This would include cross-border European and global consolidation, including—painfully—sell-side M&A where global leadership is out of reach. It would also include using vertical and capability-based acquisitions to ramp up the development of innovation strengths and ecosystems, for instance using corporate venture capital. Companies should also be proactive in seeking and developing cross-sector alliances to accelerate the development of transversal technologies. Companies and entrepreneurs can also seek to set up new disruptors. The European Institute of Innovation & Technology is an independent body of the European Union set up in 2008 to deliver innovation across Europe.
- And, in Faust by Goethe, Faust’s selling his soul to the devil in return for power over the physical world, is also often interpreted as a metaphor for the adoption of industrial technology.
- European players hold 38 percent more cleantech patents than firms in the United States, and more than double the number in China, and have more installed mature technologies per capita.
- Perhaps the type of technology that we’re most familiar with in modern life is electronic technology, usually just called electronics, which is a complex form of technology that uses electric circuits to achieve a goal.
- Studies have found that computers did not