This ESIR Focus Paper provides a 'deeper dive' into the role of European Universities in achieving systemic change in the post-pandemic economy and society. It builds on and complements ESIR's second Policy Brief, which offers guidance on how a 'protect-prepare-transform' approach in the post-pandemic Europe can ensure fast learning from innovation by relying on smart and coherent policies, collaborative efforts across levels of government and decentralisation of governance, and most importantly the courage to direct research and innovation at the transformations Europe is facing.