Building on a previous post regarding a study that demonstrated European startups applying the scientific method are more profitable, with top performers gaining nearly half a million euros in additional revenue, it is pertinent to examine a recent paper published in the journal Research Policy titled “ERC Science and Invention: Does ERC Break Free from the EU Paradox?“.
The study shows that ERC-funded research has a higher impact on inventions and is more likely to originate from universities compared to other European research. However, US startups benefit more from this research due to a more dynamic startup ecosystem, while the EU continues to face challenges in commercializing its scientific advancements, known as the European Paradox. https://www.sciencedirect.com/science/article/pii/S0048733324000878#sec5
There is another way to increase European wealth where science could play a crucial role beyond the creation of startups. This involves leveraging scientific methods to hunt down large tax evaders. As I wrote in 2019 in an email that irritated German MEP Hans-Olaf Henkel, the fact is: “…He forgets that if Europe was able to cut tax evasion by half that would mean an annual revenue of around 500 billion which is more than the annual total net income of 15 Google champions…”
PS – In light of the aforementioned context, it is also worth exploring the post titled “The Economist “The World Ahead 2024″__What constitutes the most efficient method for financing scientific endeavors?“
Pacheco-Torgal 