Slovakia is a moderate innovator

Slovakia scores the worst in venture capital expenditures, R&D expenditures in the business sector, lifelong learning, and opportunity-driven entrepreneurship.

Illustrative stock photoIllustrative stock photo (Source: TASR/AP)

Employment impacts and sales impacts are the strongest innovation dimensions, with Slovakia performing above the EU average, the European Innovation Scoreboard 2020 report suggests.

Everything you need to know about the Slovak business environment. For more details visit shop.spectator.sk. Everything you need to know about the Slovak business environment. For more details visit shop.spectator.sk.

Overall, Slovakia belongs to a group of Moderate Innovators, with a score below the EU average. Over time, its performance has increased relative to that of the EU in 2012.

Slovakia scores particularly well on Employment in fast-growing enterprises of innovative sectors, Sales of new-to-market and new-to-firm product innovations, Medium and high-tech product exports, and New doctorate graduates.

Finance and support, Innovators and Intellectual assets are the weakest innovation dimensions. Overall, Slovakia’s lowest indicator scores include Venture capital expenditures, R&D expenditures in the business sector, Lifelong learning, and Opportunity-driven entrepreneurship.

On the other hand, it shows the highest positive difference to the EU in Total Entrepreneurial Activity, Value-added share foreign-controlled enterprises and Average annual change in GDP, and the biggest negative difference in Top R&D spending enterprises, GDP per capita and Buyer sophistication.

The European innovation scoreboard provides a comparative analysis of innovation performance in EU countries, other European countries, and regional neighbours. It assesses the relative strengths and weaknesses of national innovation systems and helps countries identify areas they need to address.

The best country in this sense is Sweden, which continues to be the EU innovation leader, followed by Finland, Denmark and the Netherlands.

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