The World Economic Forum, in collaboration with McKinsey and Company, has set out a vision for Europe to become a global leader in innovation. Against the backdrop of Europe trying to catch up in innovation with other regions, such as the United States and China, for years, a new European model for innovation is proposed.
This report provides insights into what a new model for innovation could look like, highlighting four ways for Europe to change the game and address its lack of scale in digitisation and AI. The report also discusses the fundamental building blocks for European innovation competitiveness, including the status quo and concrete ideas in how to move forward. Perspectives and scalable examples were collected and developed with a community of leading founders, investors, incubators, corporate and public figures from across Europe.