More strategic high-tech investment required

Europe remains a main knowledge production centre of the world, but lags behind North America and Asia in fast growing technologies of the future, according to the latest Innovation Union Competitiveness Report published.

While Europe continues to lead science and technology in the fields of aeronautics, automobiles, clean transport, waste management and renewable energy, the report shows that it risks falling behind in other emerging global growth markets such as health and biotechnology.

European Commissioner for Research, Innovation and Science, Máire Geoghegan-Quinn, said: “This report rightly highlights Europe’s leadership in many key industries, but again pinpoints growing gaps in some key sectors for the future. We cannot afford to fall behind. This is why Horizon 2020 will support industrial leadership in key technologies as well as fundamental and challenge-based research.”

In 2011, more than 70% of the world’s knowledge creation took place outside the EU, and half of the world’s scientists and engineers lived outside the EU, US and Japan. The EU accounts for almost a third of the world’s science and technology production

Science and technology development in Asia and in the United States is often more strategic and focused on transformative technologies oriented toward emerging global markets. The EU’s technology assets are more focused on established and traditional industries.