Go back

EU ‘losing ground on innovation’

The EU is not spending enough on research and innovation to keep pace with its global competitors, the European Investment Bank has cautioned.

EU spending on R&D has risen very slightly in the past year, but remains essentially stuck at about 2 per cent of GDP, the EIB said in a report published on 28 November. The bloc would need to spend an additional €140 billion each year to meet its target of spending 3 per cent of GDP on R&D by 2020, it found.

“The EU is losing ground on innovation,” the report warned, in particular because of low business spending on R&D. EU companies are not spending enough on R&D, other intangibles, or even equipment to stay globally competitive, the report said.

This article on Research Professional News is only available to Research Professional or Pivot-RP users.

Research Professional users can log in and view the article via this link

Pivot-RP users can log in and view the article via this link.