Recent wildfires in Chile, and the news that the world has exceeded 1.5C warming over the last year have again spotlighted the climate crisis. It’s real, it’s here and it’s urgent.
In a remarkable demonstration collective action, the Los Alamos project during World War II saw the creation of an entire city dedicated to a singular scientific mission. Today, facing a climate emergency just as dire, our collective response is lackluster. So how do we mobilise the innovation needed to confront this existential threat?
Mitigation and carbon neutrality targets in Europe are important especially in setting the right culture, but will never be enough alone. Over a billion people are fighting to escape poverty. Telling them to consume less, grow less, live less is not just impractical; it’s immoral. We need bold action – now. Innovation is a must-have, but more importantly, we need to get these solutions out into the real world FAST.
The immense potential of Europe
Harnessing Europe’s innovation potential will be key. Europe contributes 35% of the world’s science and engineering articles, outpacing the US and China in research output. When it comes to world-class patents, Europe collectively leads in multiple key categories, evidence of a continent brimming with innovation. There is also geographic as well as thematic diversity in its innovation: no single European country is leading the charge alone.
The European populace embraces science and technology, with 86% viewing its influence favorably. A significant majority demand that governments ensure technological advancements benefit all (72%) and mandate private companies to address climate change (79%). Despite this, most EU citizens believe researchers in China, the US, and Japan are outpacing the Europeans in making significant scientific discoveries.
There is a stark disconnect between scientific output and social impact in Europe. A staggering 95% of patents in Europe lie collecting dust, never giving life to companies and products. This struggle to convert scientific achievements into tangible benefits highlights a systemic issue in knowledge transfer and commercialisation of research.
Turning the ship around
The constant benchmarking against an American system, now admitted by its own architects as broken, is not just misguided—it’s a missed opportunity. The US model, rooted in the Bayh-Dole Act from 1980, is facing challenges due to corporations moving away from the direct licensing model to prioritising acquiring new technologies that have already been de-risked and proven valuable by startups. Still, the licensing models and deal structure echoes the old model of direct licensing to corporations with deep pockets creating unnecessary and often fatal hurdles for the startups bringing new technologies to the market. Here’s how we could start to turn the ship around:
First, revamp state aid laws. Public funds could be allowed to be channeled into transforming scientific discoveries into startups, more explicitly rewarding those that carry the personal risk to bring research into society. Starting equity negotiations from 0% might seem radical, but when we’re dealing with technologies so advanced that their market hasn’t even formed yet, assigning an arbitrary market value is nonsensical. We need to give these ventures the best possible odds to grow, and eventually dominate their sectors globally.
Second, create the right incentives for entrepreneurship. Currently, university funding, rankings, and career paths discourage researchers and research groups from pursuing commercialisation and knowledge transfer. Europe must work as a united front to reform academia and improve current funding models to promote and expect concrete outcomes of research when applicable.
Third, be the best place for university spinouts to start and grow. Europe must not just compete but dominate as the go-to region for academic spinouts. We have the intellectual resources, the technological advancements, and the societal framework to do this. What’s missing is the culture and policy environment that says: Europe is open for innovation.
Finding a systemic solution together
In the quest to commercialise research, Europe’s efforts to promote entrepreneurship have been like a pinball—bouncing between departments of research, education, economic development, and employment, without ever finding a home. Transforming research into tangible social benefits requires a cross-government, cross-directorate, and indeed, cross-sector approach.
The solution lies in fostering a culture of collaboration that transcends traditional boundaries. This means creating mechanisms for cross-government action, creating platforms for private-public partnerships, and encouraging an integrated approach to innovation policy that reflects the interconnected nature of modern challenges.
At MIMIR, we’re not waiting for change. We’re spearheading it by engaging students and researchers directly in research commercialisation, transforming their passion for meaningful careers and saving the world through productive endeavors, instead of just demonstrations and social media posts. But this is bigger than any single organisation or sector. It’s a movement that requires everybody’s action, leveraging our diverse strengths to be larger than the sum of our parts.
Europe, it’s time to wake up. Our future hinges on our willingness to embrace radical changes and empower the next generation of innovators. We have the resources, the talent, and the opportunity. What we need now is the courage to act. Let’s set the global standard for transforming scientific research into social impact.
A serial entrepreneur and a CS student with a deep appreciation for science, Ahmed is the co-founder of MIMIR, making the Nordics global leaders in research commercialization with students leading the way. Previously, he founded a jewelry gift business, scaling it to a six-figure annual revenue. He also served as president of Aaltoes, the world's largest student entrepreneurship association. Ahmed’s strengths lie in understanding people, initiating projects, and taking them from concept to realization. His commitment is to encourage students to harness their concern for global issues like climate change, redirecting this energy into research commercialization, turning their passion into tangible solutions.