Governments should not expect a quick financial return investment in R&I, according to EIC President

An innovation policy expert has stated that governments should not expect a quick financial return on their investment in research and innovation.

Michiel Scheffer, President of the European Innovation Council (EIC), was speaking at the Falling Walls Science Summit in Berlin on 08/11/2026. Asked whether companies supported by the EIC could contribute financially to basic research as they grow, helping to channel some of their returns back into science, Scheffer said the mechanism already exists: taxation.

However, deep tech companies do take some time to become profitable and contribute to public revenue. "It takes five to ten years before you start paying tax," he pointed out. "So it's not a quick fix for governments. I should be clear to governments: don't expect research or innovation…