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Why Europe is falling behind US and China in global innovation race
- Europe’s innovation lag comes from complacency rooted in the belief that scientific achievements will inevitably translate into innovation and foster economic growth
- However, science alone is not enough to promote deep tech innovation
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Francis de Véricourt is a professor of management science and founding academic director of the Institute for Deep Tech Innovation at ESMT Berlin
Throughout the 18th century, China’s development matched that of Britain in terms of life expectancy, literacy and gross domestic product. Even further back in history, China consistently excelled as a leader in technology, often surpassing Western advancements. Inventions such as printing, gunpowder and the compass all originated in China, taking centuries to reach Europe.
If this was the case, then why did China miss out on the Industrial Revolution that transformed Europe in the 19th century?
Considered one of the most pivotal events in human history, the Industrial Revolution accelerated economic growth and life expectancy throughout Europe and the United States. The development of pre-industrial technologies often involved altering or combining existing technology until a desired outcome was achieved, usually through trial and error, without necessarily understanding how it worked. These solutions were low-tech.
However, the advent of scientific thinking provided insight into how the world actually worked, extending the boundaries of inventors’ imaginations. Deep tech innovation was born: a science-based approach focused on technologies most likely to work and the conception of new technology, limiting trial and error.
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