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What ails Europe’s innovation machine? Bureaucratic procedures are high on the list, as is the EU’s intellectual property framework, according to a new survey of European Union and Brussels opinion leaders commissioned by GE.

Other deterrents to innovation include lack of clarification on important policies, and the inability of public officials to identify projects.

GE released the survey on the current state of innovation policies in the EU in Munich today (July 15), at the European launch of its $200 million private sector bid to speed the development of smart electricity grids.  

The project, “GE ecomagination Challenge: Powering the Grid,” unveiled in San Francisco on Tuesday, pioneers open innovation in energy technology on a global scale.

But GE’s open innovation competition will not involve government funds, despite the billions of euros set aside by national governments over the past two years for clean technology R&D.

To read the full, original article click on this link: Science|Business Fixing Innovation in Europe

Author: Science Business