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Conference on EU Competitiveness: Time to bridge the innovation gap is running out

by AI | 29.Nov 2024 | Europe in brief AI

Discussions on increasing the competitiveness of the economy have intensified following the publication of the report by former ECB President Mario Draghi and increased concerns about changes in the global environment, and the necessity of faster elimination of the innovation gap was discussed at the conference organized by the EIB and the European Commission’s representative office in Ljubljana.

Innovation is key to increasing the competitiveness of the European economy.

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Ljubljana – The innovation gap is a significant challenge for Slovenia and the EU, which is further exacerbated by the rapid development of new technologies, as assessed at the middle conference in Ljubljana, organized by the European Investment Bank (EIB) group and the representation of the European Commission in Slovenia.

Time is running out to address the gap, which is why the formation of effective measures is very necessary, also in light of a report by former European Central Bank (ECB) President Mario Draghi. The Director-General of the European Commission’s Directorate-General for Internal Market, Industry, Entrepreneurship, and Small and Medium Enterprises, Mary Veronica Tovšak Pleterski, also called for an increase in private investments. “We need more private capital, but also the support of public investments,” she said.

The new European Commission will, therefore, have to base investments, according to her. Financial resources need to be released for the green, digital, and social transition. Special emphasis needs to be placed on the financing of fast-growing companies, she said. She is pleased that the Slovenian government is supportive of the proposed measures from Brussels.

Slovenia is constantly catching up with foreign countries but never succeeds in overtaking them, warned the product development and European programs specialist at SID Bank, Rene Šrumpf. “In many areas, Slovenia has a great starting point, but it doesn’t know how to use it well enough,” he said. They also highlighted the problems of startups, which in Slovenia and also in some other EU countries face a lack of understanding of their way of operating and consequently insufficient funding. Changes in this area are essential, and time is running out, as international competition is increasingly fierce, they warned. (November 27)

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