Intangible investment - like scientific R&D, training/ human capital, IPRs, architectural and engineering designs, market research, organisational structures among others - are at the core of innovation dynamism and smart growth. However, we lack reliable measurement and comparable data in order to analyse their importance across European countries and global context, regions and firms in the context of Europe 2020 and Innovation Union Flagship.
Three research teams, INNODRIVE and COINVEST (both funded from the SSH FP7) and Conference Board including the world leading scientist on intangibles Carol Corrado have set up a joint harmonised database on macro intangible investment for 25 EU Member states and the USA. This voluntary cooperation ensures that the estimates on intangible investment are harmonised creating a unique, publicly accessible database for research and policy making purposes.
"The joint data base on intangibles lays the fundament for a common European, cross-country understanding how intangibles contribute to innovation and smart growth. It abolishes the fragmentation of data, measurement and finally policy contributing to the creation of European Research Area (ERA)" (Director for European Research Area, O. Quintana-Trias, DG Research and Innovation).
The methodologies and harmonised data on intangibles as well as its use for economic analysis was presented in the conference and commented both by the scientific community and policy makers from the European Commission and the OECD: