Innovation vital for regions' economic development
All European regions need to focus on innovation, but 'smart specialisation' strategies that take account of local specificities are the most likely to succeed. A study published by the European Commission breaks European regions down into seven main groups and looks at the relative importance of a wide range of factors, from business R&D to education and training. The study highlights the difficulty of obtaining risk capital as one of the most important barriers to research and innovation, particularly in the light of the current economic crisis. Support for research and innovation accounts for 25% of EU Cohesion Policy expenditure.
Read the study : EU Structural Funds: support for research and innovation