Unleash innovation to spur growth in Europe
EU News 128/2015
Brussels, 07 May 2015
Improving Europe's capacity to innovate and be globally competitive requires further efforts to encourage disruptive ideas and foster their commercial up-take. These are some of the conclusions to be drawn from the latest ranking of innovation performance across Europe.
The European Commission's Innovation Union Scoreboard 2015 reveals that the EU’s overall level of innovation has remained stable. However, the crisis has left an impact on the private sector's innovative activity: the number of innovative firms is in decline, as are SMEs’ innovations, patent applications, exports of high-tech products, venture capital investments and sales of innovative products. While there have been improvements in human resources, business investments in research and development and the quality of science, these are not enough to result in a stronger innovation performance.
In the overall ranking, Sweden is once more the innovation leader, followed by Denmark, Finland and Germany. The fastest growing innovators are Malta, Latvia and Bulgaria, Ireland, the UK and Poland. In global comparison, the EU continues to be outperformed by the US, Japan and South Korea.
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