Europe’s Innovation Ecosystems: Who Funds Breakthroughs?

Europe does not suffer from a shortage of ideas, but rather from ecosystems struggling to carry breakthroughs through the multiple valleys of death between research and market.

Public grants, venture capital, foundations, development banks and institutional investors support different stages of that journey yet rarely operate as part of the same system. Europe knows how to fund individual projects that lead to breakthroughs – but who funds the ecosystems that make them possible?