Slovak Economy Ministry wants to intensify business innovation activities

During its election term, the Ministry of Economy and Construction wants to focus on increasing innovation activities in the business sphere, the SITA newswire reported.

During its election term, the Ministry of Economy and Construction wants to focus on increasing innovation activities in the business sphere, the SITA newswire reported.

“The government is clearly defining interdepartmental competencies in the area of research and development and innovation with the goal to increase innovation activities in the business sphere as well as coordination of state institutions in their support,” writes the ministry in an unofficial version of the government's programme for the ministry, acquired by the SITA newswire on July 21.

The government, in cooperation with business sphere, should also re-evaluate its support and motivation mechanisms for the growth of innovations in companies and intensify support for cooperation by universities, research institutes and enterprises, while drawing from the best examples from the EU, including the introduction of indirect support mechanisms for innovations.

“The government will emphasize interconnecting innovations and direct foreign investments, aiming at sustainable growth of the Slovak economy,” the ministry further wrote in the draft programme statement. According to the ministry, Slovakia is among the countries with the lowest performance in innovation in international comparisons, reaching only 66 percent of the EU average. The average expenses for innovation activities in the EU represent 1.82 percent of GDP and it is only 0.45 percent of GDP in Slovakia.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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