Innovation ecosystem of the EU-27 EU US

Nonetheless, there is data and research that demonstrates that the EU’s strategic innovation agenda is lagging behind that of other regions, in particular the United States (US) and China. The level of public and private investment in comparatively low in the EU compared with the US and China (see Figure 1a and 1b). As noted by the FUTURINNOV project, a collaboration between the European Innovation Council (EIC) and the Joint Research Centre of the European Commission (JRC), private investment is important not only for meeting financial needs, but also securing business and market expertise. The gap in venture capital investment between the EU and the US increases with the maturity of a company.