The European Commission is keeping a close watch on the innovation efforts of its 27 member states. Despite its official objective of becoming the most competitive knowledge-based economy in the world and increased innovation efforts by member states last year, there is still a gap between the continent and the US, Japan and South Korea. Compared to the emerging economies, Europe is still ahead, but China is gradually catching up.

On the continent, Belgium is a strong performer in the field of innovation, increasing by one position its ranking in the European survey, just behind the leading countries Sweden, Denmark, Germany and Finland. Considering the various criteria for this ranking, Belgium scores well in respect of scientific publications and high level of education. Moreover Belgian SMEs score well above the European average in respect of innovation. Another significant achievement is the availability of venture capital, which is not only above average but also increasing rapidly. The Commission is also satisfied with the way scientific research is organised and structured in Belgium, especially with regard to transparency. Among the weak points are investments in scientific research and the marketing of innovations. Traditionally the Belgian authorities and businesses are reluctant to spend too much on scientific research. As far as the “marketing” of innovations is concerned, Belgium is below average, with the sale of innovative products or services even dropping. Similarly there is room for improvement as far as the protection of intellectual property is concerned.

The European Commission does not plan to stand idly by and it has been agreed that the current budget savings will not result in innovation or education cuts. The objective will still be that each country's government and businesses spend a collective 3% of their GDP on scientific research. European Research Commissioner, Mrs. Maire Geoghegan-Quin believes the survey is  also a plea for a united European research platform that will attract talent from around the globe.