During the current economic situation innovations are viewed as vital in the global competition. For this reason the European Commission investigates the innovation capability of the member states on a yearly basis and compares these with other countries. In the 2012 listing Finland was positioned in the EU top 4 with Sweden, Germany and Denmark.
Finnish knowhow is especially in the knowledge intensive industries; the Finnish exports of services in the knowledge intensive industries was the highest in the EU in 2012. In addition the networking of innovative small and medium sized enterprises has been growing relatively fast. One of the key strengths of the Finnish system is the state support for innovative companies in the form of various financing options and supports.
However, the leading innovation countries of EU are far behind Switzerland, which has been the global innovation leader for many years. In addition South Korea, USA and Japan are ahead of EU in innovation, although EU has managed to narrow the gap between USA and Japan. EU keeps struggling with business R&D expenditures, public-private co-publications and patents.
Read more: http://europa.eu/rapid/press-release_IP-13-270_en.htm
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