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Europe needs to invest massively in Digital Infrastructure

By The National Archives (UK) (The National Archives (UK)) [CC BY 3.0 (http://creativecommons.org/licenses/by/3.0)], via Wikimedia Commons

Europe as a whole operates at only an estimated 12% of its digital potential compared with the United-States' 18% T(Fig.J.Bughin MGI). The fact of the matter is that the major international companies based on the Internet powered technologies were created in the US. Against this background, Europe should rapidly try to bridge the gap between these 2 parts of the world.To take up these challenges, it must massively increase its research effort particularly in the IT. Not surprisingly, and the link to the creation of technology innovative companies is obvious, theUS is still far ahead of the EU with 18 of the 25 top universities for computer science based in the country. That being said, European policy makers do not stay Still. Horizon 2020 is 1 of the EU's most interesting research and innovative programme. For this programme the Commission has committed itself to invest €100 Million to help 69 small businesses bring their innovations to the market. At first sight this amount seems largely insufficient to catch up with Silicon Valley and to create IT champions. However, this budgetary effort cannot be considered as insignificant. Indeed, it is small businesses that need more support and which may one day become "Unicorns". On a broader level, Europe will have to invest €800 Billion in its digital infrastructure, especially in fibre-optic and high speed 5 G wireless applications and networks (Fig.Com.G. Oettinger). Yes, Europe has an undeniable digital potential. And there are undoubtedly positive signs of recovery: we have already 47 European "Unicorns". And venture capital funds have invested in this area more than €13 Billion in 2016. As a result, European Tech is gaining ground world-wide.

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