What role is there for policy to address the funding barrier for scaling-up? Do we need a reorientation of the currently pursued policies in European countries?
Europe’s slow growth is often attributed to its low capacity for structural change and shifting towards new growth areas. New firms fail to play a significant role in the innovation dynamics of European industry, especially in the new growth sectors. This is illustrated by their inability to enter, and more importantly, for the most innovative entrants, to scale-up and grow to world leadership in new sectors. Europe is missing its GAFAs (Google, Amazon, Facebook, Amgen).
The specific barriers faced by these companies in the EU need to be addressed. An important barrier is access to external finance, particularly early-stage risk capital.
What role is there for policy to address the funding barrier for scaling-up? Do we need a reorientation of the currently pursued policies in European countries? Do we need more public risk funding? Or does it matter more how “smart” the funding is, assuring that the financial markets allocate risk finance to the most promising projects.
This event will be livestreamed on this webpage at 13:00 CET. There is no need to register for the livestream.
Check in and lunch
Chair: Reinhilde Veugelers, Senior Fellow
Rudy Aernoudt, Curator TEDx Brussels, Professor corporate finance at the Universities of Ghent and Nancy, Senior economist European commission (DG GROW)
Johan Cardoen, Managing Director, VIB
Louis Papaemmanuel, Director, Sales and Customer Relations, EU Start Up Services
François Véron, Co-Founder and Managing Partner, Newfund
Curator TEDx Brussels, Professor corporate finance at the Universities of Ghent and Nancy, Senior economist European commission (DG GROW)
Managing Director, VIB
Co-Founder and Managing Partner, Newfund
Director, Sales and Customer Relations, EU Start Up Services
At this closed-door, off-the-record event we will discuss the impact that mergers have on innovation.
Following our past events on the topic of antitrust concerns in zero price markets and on big data, digital platforms and market competition, this November we are hosting an event on antitrust concerns in the digital markets.
This event will feature a new and interactive format, with a restricted and high-level on-site audience and in parallel, it will be livestreamed on our website to remain public and attract the widest participation
This event aims to discuss the various nuances and diversity that characterize crowd employment.
Reinhilde Veugelers' chapter in "Investment and Growth in Advanced Economies", conference volume of the European Central Bank’s Forum on central banking in Sintra.
The referendum where UK voters chose to exit the European Union has many unanticipated consequences. One that is gaining visibility in the UK just now is the impact of Brexit on mobile roaming arrangements. How might the UK maintain roaming arrangements with the EU in the event of a hard Brexit?
Fintech has the potential to change financial intermediation structures substantially. It could disrupt existing financial intermediation with new business models empowered by intelligent algorithms, big data, cloud computing and artificial intelligence. Policymakers need to consider four questions urgently: Develop a European or national fintech market? What regulatory framework to pursue? Should supervision of fintech be exercised at the European level? What is the overall vision for the EU’s financial system?
The Annual Meetings are Bruegel’s flagship event. They offer a mixture of large public debates and small private sessions about key issues in European and global economics. In a series of high-level discussions, Bruegel’s scholars, members and stakeholders will address the economic policy challenges facing Europe.
Europe needs to know how it can realise the potential for industrial rejuvenation. How well are European firms responding to the new opportunities for growth, and in which global value chains are they developing these new activities? The policy discussion on the future of manufacturing requires an understanding of the changing role of manufacturing in Europe’s growth agenda.
Chinese R&D investment has grown remarkably over the past two decades. It is now the second-largest performer in terms of R&D spending, on a country basis, and accounts for 20 percent of total world R&D expenditure, with the rate of R&D investment growth greatly exceeding that of the U.S. and the EU.
A country’s relative strength in exporting a certain product is likely to persist. But it is easier to gain a comparative advantage in exporting low carbon products. When it comes to R+D, strength in a certain technological field is much less linked to past specialisation. This also holds for low carbon technologies. Finally, our preliminary findings are consistent with the view that R+D can help a country specialise in clean technology exports. However, we are not yet able to show that policy action supporting R+D in clean technologies is a sensible way to develop a comparative export advantage in these sectors.
What’s at stake: Americans spend a lot on prescription drugs, more per capita than any other country by far. Individual cases of sharp price increases - like the case of the EpiPen - have recently driven attention to this issue. We report review contributions on this topic.