R&D and Innovation: Putting innovation at the heart of the twin transitions and the EU recovery
Published: 24 June 2021
Policies & Issues: R&D and Innovation
Orgalim’s proposal for the way forward for sustainable and smart technology industries
The COVID-19 pandemic has had a significant impact on Europe's competitiveness. Although it is difficult at present to know how lasting and far-reaching the effects will be, it is already clear that the outbreak of COVID-19 has radically changed the conditions for conducting business and has revealed vulnerabilities in existing value and supply chains. On the other hand, the crisis has shown the power of innovation, technology, and the importance of having competitive and resilient industrial companies.
As outlined in Orgalim's 2021 Spring economic report, European technology industries are showing positive signs of recovery. However, the crisis is far from over. The unprecedented financial injection that has been put forward to boost the European economy gives us an opportunity to increase the pace of the green and digital transitions. European technology industries play a key role in the successful rollout of the twin transitions and in pursuing global leadership in their implementation, particularly as Europe is striving to become climate-neutral by 2050.
Achieving this goal will require continued investment in research and innovation, together with an innovation-friendly regulatory framework that enables innovative solutions to reach the market. A well-functioning Single Market is of the utmost importance for European companies and a prerequisite for Europe's global competitiveness. To foster industry and business’s renewal and sustainable growth and to make Europe more attractive for investments and talent, the European Union’s approach to innovation needs to be an integral part of its industrial strategy.
To read our recommendations in full, please download the document above.
Adviser - Internal Market and Innovation