In pharmaceuticals and biotech, Denmark, France, and Switzerland are all significant R&D centers with a strong public-private relationship.
In aerospace, the EU has always been decently competitive.
Same thing in automotive R&D (EV notwithstanding).
If you're comparing with Electronics hubs like Japan, SK, and Taiwan, a lot of that is also due to a number of Electronics industry players being located out West and significant diasporas of Japanese, SK, and Taiwanese nationals ended up working in those industries in their heyday and were able to finagle FDI through a mix of diasporas networking within the US and the Old Country and some level of government involvement.
Similar things happened in the EU Pharma industry with a number of French/German/British educated scientists working in Boston+NJ and returning to their home country down the line.