Harnessing the technologies of tomorrow to achieve a green and digital recovery
As a first step, the EU is rightfully betting big on tech innovation and connectivity infrastructure. While undertaking efforts to speed up 5G rollout in Europe, the Commission should also aim to preserve the EU and EU industry’s leading role in the development of key technologies such as 5G/6G, AI and machine learning, as these will pave the way towards a twin transition to meet the 2030 green and digital goals.
Why focus on connectivity innovation? Looking at 5G alone, the latest Analysis Mason Report shows that there is a potential € 210 billion return on a € 46 billion investment in Europe. This will open a host of new opportunities as the mobility, energy grids and factories of the future will all be reliant on these technologies. Clearly, there’s gold to be found in these connectivity infrastructure hills.
The added benefit of these technological investments and innovations is that they also fall in line with the EU’s green goals. Most importantly, the capacity to deliver lower emissions, waste and energy usage. The resulting climate-friendly tech investment opportunities are exactly what the EU needs to deliver on its 2030 targets.
As President von der Leyen fires the starting pistol on this transition, a plethora of resourceful and innovative ICT companies has been preparing and innovating to meet the ambitious goals of 2030. They now stand at the race line, ready to fast track the EU’s Digital Decade.
Strong technological innovation in Europe needs strong intellectual property protection
Investment promises alone will not be enough to propel the EU into its Digital Decade. The right IPR framework needs to be in place to enable the needed era-defining technological progress.
European tech companies may be globally recognized drivers of key technologies but they – and their inventors – need fair rewards to keep pushing the limits of innovation and R&D work. Thanks to its existing strong IPR framework, the EU has managed in the last decades to foster and retain a highly-skilled R&D workforce, but this should not be taken for granted.
Making Europe globally competitive is not just a job for big ICT players. SMEs make up 99% of businesses in the region but – despite a host of studies linking IP to stronger business growth and financial benefits – many still struggle to leverage intangible assets like IP. Efforts to facilitate the uptake of IP for micro and small enterprises, such as the measures announced in the European Commission’s IP Action Plan, are encouraging.
As the Commission President alluded to in her speech at the 2021 Digital Assembly, another key factor in assuring the region’s technological competitiveness is the continued involvement of European companies in the shaping of new standardized technologies like 5G. Through organizations such as 3GPP, European ICT companies have already been instrumental in establishing global standards that enable a host of new products and services to be used seamlessly across the globe.
With the combination of a strong IPR framework and a leading role in the development of key technologies, European tech companies will be at the forefront of tech innovation and will forge the success of the digital transformation.
Innovation and IPR: is it enough?
As the Digital Decade begins, the EU institutions and tech companies have a monumental challenge in front of them: delivering a long-lasting recovery and transformation that is sustainable, digital and global. The targets set for 2030 are ambitious and the road ahead is long. In addition to the European Commission, both the European Parliament, through the ongoing discussions on its own-initiative report on ‘strengthening IPR protection for a more competitive and resilient Europe’, and the European Council, with the upcoming Slovenian Presidency, are in a unique position to create a resilient, successful and competitive Europe. As long as this framework-for-innovation is ensured, there’s no doubts that Europe will be set for success.
