Moedas says the bloc was slow to grasp the rise of the app-based digital economy. (Georges Boulougouris/European Commission)
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As Europe's economy recovers, companies and investors across the continent are gearing up for new opportunities, taking advantage of its hidden strengths: education, skills and innovative people. Here we look at plans by the EU's science and research chief to ensure European companies thrive in the internet's "third wave". Europe's expertise in engineering and science should enable it to dominate the "internet of things", according to the EU's science and research chief. European companies' relative absence from the digital transformation of recent years represents a strategic failure, says Mr Moedas.Mr Moedas is beginning to design the bloc's next multi-annual research programme and is determined to sharpen its focus to ensure European companies thrive in the "third wave" of the internet.Europe's history of science and innovation includes industrial giants such as Bosch and Philips, while Mr Moedas points to the more recent example of Veniam, a company founded in Portugal that used university research to develop a technology that allows bus stops to work as wifi hotspots.
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