Illustration: Colourbox

EuroTech Universities' professors on how to make Europe more innovative

Wednesday 01 Jun 16

EuroTech Universities

The Alliance is a strategic partnership of four leading European universities of science & technology:

  • Technical University of Denmark (DTU)
  • Ecole Polytechnique Fédérale de Lausanne (EPFL)
  • Eindhoven University of Technology (TU/e)
  • Technical University of Munich (TUM).

The EuroTech Universities cover the entire value chain from entrepreneurship and innovation-related knowledge generation, awareness-raising, education and training of students and scientists to patent applications, international business development, and investment in start-ups. The EuroTech Universities Alliance is a unique framework to exchange and promote innovation & entrepreneurship activities across borders and has defined Entrepreneurship & Innovation as one of its key focus areas for strategic collaboration.

 

Over the past weeks, fourteen professors from the field of innovation and entrepreneurship from the four EuroTech Universities have analysed what is needed to make Europe more innovative.

The outcome, a discussion paper on “The Future of the EU as an Inclusive and Sustainable Innovative Economy”, is now presented to selected representatives from across several Directorate Generals of the European Commission as well as the European Research Council and the European Investment Bank.

According to the professors, five conditions will enable the EU to become the leading economy in the world by capitalizing on its distributed and inclusive nature as well as exploiting its potential for breakthrough innovations:

1. transforming the educational and research landscape by transferring funds from institutes entirely focused on research to universities that systematically connect research and education;

2. creating an ideal setting for young entrepreneurs and their innovative companies to enable a virtuous cycle of new (academic) ideas, creating start-ups, scaling them up, and demand for and supply of investment capital;

3. transforming the highly fragmented landscape of national tax systems into a simple and transparent tax system that fuels rather than inhibits innovation and growth;

4. Crafting a well-functioning patent system and market for technology to ensure appropriate rewards and incentives for innovators in the age of open innovation;

5. Building and mobilizing local innovation ecologies, especially those in less-advanced regions, through smart specialization.

Download the discussion paper.