European Commission report on future technologies

The latest Innovation Union Competitiveness Report published by the European Commission revealed that despite being a world leader in knowledge production, Europe still lags behind major competitors in the area of future technologies.

The bi-annual report covering 34 European countries suggests that almost one third of the world's science and technology production originates in Europe and that the EU is a science and technology leader in a number of crucial areas, including clean transport, aeronautics, waste management and automobiles.

Nevertheless, Europe faces competition from countries such as China or the USA, whose research and innovation activities are often more strategically oriented, thus leading to a situation where the EU risks falling behind in a number of emerging global growth markets, including biotechnology and health. In comparison, European research and innovation efforts tend to be less focused on strategic areas and are scattered on a wider range of scientific fields and technologies, thus creating the risk of dominating none of them.

The report recommends that Europe, as a knowledge economy, be based on high value added goods and services in order to remain competitive and enjoy sustained growth.