If Europe is to catch up with the US in technology innovation its member states must support riskier research projects, according the commissioner for Information Society and Media, Viviane Reding.

European technology research and development projects that receive public funding tend to be those that serve an established market, and have a high likelihood of a return on investment, said Reding. While prudent, this approach is unlikely to produce high-value technologies that could close the innovation gap between Europe and the US, she warned.

"Only with a more pro-active, pro-innovative use of public spending will Europe be able to equip itself to meet structural challenges such as an ageing population and the transition to a low carbon economy,” Reding said last week. "This could become a lost opportunity for Europe if we do not act quickly."

Further reading

Europe's new agenda setter Viviane Reding has been quick to proclaim that "information technologies and the information society are a way for the Lisbon Strategy to really take off."

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