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  "text": "Europe does not lack innovation.\n\nIt lacks scale.\n\nEuropean universities produce world-class research, engineers and technology. But too many companies remain trapped inside fragmented national markets instead of scaling immediately across the continent.\n\nThe numbers are clear:\n\n→ EU private R&D investment growth has slowed sharply\n→ Europe’s share of global corporate R&D investment has fallen from 21.4% in 2014 to 16.2% in 2024\n→ Europe still has too few large tech champions because companies face fragmented regulation, smaller capital pools and slower growth financing\n→ Startups must expand country by country instead of scaling through one fully integrated market\n\nEurope’s innovation problem is not creativity. It is market size, capital depth and speed of scaling.\n\nA continent with world-class talent cannot keep turning great research into small companies.\n\nEurope needs one real market for innovation.",
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