Nokia is one of the Top 5G companies. The company is responsible for producing all kinds of components for 5G (Antennas, routers and many more). The vast majority of what they produce is exported to countries such as China or the United States.
On paper it sounds like a good thing, showing that technology can be produced in Europe that is exported to the rest of the world. At the same time, it feels like helps develop technology in other parts of the world, instead of helping its development in Europe.
A problem that is not new, but that seems to become more accentuated with the passage of time. Europe does not take advantage of the potential of their companies in fields such as 5G, making other markets take advantage of this.
Europe has plenty of companies, potential and talent in the field of technology in general. Despite this, many of these people move to places like China or the United States when developing their patents, because it is easier to be able to get ahead in these passes. It has also happened with 5G.
They are also in many cases with problems when it comes to find investors, being in many occasions money coming from China, Japan or the United States that helps many startups in Europe to be able to advance and develop in the market. A serious problem, which can make these companies end up moving to these countries.
Europe misses many opportunities in this way. Innovative ideas or companies, with great potential, end up leaving due to the difficulties and obstacles they encounter. It is necessary to create a market that facilitates the development of innovative ideas, innovative products and that have a place in this market, without having to resort to investments from the United States or China.
Europe needs to change a lot
Changes are needed, in several ways as well. On the one hand, Europe needs to have legislation that favors innovation and the development of new technologies or products. Current laws are too restrictive, as can be seen with 5G, which is progressing very slowly in Europe. Letting China and the United States take the water away.
In Europe, laws tend to overprotectAlthough it is a good principle, they often lose sight of the benefits or advantages that certain technologies such as 5G can offer, despite the fact that there are also complaints. Many opportunities are being missed in this regard. Few countries, except Finland, have laws that really favor this type of innovation.
Another aspect in which Europe needs to change, not only in 5G, is in the creation of an infrastructure at the continental level. The existence of collaboration between the political sector, legal sectors, technology companies, universities, etc. This will help the development and advancement of innovations and avoid a situation like that experienced with 5G.