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Opinion - New funding for new ideas by Panos Louridas

A common complaint heard in Europe is that funding for research and development lags far behind that of the United States. In particular, the US public sector spends $50 billion per year in procurement for R&D, which is 20 times higher than in Europe, and accounts for 50% of the investment gap between the US and Europe. Even taking into account large investments in defense, the US expenditure in R&D is still four times higher than that of Europe.