Germany · China · Japan · Fortune Technology
Under the proposed Chips Act 2.0, Brussels aims to strengthen Europe’s semiconductor ecosystem as part of a broader push
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The defining characteristic of this year’s ranking may be its longevity.
Key facts
- Its R&D intensity has held at roughly 2.1% for years, compared with 3.45% in the U.S. and Japan and 2.6% in China
- The list spans 300 companies across 18 countries and 21 industries, highlighting organizations that are pushing boundaries in fields ranging from healthcare and manufacturing to telecommunications
- Michelin, new to the list this year and already cracking the top 10, was founded in 1832 but was reincorporated as Michelin and a tire company in 1889
- In comparison, of the U.S businesses founded since 1994, only one-third survived a full decade, according to the Bureau of Labor Statistics
Summary
Europe spends less of its GDP on research and development than the U.S., Japan, or China. Fortune’s Europe’s Most Innovative Companies ranking, now in its second year and produced in partnership with Statista, showcases the businesses helping drive that performance. Together, the ranking paints a picture of a continent defined by deep industrial expertise, fresh ambition, and a capacity to reinvent itself. Europe may lag behind the U.S. and China across much of the tech landscape, but it has assembled a formidable semiconductor ecosystem. ASML is pushing the AI race forward with two breakthrough innovations.