Community Research and Development Information Service - CORDIS

FP5

Innovation policy in a knowledge-based economy

Funded under: FP5-INNOVATION-SME

Abstract

Knowledge is becoming a large commodity that can be traded or bartered in industry. A meeting of eight highly experienced innovation policy researchers is to focus on the EU strategy for a knowledge-based economy. They must make observations on EU innovation policy to raise the quality and efficiency of businesses. The main objective is to improve innovation and diffusion of technology among small and medium sized enterprises SME's.

The Single European Market has allowed firms to take advantage of economies of scale and it also removed duplication in the industry. A problem could be that companies have become too inward looking so, in the future, they need to view the entire world as their potential market. The main driver of innovation is competition which forces business to provide variety to beat their rivals. To aid this innovation there needs to be a system to diffuse technical knowledge to the industries. Another issue is Intellectual Property Rights in the form of patents, copyright and design registration. Companies who actively encourage their employees to explore this avenue are likely to produce more innovative solutions to problems. Innovation policy must co-operate with other EU policies to achieve the greatest opportunities for business and industry in Europe. .

Additional information

Authors: COWAN R ET AL, Maastricht Economic Research, Institute on Innovation and Technology (MERIT), Maastricht (NL)
Bibliographic Reference: EUR 17023 EN (2000) 100 pp.
Availability: Available from EUR-OP Sales Agents
ISBN: ISBN 92-828-9474-6
Record Number: 200012078 / Last updated on: 2000-07-21
Category: PUBLICATION
Original language: en
Available languages: en