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Draghi Report, Colao: the push for innovation starts from universities

In Draghi's report, former minister Colao highlights the need to turn university research into innovation and patents to foster innovation and attract entrepreneurs. He also proposes creating a more favourable environment for private capital and relaxing prudential constraints on risky investments. With a statute for a European start-up

14 September 2024

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Vittorio Colao, ex ministro per l’Innovazione tecnologica e la transizione digitale

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"We need to start with university research to push innovation. Our universities produce a lot of research, but few patents. In the Draghi report we propose to strengthen the world of innovative research to attract entrepreneurs. We want to turn inventors into innovators and innovators into investors'. This was said by the former Minister for Technological Innovation and Digital Transition, Vittorio Colao , speaking to Friends and Enemies on Radio 24 about the Draghi report. A hot topic on which Sole 24 Ore will publish a special on Wednesday 18th.

FRIENDS AND ENEMIES / LISTEN TO THE INTERVIEW WITH VITTORIO COLAO ON THE 14 SEPTEMBER 2024 SESSION

Pushing innovation

For Colao, 'the first thing we need to do to develop innovation is to create a more favourable environment for private capital. In the EU,' the former minister added, 'we have more savings than the US, but we invest in public debt. The EU also has prudential constraints that make it difficult for risky capital to invest. The Report proposes to start loosening these rules and start taking some risks, for example by making guidelines for pension funds in the various countries'. Also with the aim of facilitating innovation, "in the Report we propose the creation of a statute for innovative European start-ups based on a single digital identity with a simplified regime that can operate freely throughout Europe without having to create subsidiaries".

Shared debt in the EU to increase growth

Also according to the expert, 'making debt should be used to invest in order to increase the growth rate of countries. Investing today in digital, for example, helps to achieve a future balance. We would like to create at European level a shared debt on energy transport and Ai, which we believe reflects more the European political project. More debt as long as it is for investment and on fully shared projects'.

Collaborating with large platforms

For Colao, 'collaboration with large platforms is a balancing act that must also pass through the sharing of development costs. We seek to create rules for public procurement that favour the growth and aggregation of players and large European platforms'.

We need energy independence

According to Colao, 'we need energy independence, i.e. to produce more clean energy, and this requires large investments. The EU countries should digitise and invest together. Here too we need to think about joint debt and private involvement because digital, technology and energy transition go hand in hand in the EU'.