Select EU as an innovation hub EU as an innovation hub

The EU has been and continues to be a successful research union. However, with international competition intensifying, Europe’s performance is improving at a slower pace than that of our key global competitors.

Currently, our investment in research and innovation stands at 2.2% of GDP – significantly lower than the US (3.4%) and China (2.4%). This widening gap has turned into a critical challenge with long-term negative implications for the EU’s competitiveness. Creating an attractive climate for investment and innovation in Europe must be a top priority in the coming years.

Source: World Intellectual Property Organization