EU-U.S. Innovation Gap Narrows for Fourth Straight Year

The latest European Innovation Scoreboard 2006 (EIS) indicates that the EU continues to close the "innovation gap" between Europe and the United States. The EIS measures the innovation performance of a country's economy based on a range of indicators, including education levels, expenditures in the information and communication technologies sector, investment in R&D, and the number of patents filed. America's innovation edge, on the decrease for the fourth consecutive year, is largely attributed to easier access to early-stage venture capital, a higher proportion of the population with post-secondary education, and a greater number of U.S. patents.

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