Internal Market, Industry, Entrepreneurship and SMEs

Second trend report on ‘Design for innovation, smart living and innovative business models’

Second trend report on ‘Design for innovation, smart living and innovative business models’
Published on: 07/08/2017
Business innovation observatory

Read the full Second trend report (1 MB) or its Summary (68 kB). The main messages are:

  • Framework conditions should be adapted to new innovation trends, practices and models. This is a conclusion based on policy gaps and challenges identified in the report. Setting up platforms that bring together stakeholders is an important policy instrument. Specifically, problem solvers, users, various sectors and trend-specific actors should be brought together.
  • There are several obstacles to capitalising on innovative trends. Legislation issues are a significant one. Issues with standardisation, excessive bureaucracy and outdated or strict regulations add to this. Therefore, focusing on regulation are among the top recommendations of interviewed companies.
  • The trends need support to maximise their potential. Especially, the uptake of emerging trends and the upscaling and international outreach of successful practices. The main challenge is to co-design regulations and framework conditions so they provide this support.
  • Policy makers need to be more active in 'co-designing innovation'. Smart specialisation strategies emphasise this need. Regional specialisation should be a joint process instead of a top-down one. Policy makers, companies and stakeholders can achieve more when they interact.