New indicators for innovation By investigating the number of patents produced in Europe and beyond through a set of sophisticated indicators, the EU can fine-tune policies to encourage innovation and competitiveness. Climate Change and Environment © Thinkstock Innovation is an important driver of the economy, and is reflected in the use and value of patents that generally emerge from industrialised nations. A closer look at these patents that also considers related angles such as economy, gender, education and mobility enables the EU to design better policies that enhance innovation. This was the purpose of the EU-funded project 'Innovative S&T indicators combining patent data and surveys: Empirical models and policy analyses' (INNOS&T). The project documented science and technology indicators in Europe, Japan and the United States to analyse policies and eventually propose new ones. It studied different uses of patents (commercial use, patent licensing, patent sale, etc.) and through the data produced country profiles on patent links to science and technology. This was coupled with studies on how gender, wage and working hours affected innovation and patents. Key information on innovation indicators came from surveying inventors and analysing patents linked to the European Patent Office in Europe, Israel, Japan and the United States. It also came from existing indicators on patents, publications, companies, inventors, research institutions, sectors and regions. From all the data, the project team built models and analysed policies using innovation indicators. In addition to enhancing innovation policy, the newly established indicators could help clarify a variety of issues such as the size and type of organisations that favour innovation. They would also help in analysing competitiveness in Europe vs. Japan and the United States, in addition to identifying key sectors or technologies for fostering employment and growth. Efforts were made to continue disseminating the project results through a series of reports beyond its mandate to various stakeholder groups in order to support innovation-friendly research and ideas. These new, systematic and more specific science and technology indicators will undoubtedly help improve policies on economic use of patents and innovation performance, effectively strengthening links between industry and innovation. Europe's competitiveness and innovation climate will be the beneficiaries of this enterprising endeavour.
