EU Aims to Cut Red Tape, Boost Funding to Lure Tech Startups
The European Union set out plans to slash regulation and set up a special fund to attract tech startups as the bloc plays catchup with the U.S. on financing and innovation.
The European Commission, the EU's executive arm, said regulatory fragmentation across the EU's 27 countries and inadequate financing were holding back growth for startups. Officials now hope to lower the administrative burden and launch a new fund to make it easier for startups to set up shop in the EU.
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Bezos wedding backlash in Venice draws big banner blasting billionaire tax breaks
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Canada signs deal deepening European defence and security partnership
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Let Researchers Be Researchers: Why Fundamental R&D Is The Real Engine Behind Innovation
Sudhir Chaturvedi Chief Growth officer, NTT DATA, Inc. and CEO, NTT DATA North America. I had a fascinating conversation recently with someone from the pharmaceutical industry. We talked about the rise of GLP-1 medications that are now widely known for their impact on weight loss and diabetes management. What struck me was their origin story. These drugs exist because someone studied the Gila monster, a lizard that eats only a few times a year. In its saliva, scientists discovered a glycogen-like peptide that regulates appetite. The researchers weren't trying to develop a blockbuster drug. They were simply curious. They studied the lizard because it was fascinating. To me, that's the perfect example of why fundamental research matters. Too often, organizations see research as something that must deliver immediate commercial value. They ask, 'What's the business case?' but overlook how true innovation happens. 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Innovation Begins With Freedom When we allow researchers to operate independently, without the constant shadow of commercial expectations, we foster more creativity, collaboration and ultimately, better innovation. The world of research thrives on openness. When researchers are free from constraints, they're more likely to share, collaborate and build on one another's work. That accelerates discovery for everyone. It's also why I believe in making certain intellectual property widely accessible. I'm not suggesting we eliminate IP protections, but in many cases, overly restrictive ownership slows down the very progress we aim to foster. The more widely the research can be shared, the faster we all benefit. Bridging The Gap Between Discovery And Impact Of course, research alone isn't enough. At some point, we must take promising ideas and translate them into real-world impact. That's where commercial teams come in, but only after the researchers have time to explore. 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The now-famous paper Attention Is All You Need, written by Google research fellows, revolutionized the field. That one article accelerated the development of large language models, including ChatGPT. AI is transforming how research happens. It can analyze vast datasets, generate synthetic data and even write code. In pharmaceutical R&D, what once took years can now take weeks. It helps researchers move faster, test ideas sooner, and collaborate more easily across borders. The more we embed AI into research workflows, the faster and more affordable discovery becomes. And when those breakthroughs come? We shouldn't take the profits and bank them. We should reinvest them in more research. That's the virtuous cycle we need. A Call To Action For Business Leaders If you're a leader in your organization, here are some actions you can take: • Budget for research as a long-term investment, not a short-term profit center. • Don't burden researchers with commercial targets. Fund them, then step back. • Encourage wide collaboration and resist overprotecting IP. • Spend time with researchers. Understand the cutting edge. • Be willing to experiment and to fail. If a project fails, be willing to learn from it and move forward. • Build the bridge to commercialization with the right team, resources and patience. Innovation Starts With Wonder When I look at the technologies we use every day, whether it's high-speed networks, AI assistants or life-saving medicines, I often ask myself: what piece of research made this possible? In almost every case, the answer lies in a curious mind, years or sometimes decades before the innovation ever reached us. That's why I'm so passionate about fundamental R&D. Because someone took the time, and someone funded the effort, we all benefit now. The breakthroughs of tomorrow begin with curiosity today. Let's keep making space for that wonder. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
