Discussant session 2.1
1. Overview of contribution
· Emphasis is on the importance of knowledge intensive companies and how companies of this type in Europe compare with those in other world regions
· Addresses the ways in which structural change can be encouraged to increase the knowledge intensive, high value added sector in Europe
· Highlights some of the government and company actions that could encourage and enable the growth of knowledge intensive companies
2. Characteristics of companies in the main world regions
· A comparison of the total size and knowledge intensity of European companies compared to those in the US and Japan
· The structure of knowledge intensive sectors in these economies and input and output factors
3. How Europe can become more knowledge intensive
· The importance of growth and the characteristics of successful innovation-led growth companies using product, process or service innovation.
· The importance of companies reaching a viable size with financial strength as quickly as possible so they can compete effectively in the global economy
· Importance of government setting an enabling business and regulatory environment
4. What governments and companies can do
· Observations on attitudes to company growth in Europe and the US
· CEOs’ views on what governments can do to help knowledge intensive businesses
· Brief discussion of potential issues for governments and companies to address. These include, for governments, the availability & mix of skills (school & university systems); the regulatory environment; competition policy; infrastructure and planning; innovative government procurement; tax systems & tax credits; IP framework; inward investment by innovative companies; the environment for entrepreneurs; improved public/private knowledge transfer; access to finance
· For companies, issues include innovation effectiveness to help improve competitiveness in the global economy; improving the capacity to source, absorb and use new knowledge; networks & collaboration; an innovation-led culture with a focus on customers; access to finance; balanced growth and investment strategies; an early focus on profitable global growth to reach a viable size in their global sector/niche.