Good education and good research alone is not enough to be competitive. Especially the linkage between education and research (by companies) is important. The education system should create skilled workers for companies to do their research. There is, however, one big problem, the so called “European paradox“.
Universities in Europe are very good in producing knowledge. When looking at scientific papers and influence of these papers Europe scores very high. But European societies have a problem of putting this knowledge in the market. It is often said that entrepreneurship in Europe is not high enough. Not enough graduates from universities continue their research for companies. In general a ‘culture change’ would be needed, one were entrepreneurship is valued, and graduates are encouraged to set up their own businesses in biotech, or continue their research for large, commercial firms.