23 May 2012

The power of simplicity: Towards a Smarter and Streamlined Innovation Policy in the EU

Andrea Renda

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Published jointly with Ernst & Young, this report proposes a new approach to EU innovation that aims to improve its effectiveness and reduce administrative burdens for companies relying on EU funding channels. The analysis is backed by a survey of 680 business leaders from 15 EU member states to obtain their perspective on the EU’s innovation policy. Chief among the report’s recommendations are the following:

  • Governments should act as leaders and investors by creating the main building blocks of an innovative environment – world-class infrastructure, a high-performing education system, and research and innovation-friendly legal rules.
  • Governments should create funding and facilitate initiatives to strengthen links between researchers, entrepreneurs and private investors
  • Government has the key task of ‘nudging’ existing innovation efforts towards long-term policy goals. This should mostly occur through the strategic use of public procurement.

Andrea Renda, CEPS Senior Fellow, was among the main authors of this report.