- 16 July, 2018
- Posted by: partners
- Category: News
The Commission’s European table of innovation indicators for 2018 is published on an annual basis and shows that the EU’s innovation performance continues to improve, although more efforts are needed to ensure Europe’s competitiveness on a global scale.
Each year, the European Commission publishes a comparative evaluation of the results obtained by the Member States in terms of innovation, as well as the corresponding benchmarks with their international competitors. . It analyzes the strengths and weaknesses of national research and innovation systems, which helps countries to assess those areas where they need to improve their innovation performance and the EU as a whole to evaluate in which areas it is necessary to concentrate efforts.
In the words of the Commissioner for the Internal Market, Industry, Entrepreneurship and SMEs Elżbieta Bieńkowska: “The scoreboard of 2018 shows once again that talent and entrepreneurial spirit abound in Europe, although we must improve to transform this excellence into success. The EU, the Member States, the regions and the industry, including our many SMEs, must work together to increase efficiency in the allocation of resources in our economy, improve the functioning of the internal market and help ensure that Europe remains at international vanguard of innovation ».
For his part, Carlos Moedas, Commissioner of Research, Science and Innovation, after the publication of the data showed that: “Although Europe is strong in the scientific field, its results in terms of innovation are less than desirable. The renewed agenda for research and innovation establishes a series of measures for Europe to become a world leader in innovation. Our proposals for Horizon Europe, the next research and innovation program of the EU, will accelerate innovation throughout the value chain and support the identification and extension of revolutionary innovations. ”
In the 2018 edition of the European table of innovation indicators there is a positive trend in most of the EU countries, and especially in Malta, the Netherlands and Spain, while Sweden continues to lead the EU in innovation . The EU is narrowing its gap with key competitors such as Canada, Japan and the United States, but to close the innovation gap and maintain the advantage over China, a concerted effort will be necessary to reinforce Europe’s innovative potential to become in the engine of global innovation.
To contribute to Europe’s global leadership in the field of innovation, the Commission proposed, at the beginning of June, the EU’s most ambitious research and innovation funding program to date, Horizon Europe, with an endowment budget of € 100 billion for the period 2021-2027. However, EU funding alone will not suffice; To maintain and improve the European way of life, a concerted effort between the public and private sectors is necessary.
Below we list the main conclusions drawn from the European table of indicators for innovation in 2018:
Sweden once again leads the EU in innovation, followed by Denmark, Finland, the Netherlands and the United Kingdom, plus Luxembourg, which joins the group of leading innovation countries this year, while Germany moves to the group of strong innovators.
On average, the EU’s innovation performance has improved by 5.8% since 2010. The results have improved especially in Lithuania, Malta, the Netherlands and the United Kingdom, while they have worsened especially in Cyprus and Romania .
On a global scale, the EU is reducing its distance with Canada, Japan and the United States. The EU maintains its advantage with respect to China, but this advantage is decreasing rapidly, since the results of this country have improved at a rate that almost triples that of the EU. With regard to South Korea, the EU has lagged behind, but is expected to gradually reach it in the coming years.
Public expenditure on R & D as a percentage of GDP is still below its 2010 level.
In the next two years, the EU’s overall innovation performance is expected to improve by 6%.
Among these data, it is worth noting that with only 7% of the world population, Europe represents 20% of total R & D investment, is responsible for one third of high quality scientific publications and holds the world leadership in sectors industrialists such as the pharmacist, the chemist, mechanical engineering and fashion. Europe also stands out in innovation aid through essential facilitating technologies, such as photonics and biotechnology.
However, Europe lags behind in many areas. EU companies spend less on innovation than their competitors. Venture capital remains underdeveloped in Europe and, therefore, companies move to the ecosystems where they are most likely to grow rapidly. Public investment across the EU does not reach the target of 3% of GDP.
News taken from the Press Release published on the EC website (link)
More information: https://ec.europa.eu/growth/industry/innovation/facts-figures/scoreboards_en