The Central and Eastern European (CEE) region is rapidly evolving into a powerhouse of innovation and technology, significantly contributing to the global economy. Spanning a diverse array of countries with distinct strengths in science and technology, CEE’s combined Gross Domestic Product (GDP) has surpassed €2 trillion, showcasing a commitment to transforming their economies through enterprise and innovation. With an impressive enterprise value increase of 7.6 times since 2017, the region presents a compelling case for investment and collaboration for stakeholders in the UK and beyond.
One of the standout players in this tech revolution is Austria, recognized as the fourth largest producer of semiconductors. The strategic position of Austria facilitates the expansion of supply chains with neighboring countries such as Czechia and Bulgaria. The establishment of these interconnected supply chains not only boosts local economies but also ensures the region’s competitiveness in the global market. In Austria alone, innovations in semiconductor technology could lead to significant advancements in various sectors, including healthcare, automotive, and consumer electronics.
Croatia offers another illustration of CEE’s dynamic tech ecosystem, particularly through its burgeoning unicorns. These high-growth startups are pivotal to the national economy, contributing approximately 4% to Croatia’s GDP. Such figures underscore the potential that startups have in driving economic development while also emphasizing the importance of fostering entrepreneurial ecosystems. Furthermore, Poland and Czechia demonstrate remarkable resilience, with both nations retaining 90% of their startup enterprise value. This retention reveals a stable environment for startups to thrive and grow within CEE, informing UK stakeholders of the valuable opportunities available.
Alignment between the UK’s International Tech Strategy and CEE’s strengths creates fertile ground for collaboration. The UK has been a crucial partner for CEE researchers, particularly during the previous Horizon Europe programme. The successful reintegration of the UK into Horizon Europe and Copernicus represents an opportune moment for UK stakeholders to rekindle relationships with their CEE counterparts. The appetite is palpable, as local entrepreneurs and research institutions are eager for partnerships, a sentiment that can be leveraged for mutual benefit.
Conferences and tech events serve as vital platforms for connecting stakeholders and bridging gaps in communication. For instance, a high-level roundtable organized by the UK Science and Innovation Network (SIN) in January brought together Bulgarian and UK stakeholders to discuss semiconductor technology. The event catalyzed conversations about cooperation and the exchange of best practices in this sector, significant for both countries. Bulgaria’s recognition as a strategic partner underlined its importance in the UK Semiconductor Strategy, furthering prospects for bilateral cooperation.
In February, the focus shifted to artificial intelligence (AI) during the first UK-Romania research conference. The conference aimed to explore emerging opportunities in AI research and foster relationships across various sectors, including academia, SMEs, and NGOs. This event was part of SIN’s ongoing AI initiatives, which have developed considerably since 2021. Continuous engagement not only informs policies but also facilitates an environment where innovative ideas can flourish.
The international focus on AI was further reinforced in March when SIN supported a delegation of AI stakeholders from Czechia, Slovakia, and Poland to attend the Alan Turing Institute AI Expo 2024. This gathering allowed regional AI influencers to share their policy approaches with UK counterparts, fostering discussions that are essential for developing robust regulatory frameworks. By creating connections between researchers and policymakers, the region is capitalizing on its accumulated expertise, ensuring that innovation continues to thrive in CEE.
In seeking to understand the broader landscape of technology opportunities in Central and Eastern Europe, stakeholders would benefit from consulting the UK government’s report commissioned by SIN. This document outlines vital information country-by-country, pinpointing CEE’s importance under five priority technologies. By recognizing the unique contributions of each country, UK stakeholders can strategically navigate the region’s diverse offerings.
The synergy between the UK and CEE is increasingly critical in the context of a rapidly changing global technological landscape. By prioritizing collaboration and focusing on key sectors such as semiconductors and AI, both regions stand to gain from their shared expertise and innovative potential. The continual discourse around these themes not only highlights successes but also sets the groundwork for future growth, attracting investments and driving regional prosperity.
The message is clear: Central and Eastern Europe is not just a participant in the tech revolution; it is a leader. As the region continues to strengthen its science, innovation, and technology ecosystems, opportunities for collaboration are abundant. The proactive engagement of the UK with CEE promises mutual benefits that can lead to unprecedented growth and innovation in the years to come.
