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Nathan Myhrvold knows about innovation. An avid inventor, holder of hundreds of patents, author of books on the science of cooking, he is former chief strategist and chief technology officer of Microsoft and set up the company’s R&D arm, Microsoft Research.

And he’s not short of insights on how Europe can up its innovation game.

“There’s a very sunny story you can tell about European innovation as long as you restrict it to the things that big companies do,” he said, pointing in particular to the innovative edge of Europe’s long-established pharma sector.