Issue No. 2 (Apr. 2011) - Refuelling Economic Growth through Innovation

Submitted by empirica on 7 April, 2011 - 19:17
Date: 
April, 2011
PDF version: 
application/pdf iconInnovation Policy News 02 - INNO-Grips Newsletter April 2011
Acknowledgements: 

This edition of the INNO-Grips newsletter has been prepared by ICEG European Center, Budapest, Hungary,on behalf of the European Commission, Enterprise and Industry Directorate General.
Editors: Olivér Kovács, Renata Anna Jaksa (ICEG European Center)

Table of contents: 
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Editorial - The Future of Innovation in an Enlarged, Post-Crisis Europe

Dear Readers,

Europe faces several challenges in the domain of innovation. The EU27 has to improve its R&D&I activities otherwise it will be defeated in the global game of innovation and growth. Innovation trends and developments vary a lot even within the EU27, and it is a major challenge to avoid the “innovation divide” as the Communication on Innovation Union warns us. In this Newsletter, we devote special attention to this issue and to the problems to be solved in order to create cohesion in the Innovation Union.

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Lead Article - Thinking through the Role of Innovation in Economic Growth

A new policy brief by INNO-Grips explores the potential of innovation policy to foster recovery from the financial and economic crisis. The authors recommend that policy should focus on SMEs, and that credits and subsidies should be deployed to balance the fall-off in private investments in innovation during economic downturns. But they also emphasise the importance of innovation policy’s long-term orientation.

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CASE STUDY: Finland in the 1990s

Finland in the 1990s - An example of anti-cyclical innovation policy?

Finland was among the countries hardest hit by the European currency crisis in 1992-1993. Additionally, a huge share of its international trade was lost with the collapse of the Soviet Union, causing the most severe economic downturn seen in any OECD country since World War II. However, the Finnish economy recovered surprisingly quickly. This has been most usually attributed to a proclaimed anti-cyclical innovation policy.

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Venture Capital market in European context – Expectations and Prospects

Deutsche Bank economist Thomas Meyer shares a cautiously optimistic outlook on European venture capital activity.

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Mega-trends and innovation policy

Mega-trends such as climate change call the attention of policymakers to the importance of harmonisation across various policy objectives and measures. Aiming at mitigation of climate change needs such policies which are tailored to sustainable economic growth by stimulating innovation and the use of a wide portfolio of technologies.

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Innovation policy challenges in Central and Eastern Europe

The education system and the Academia can be portrayed as institutions whose aim is the creation and the transfer of knowledge. Central and Eastern European (CEE) EU member states are still coping with the legacy of the past, therefore the evolvement of a healthy innovative milieu is hampered.

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International Innovation Policy News

INNO-Grips monitors international developments in innovation policy. A network of correspondents from more than 30 countries worldwide reports regularly about the launch of new initiatives and other relevant events in their country. Their news reports are published on the INNO-Grips website. This article features a selection of news from some of the countries covered.

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About INNO-Grips

This newsletter is an INNO-Grips publication. INNO-Grips stands for “Global Review of Innovation Policy Studies”. It supports policy-makers in adopting appropriate responses to emerging innovation needs, trends and phenomena. It analyses framework conditions as well as barriers and drivers to innovation and innovation policy, and offers intelligence on international developments in these fields. INNO-Grips is part of the European Commission’s PRO INNO Europe portal, a focal point for innovation policy analysis and cooperation. 

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