By Staff Reporters
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The European Union Paradox is the perceived failure of European countries to translate scientific advances into marketable innovations.
The root of this issue remains debated: is it due to the scientific output being distant from the cutting-edge, or is it because the European innovation system lacks the capacity to harness the potential of groundbreaking research?
And so, this study reveals that, compared to similar European research, the European Research Council has a similar probability of being cited in patents, although it garners a larger number of patent citations. Moreover, patents that do draw upon ERC research are often of superior quality, measured by forward citations.
Compared to similar European research, inventive activities arising from ERC science are predominantly housed within universities and public research organizations. In absolute terms, however, US organizations, especially US companies, still lead in deriving the greatest benefit from ERC science.
Cite: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4635463
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