On Thursday 27 June, the European Commission published the 2024 edition of its report on science, research and innovation performance in Europe (SRIP). The report points out that over the last two years, EU investment in R&I has increased, but the level of investment is still far from the European target of 3% of GDP dedicated to R&I.
The report also identifies other EU weaknesses and strengths in R&I. In particular, it highlights the fact that the EU ranks well in the world in terms of scientific output, surpassed only by China. It has a worldwide share of 10% of the most cited publications.
Overall, the EU’s knowledge base is characterised by a relatively higher degree of diversification in innovation than that of other innovators worldwide. However, the EU is less specialised in key productivity-enhancing technologies than China and the United States.
In terms of private investment in innovative companies, the report also indicates that the venture capital market in Europe is limited compared to other regions of the world.
The report highlights three challenges for R&I in Europe. Firstly, the EU needs to make better use of its R&I ecosystems. There is also a persistent divide in R&I performance across the EU, between Northern and Western Europe on the one hand, where highly innovative ecosystems are concentrated, and Southern and Eastern Europe on the other.
A chapter of the report is also devoted to research and development (R&D) in defence and security. In 2022, the EU allocated 1.5% of its gross domestic product (GDP) to defence spending and 0.4% of its GDP to defence investments (equipment and R&D). The report points out that defence investment is mainly focused on equipment procurement rather than R&D, and that the EU focuses on the later stages of defence technology development rather than on fundamental research and the technology testing phase.
The authors of the document recommend, among other things, bridging the gap between civil and military R&D, so that the EU can fully exploit the potential of dual-use technologies and maximise the potential of technological investments.
Link to the report: https://aeur.eu/f/cuc (Original version in French by Émilie Vanderhulst)