Since European tech companies have been catching up with their US competitors, European political leaders have begun to express new ambitions for homegrown tech sectors, in line with Europe’s trend of geopolitical self-assertion, notably with respect to the US and China. In this Policy Brief by the Bertelsmann Foundation, Jake Benford, Frank Eich et al argue that Europe would do well to adopt its own approach to fostering innovation, by harnessing its creative powers to develop solutions to social and ecological challenges. European public funds strategically channeled into the biotech-sector to create a COVID-19 vaccine are the most obvious example of a “purpose-driven” approach to fostering innovation. They conclude that while the instruments for such a paradigm-shift are in place, more will be required for the EU to make the best, not just the most, of innovation in Europe.
https://www.bertelsmann-stiftung.de/fileadmin/files/BSt/Publikationen/GrauePublikationen/EU_Startup_Policy_Brief_final_14.1.21.pdf

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