Terence Persaud’s Post

Euro Zone competitiveness needs a spark Is the Euro Zone ready for a tech transformation? I think so. 🇪🇺🚀 The recently released European Union Competitiveness Report by former Italian Prime Minister Mario Draghi highlights an urgent need for action. As CEO of Jolera, I’m now based in Porto, Portugal, because I believe in the growth of the Euro Zone for the company. This report resonated deeply with me, especially regarding security and innovation. The EU's strategy? Focus on closing the technology productivity gap with the U.S. and China, with security, artificial intelligence, and clean technology at the forefront. 🔐⚡ Here's what stands out: 📊 The 400-page Draghi report underscores challenges like European common debt, China's rise, and a lack of tech innovation. 💡 Draghi calls for more venture capital and investments in high-risk projects to boost growth. 🔧 Regulation stifles innovation, forcing European tech unicorns to relocate for scaling opportunities. I was encouraged by the Euro Zone’s willingness to increase its investment in security. Currently they are dependent on a small number of vendors. Developing more security vendors in Europe would dramatically improve the area’s overall competitiveness. The key takeaway? 🚨 Europe must cut the red tape and fuel its tech ambitions to lead, not follow. This report could be the spark Europe needs to unleash a wave of new policies and innovation. #EU #Eurozone #Innovation

Mario Draghi's recent report on "The Future of European Competitiveness" highlights the critical challenges that Europe faces, especially in comparison to the USA and the growing threat posed by China. Here are the bleak takeaways: 1️⃣ Innovation Gap Alert: The report underscores a significant innovation gap in Europe when compared to the USA, which totally outpaces technological advancements. While American companies push the boundaries of innovation, Europe risks being left behind, especially as China ramps up its investment in research and development, threatening to overtake not just Europe, but even the USA in various sectors. 2️⃣ Tech Divide Reality Check: Europe experiences a notable tech divide, where young innovators often struggle to access the same level of resources and support that their counterparts in the USA do. Moreover, China's rapid technology development—bolstered by significant government support—poses a formidable challenge. European nations must urgently address this divide if they wish to nurture their emerging tech talent effectively. 3️⃣ Policy Reform Needed: Draghi’s critique of current European policies reflects a need for reform, especially in light of the more adaptable regulatory environment found in the USA. While the US promotes quick innovation and entrepreneurship, China's state-driven approach aggressively accelerates technological advancements, leaving Europe at a disadvantage. It's essential for Europe to reform its policies to foster an entrepreneurial ecosystem that can compete on the global stage. 4️⃣ Collaboration is Key: The report emphasizes the need for enhanced collaboration among governments, businesses, and educational institutions in Europe. Unfortunately, Europe struggles to match the collaborative efforts that lead to significant technological breakthroughs in the USA. At the same time, China's ability to mobilize its resources quickly towards large-scale projects highlights the need for Europe to unify its approach to innovation and competitiveness. 5️⃣ Future at Stake: If innovation does not become a priority, Europe risks falling significantly behind both powers. Draghi's report is a crucial wake-up call for Europe, emphasizing the urgency to confront not only the competitive strategies of the USA but also the looming challenge from China. #EuropeanCompetitiveness #Innovation #TechLeaders #MarioDraghi #USComparison #ChinaChallenge Link to report: https://lnkd.in/eRpZARtJ

Today's Draghi report on European competitiveness offers an insight into where the European tech sector stands when it says: "Europe is stuck in a static industrial structure with few new companies rising up to disrupt existing industries or develop new growth engines. In fact, there is no EU company with a market capitalisation over EUR 100 billion that has been set up from scratch in the last fifty years, while all six US companies with a valuation above EUR 1 trillion have been created in this period. This lack of dynamism is self-fulfilling." I don't believe that we lack dynamism but we do lack the infrastructure to achieve true break-outs. https://lnkd.in/e46pgS8t

These latest comments from Mario Draghi will hopefully resonate with the right policy makers in Europe. His emphasis on removing barriers to the development of research institutions and innovative businesses is crucial. By calling for Europe's growth and innovative potential to be harnessed, Draghi is championing a future in which the continent can remain a world leader in innovation. These words will hopefully inspire decision makers to create the necessary environment to foster talent and innovation and ensure that Europe does not bureaucratically hinder its own potential, but actively and straightforwardly promotes it. https://lnkd.in/dY5tihAh

🇪🇺 Europe is at a critical crossroads in terms of competitiveness. In this context, Mario Draghi has laid out an urgent plan to tackle Europe’s competitiveness gap with the U.S. and China. He suggests a €800 billion annual investment to drive innovation and transform the continent's digital and green economies in order to avoid the risk of falling further behind. The plan includes the following key recommendations: 💡 Emphasize large-scale investments to modernize infrastructure and foster innovation, in particular in terms of clean energy, advanced tech, and resilient supply chains 💡 Unite and pool resources for transformative projects like the proposed European Competitiveness Fund 💡 Strengthen the venture capital ecosystem and reduce bureaucracy for startup for turning European innovation into market success, leaving therefore more room to bold ideas 💡 Revisit trade and competition rules to create European champions in key sectors, while still caring to preserve competition within the single market 🤔 Can Europe align politically to implement this ambitious plan? The cost is high, but the stakes are higher. #Innovation #Competitiveness #Europe #Economy #Investment #MarioDraghi #Leadership #DigitalTransformation #Sustainability #VentureCapital #Startup #EconomicGrowth

