Five years after Europe launched a plan to foster innovation, EU-funded researchers are taking stock of its impact on growth and jobs. Their analysis aims to help policy-makers calibrate on-going policy actions and plan future ones.
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The EU launched the Innovation Union in 2010 as part of its Europe 2020 strategy for growth and jobs. The plan commits EU countries to 13 general objectives and 34 associated policy actions aimed at stimulating innovation.
The EU-funded project I3U is now evaluating the achievements to date of each policy action, with emphasis on their effects on innovation, the economy and job creation.
Their research will include:
- collecting data and identifying the mechanisms of innovation
- estimating the impact of innovation policies by using theoretical and econometric modelling techniques
- developing a conceptual model of the innovation system, leading to a reference tool for analysing the impact of the Innovation Union
- assessments of the economic effects of Innovation Union at European, national and regional levels
The project is intended to provide policy-makers with a greater understanding of the impact of innovation policy on the economy. Policy-makers may in turn use the research to increase the effectiveness of current policies to stimulate economic growth and jobs.