to remain an innovative powerhouse, a leading industrial base and a prosperous continent.
The three ERT Priority Messages highlight actions that are essential for boosting innovation made in Europe. Together they will create the dynamics needed to encourage innovation, and to do so with a lasting impact.
At a more detailed level, other factors also play a role. For more explanations on some aspects and related suggestions, please refer to our website.
- Rethink Regulation Political goals and supporting policyframeworks must create a pull for investment in innovation.
- Re-focus on robust intellectual property rights and international standardisation
- Realise the scale-up of investment-intensive innovation