From R&D to Market Entry: What is Missing in the Race for Innovation to Foster European Champions?
6 May 2019
11:00 - 12:30
EU Commissioner for Research, Science and Innovation
VP Procurement & Sustainability Europe
The Wall Street Journal
Brussels Bureau Chief
Åshild Hanne Larsen
The technology-based sector has become the driving force of innovation. Developing artificial intelligence could alone result in an estimated 2.7 trillion euros economic output by 2030. Europe is on the right track to maximise the benefits of its innovative capacity as top scientists, inventors and talent come from Europe ; however it fails to transform start-ups or retain growing champions in Europe. Most ‘unicorn’ companies reside in the United-States and in China. Europe must address this mismatch as economic prosperity depends on its capacity to innovate.
To propel Europe’s leadership the following questions must be considered:
- Scaling-up : How to facilitate and follow through start-ups to greater scale European champions?
- How to further protect investment and limit financial risk-taking ?
- How to facilitate contact between investors and start-ups ?
- Stock-options – what isn’t working ?