Eco-Innovation – Pioneer of the Green Economy in the Development of the Entrepreneurial Environment. Study Case: Eco-Innovation Performance across Post-Socialist Countries in Europe

Abstract

Innovation has the potential to increase the competitiveness and efficiency of economies. Environmental innovation helps companies improve the use of valuable resources and generate sustainable solutions that reduce the negative impact of the economy on the environment. In this paper, we provide a background on eco-innovation and methods to measure it. The purpose of this study is to underline the importance of eco-innovation for business reputation and to identify the main discrepancies between the post-socialist countries in terms of eco-innovation. Despite significant differences between countries and economic sectors, there are not enough companies implementing eco-innovation on the scale that is needed. Of all the post-socialist countries, the Czech Republic is the best practical example for eco-innovation activities. Despite the opportunities that environmental innovation presents to companies, more efforts are required to close the implementation gap

Keywords

• eco-innovation
• green economy
• entrepreneurship
• sustainability