The European Union remains a powerful global player in terms of scientific production and technological results. However, its position is gradually eroding as the EU’s major trading partners improve their innovation performance at a faster pace in recent years.
This follows from the 2022 edition of the new Science, Research and Innovation Performance of the EU (SRIP) report published by the European Commission, which analyzes the performance of EU in the field of innovation in a global context.
Despite making up just 6% of the world’s population, the EU accounts for around 18% of global Research and Development (R&D) investment and 21% of the world’s leading scientific publications. In terms of technological output, the EU is the world leader in the climate sector, with 23% of all patent applications. The EU also contributes significantly to other areas, such as the bioeconomy (23%) and health (17%).
R&D investment in the EU fell during the crisis, and there are significant differences between sectors. The top EU R&D investors in health and Information and Communications Technology (ICT) services increased their R&D investment between 2019 and 2020 (by 10.3% and 7.2%, respectively), but the top R&D investors of the EU in other sectors reduced their R&D investments during the crisis, such as in the sectors of ICT providers (-3.6%), chemicals (-3.7%), automotive (-7.2% ) and aerospace (-22.6%).
The report also points out that the coronavirus pandemic and the Russian invasion of Ukraine have demonstrated that Europe must strengthen its readiness to react quickly and adequately to new, unpredictable challenges. It also warns that the decline in business dynamism in the EU will have an impact on innovation and economic growth.
The report argues that improving the EU’s business environment and innovation capacity requires a renewed determination to tackle long-standing issues such as weaknesses in access to finance, regulatory frameworks that are not conducive to innovation, the continuing gap between high-performing firms and queues and the difficulty of attracting and retaining talent. These issues will be addressed by the new European innovation agenda.
SOURCE: AMPE
Source: Capital
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