Limassol, Cyprus. Europe’s approach to technology regulation was debated this week in Limassol, where policymakers and industry figures warned the EU risks falling further behind the United States and Asia without simpler rules and faster scaling support.
Panel discussion at Doers Summit
The discussion took place during the panel “Regulate or Accelerate? Europe’s Approach to Innovation,” held as part of STEM for All by TechIsland and Women in Tech Cyprus at the Pentagon Stage of the Doers Summit at Kolla Culture Factory.
Moderated by Peter Kofler, chairman of Danish Entrepreneurs, the panel included Kyriaki Pantziarou, director of the Directorate of Digital Policy and Communications at the Deputy Ministry of Research, Innovation and Digital Policy; Eugenia Bozou, head of government affairs and public policy for Greece, Cyprus and Malta at Google; and Nikolas Chatziavraam, CEO of Zygos.
Concerns over pace and impact of regulation
Kofler said Europe was at a critical point, noting that about 80 per cent of digital regulation affecting countries such as Denmark and Cyprus comes from Brussels. He said Europe had spent the past decade operating under the belief that regulation would create a safe and predictable environment for innovation, while questioning whether the approach has delivered the intended results.
He asked whether Europe can accelerate and regulate at the same time, and pointed to a growing gap between Europe and global competitors.
References to Draghi report and startup sentiment
Kofler referred to the Draghi report, saying it echoed what startup organisations across Europe had been saying for years: that growth is increasingly taking place outside the EU. He added that a recent meeting of startup organisations in Lisbon delivered a blunt message: “slow is the new stupid.”
Shift in Brussels after Draghi report
Pantziarou said there had been a visible shift in Brussels since the Draghi report, with policymakers moving away from a “regulate first” mindset toward competitiveness and investment. She said the Commission had realised it must move from regulating first to competitiveness and accelerating investment in Europe “otherwise, we will stay behind.”
She said Cyprus, through its EU Presidency, had been able to open important discussions on digital files affecting the wider economy rather than regulation for its own sake.
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