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  "documentTitle": "Innovate or Fade European businesses need to address the technology deficit to turn the tide",
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  "notes": "The chart uses red arrows to highlight the basis point (bps) gap between North American and European R&D spending.",
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      "text": "Corporate financial data shows a 110 basis point (bps) gap in R&D spending as a percentage of revenue between North American and European companies in 2021. Had they matched the North American pace, European companies would have invested $388 billion more over the past five years (Refer – Accelerating Europe's path to reinvention)",
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      "text": "Corporate financial data shows a 110 basis point (bps) gap in R&D spending as a percentage of revenue between North American and European companies in 2021. Had they matched the North American pace, European companies would have invested $388 billion more over the past five years",
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      "text": "Research & Development (R&D) Expenses as a % of Revenue (historical: 2017-2022)",
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      "text": "R&D-to-revenue gap (Europe vs North America): 140 bps",
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      "text": "Source: S&P Capital IQ, Accenture Research;* Excludes FS companies. Sample Size: 1,843 of which Europe: 909, North America: 486 and APAC: 448. The cumulative figure is based on the sample of companies covered in the analysis and is arrived by applying North America rate of investment in R&D to European companies to arrive at the approximate shortfall.",
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      "text": "Figure 6: Europe's R&D gap is widening",
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