Innovation will make Europe competitive and resilient. Following the 1st European Innovation Days in Silicon Valley: more than a reality!

More than three years have passed since I took office as EU Commissioner for Innovation, and just over a year since the New European Innovation Agenda was unveiled. Throughout this time, I've travelled extensively throughout Europe and the rest of the world and met with a wide variety of stakeholders and leaders. Following my return from Silicon Valley this week, after a first mission in September 2022, I'd like to share some thoughts on the bright future I see for Europe with regard to innovation as a major enabler for competitiveness and resilience.

First European Innovation Days in Silicon Valley: Mission accomplished!

Last week, I opened the first "European Innovation Days" in Silicon Valley. The goal was to get US startups and investors interested in Europe. I was accompanied by a delegation of more than 50 people, including CEOs of industries, university rectors, mayors and regional authorities, founders of unicorns, and investors.

We were successful in getting innovators and investors in the United States to know about the business opportunities in Europe. We reached out to founders who want to open a startup in Europe as well as to experts who are interested in working for European companies or academic institutions. 

To help people who wish to establish and develop deep tech innovation firms in Europe, we have established the EU Innovation Talent Platform. This site will be a one-stop shop for innovators moving to Europe.

Leading in industrial innovation: The EU and the US as equal partners in deep tech innovations. 

As set out by the New European Innovation Agenda, we want to position Europe as a global powerhouse for deep tech innovation. When it comes to innovations with hardware and/or biological components, Europe is a reliable partner on the same level as Silicon Valley. This is based in particular on industries such as construction, agriculture, engineering, energy, aerospace, and transportation. 

Europe's secret power: a new ecosystem based on a decentralised regional strategy in which startup companies, investors, and established businesses and institutions work together.

I am convinced that our strength comes from the multiple, specialised innovation ecosystems that are dispersed throughout EU regions, and the collaboration between established companies and startups. 

In order to be innovative in hardware and biology, you need a wide range of skills, such as those of engineers, scientists, software developers, and marketing experts. A pool of talent, and also of investors, that must be specialised for each industrial sector. These skills and talents are dispersed throughout Europe's many regional innovation ecosystems. And one could say that the concentration of talent and finance in a single area is effective for digital innovation but not for deep tech innovation.

We want to achieve the contrary: building stronger and specialised regional innovation ecosystems!

The 100 Regional Innovation Valleys, announced in the New European Innovation Agenda, will add to the diversity of existing ecosystems. On last Tuesday, we announced the call for expression of interest for regions and cities interested to join this journey!

Furthermore, deep tech innovations in fields like agriculture, energy, and manufacturing must cope with incumbents and regulations that safeguard people and corporations alike. This is why European innovation ecosystems consist of both established companies and governmental organisations at the forefront of their respective fields, in addition to startups and investors. Europe provides the ideal environment for deep technology innovators to flourish with its sandboxes and experimental facilities.

We'll catch up in Silicon Valley in October. The story goes on...

In October, another mission to the Bay Area is being planned. Always with the objective to deepen the ties between the EU and US innovation ecosystems, by facilitating the flow of capital and people back and forth. 

The next mission will focus on certain industries where Europe is strong, with the goal of getting US investors and talent to join the EU's deep tech innovation ecosystem. And we will not restrict our outreach to Silicon Valley alone; we will also reach out to other innovation hubs in the United States, such as Austin, Texas. Stay tuned!