Europe’s economic challenges and the importance of ideas and innovation

1 October 2014
Herman Van Rompuy (EPC President)

In the first article of this volume, Herman Van Rompuy argues that in a time of sweeping worldwide changes, Europe risks losing the competition race. He argues that the EU needs to focus on innovation, to turn ideas into real business and to develop digital technologies by addressing the problems regarding intellectual property, copyrights, market fragmentation, consumer protection, investment in infrastructure, venture capital for start-ups, and digital skills. Europe also needs to focus not only on reducing production costs, though that should be done for example regarding energy costs, but also on focusing on quality in all its shapes and guises: novelty, reliability, image, design, experience, durability.

The importance of ideas and innovation