Last week European Commissioner for Digital Economy and Society Günther Oettinger stated at the Austrian Alpbach forum that Europe needed to invest an estimated 600 to 700 billion Euros into its digital infrastructure in order to not fall further behind the United States and China.
Oettinger urges that Europe must quickly develop fiber optic networks as well as 5G wireless in order to stay competitive.
Furthermore, Oettinger emphasized the importance of a united Europe instead of emerging silos (aka Brexit) when he said,
“We have to bundle our European strength we have at universities and in the industry, or our 28 silos will be not strong enough to compete with Silicon Valley and the Chinese”.
When we combine Oettinger’s statements with data that the European Commission released for 2016 it gives us more details on where innovation happens in Europe.
It is interesting, however not entirely surprising, that innovation at its highest levels happens in relatively few European countries. Namely, top innovators in Europe are these six countries: Denmark, France, Germany, the Netherlands, Sweden, and the United Kingdom.
But what does this mean for the edtech sector. Are there parallels between investment in digital infrastructure and education technology?
Build it and they will come
Investment in Digital Infrastructure leads to EdTech Growth in Europe.
Based on the data EDUKWEST Europe has gathered for the education market over the past two years, we can confirm this general trend for the EdTech Startup scene in Europe. There seems to be an interlinkage between the investment in innovation and digital infrastructure and the growth of edtech startups in the aforementioned countries.
Especially the United Kingdom, Germany, France and Spain have seen rapid growth in the edtech sector, both in terms of startups and investments and there is growing interest from investors in edtech startups from the Nordic countries.
In our next post we will take a look at Europe’s leading EdTech Cities.
- Europe needs $800 billion investment in digital infrastructure: Commissioner
- Regional Innovation Scoreboard
- EdTech Funding Report Europe Q1 2015
- EdTech Funding Report Europe Q2 2015
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