🚀 Europe is at a crossroads: innovate or succumb. Mario Draghi launches an ambitious plan to bring the Old Continent back to the center of global competition. The numbers speak for themselves: real disposable income per capita has grown twice as fast in the US as in the EU since 2000. We can no longer afford to stall. ✅ Three key pillars for revitalization: - Closing the gap in digital innovation and AI - Combining decarbonization and competitiveness - Strengthening security and reducing strategic dependencies ⚡️ The challenge is titanic: Investment comparable to the Marshall Plan is needed, with a 5 percent increase in GDP from current levels. 💡 The bottom line? Europe does not lack ideas or ambition, but the ability to turn innovation into scalable business. Too many European entrepreneurs end up seeking funding in the United States. 🤔 How can we retain our talent and create a truly European innovation ecosystem? #Europe #Innovation #Leadership #Competitiveness #FutureEurope

Singapore and Canada have agreed to bolster bilateral cooperation in science, technology, and innovation, focusing on AI, biotechnology, and green technologies. During his visit to Ottawa, Singapore’s Minister for Trade and Industry, Gan Kim Yong, met with his Canadian counterpart, Mary Ng, to discuss collaboration opportunities. Both countries, ranked among the top 15 in the Global Innovation Index, aim to explore joint research, talent exchanges, and partnerships, particularly in green economy initiatives. They will establish bilateral consultation mechanisms to identify opportunities and coordinate activities. The collaboration is based on four principles: recognizing the role of science and technology in economic growth, acknowledging their global leadership in research and innovation, promoting mutually beneficial cooperation, and strengthening capabilities for innovation and market growth. Gan emphasized the longstanding partnership between the two countries, while Ng highlighted their growing economic ties. The collaboration extends beyond economic realms to cybersecurity, education, defense, and more. Gan assured Ng of Singapore's commitment to being a regional gateway for Canadian companies. Both ministers expressed confidence in the friendship between the two countries as a solid foundation for future collaboration. #Growth #Trade #Economy #AI #Canada #Singapore #Sustainability #DigitalEconomy #Innovation #Friendship I The Business Times I SPH Media I Sharon See

Effective partnerships between the state and business can significantly impact economic development, job creation, and innovation breakthroughs. Many countries are already leveraging such collaborations to address strategic challenges, and their successful examples can inspire Ukraine. One notable example is the "Silicon Valley" initiative in the United States, where partnerships between the government and technology companies laid the foundation for the country’s global leadership in technology. The government supported the development of innovative infrastructure, allowing businesses to scale their projects, resulting in the explosive growth of the innovation-driven economy. This partnership strengthened the U.S.'s position in the global market and created millions of jobs in the tech sector. The "Green Deal" in the European Union is another successful example of collaboration between the state and business. With government support and funding, companies can implement environmentally friendly technologies, reducing their carbon footprint while boosting market competitiveness. This example illustrates how businesses can simultaneously address social and economic challenges with strategic state support. In Singapore, partnerships between the government and businesses have laid the groundwork for advanced financial technology development. The government actively supports fintech startups, offering funding, favorable business conditions, and regulatory support. Thanks to this, Singapore has become a hub for financial innovation in Asia, stimulating both the domestic market and attracting foreign investors. Examples of these partnerships for Ukraine are highly relevant, as they demonstrate how strategic state support can create an environment for business innovation and economic growth. #BusinessAndGovernment #Innovation #SuccessStories #EconomicDevelopment

MEXICO 🇲🇽 AND SWITZERLAND 🇨🇭 ARE SHARING GREAT OPPORTUNITIES 🎯Mexico is an attractive market with the second-largest economy in Latin America, a population of 120 million, and a fast growing middle class. It offers a range of industries such as manufacturing, automotive, aerospace, energy, and tourism. Additional opportunities have been created with highly qualified engineers in technology. Its proximity to the US and access to 480 million inhabitants between Mexico, United States of America and Canada, makes it a strategic location for businesses. 🎯Mexico also benefits from over 50 trade agreements, competitive labor costs, and favorable operating expenses including real estate, taxes, and administration. The country's stable exchange rate further adds to its appeal for investment. 🎯On the other hand, Switzerland is an important investment partner for Mexico, ranking 11th in terms of investment. Switzerland offers a solid financial sector, political, economic, and social stability, and a stable exchange rate. It also provides cheap financing rates, available venture capital, and extensive experience and knowledge in the financial sector. Moreover, Switzerland serves as a gateway to the European Union, opening up opportunities for businesses to expand their reach. 🎯Both Mexico and Switzerland share a strong work ethic, emphasizing quality, efficiency, and professionalism. This common focus on excellence further enhances the potential for successful partnerships between the two countries. 🎯🎯🎯Before embarking on any investment endeavors, it is crucial to conduct proper due diligence and establish the right partners in both Switzerland and Mexico. By doing so, businesses can ensure a smooth execution and maximize the benefits of investing in these attractive markets.

These statements by Mario Draghi in his recent report are alarming and should prompt those of us who have chosen to live in Europe to consider how we can act to change the situation: “The core problem in Europe is that new companies with new technologies are not rising in our economy. In fact, there is no EU company with a market capitalisation over EUR 100 billion that has been set up from scratch in the last fifty years. All six US companies with valuations above EUR 1 trillion have been created in that period of time…. And these figures do not include the many young, talented Europeans who go to study in the United States and found their companies there. It is a huge loss for our economy in terms of jobs and brain drain. The innovation gap is at the root of Europe’s slowing productivity growth relative to the US. So, we must bring innovation back to Europe – and the report proposes to do so through reforming the whole innovation ecosystem. It starts with establishing our universities and research institutions at the frontier of academic excellence, and making it easier for researchers to commercialise their ideas. Only about one-third of the patented inventions registered by European universities are commercially exploited”