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SYNTHESIS
Panel 1 - Stimulating New Innovations: What is the Role of the Government ?
Martin Duckworth moderated the discussion. The panel focused on several main themes: green technologies, foreign subsidies, state aids and consequences of an active role of the government for antitrust and innovation.
Griet Jans
Innovation can create tensions
- While innovation is an essential driver of economic progress and fosters prosperity and growth, it can also lead to or be accompanied by negative externalities. However, it is crucial to believe that new innovation initiatives will be needed to restore these issues.
- It is important to build a resilient Europe and to create a more innovation-friendly environment in order not to become too dependent on other economies in highly innovative markets, such as in digital. However, maintaining global cooperation is necessary to address issues like the environmental challenges and the increasing use of AI, with governments playing a key role.
- For having an appreciable impact, innovation sometimes needs sufficient spillovers to other companies or sectors involved.