Indicators of the innovation system

The innovation capacity of a country is not only determined by its level of research and development, but also by its capacity to convert knowledge into new products, processes, organisational structures, which in turn generate economic growth. The innovation performance is also influenced by the socio-economic profile of the country, by the business environment, the degree of entrepreneurship, the access to finance…

Entrepreneurial activity

Entrepreneurship is an important element of the innovation system. Creating a new business ensures the valorisation of new knowledge or new ideas. Moreover, the intensification of competitive pressures created by the emergence of new enterprises may lead to increased productivity.