INNOVATION - DETERMINING FACTOR OF COMPETITIVENESS AT THE EUROPEAN LEVEL

Abstract

Sustainable growth and job creation in European countries depend, perhaps more than ever, on excellence and innovation, which are the determining factors for the development of a sustainable economy. In this context, the role of the private sector that promotes and develops innovative solutions has become essential, especially since innovation is not limited to production processes, but can encourage and support new business models. At the same time, at the institutional level, concerns regarding the promotion and consolidation of innovation have intensified in recent years, being supported by broad strategies and action plans in all European states.

Keywords

• innovation
• competitiveness
• sustainable development
• clusters