Most companies have not received public financial support for R&D or other innovation activities since January 2011, according to the European Commission's latest 2014 Innobarometer survey.
“The role of public support in the commercialisation of innovations”.survey says access to finance is still the main obstacle encountered by companies in the commercialisation of their products or services. However, 66% of companies say that they have introduced at least one innovation in the last three years and for 61% of companies, innovative goods or services contributed 25% or less to annual turnover in 2013.
The survey was designed to benchmark innovation activities and to explore barriers to commercialisation and the role of public funding in the diffusion of innovation. It was conducted in the 28 EU Member States as well as in Switzerland and the United States.
European Commission Vice President Antonio Tajani, Commissioner for Industry and Entrepreneurship, said:
“Innovation plays a pivotal role in sustaining and improving Europe’s overall competitiveness and growth. We need to work closely with Member states to help SMEs gain access to credit so as to empower them to successfully commercialise their innovations”.
Lack of financial resources hinders the commercialisation of innovations
The survey covered the following areas:
Companies that develop innovations: 66% of companies have introduced at least one innovation since January 2011.
The impact of innovations on turnover: For 61% of companies, innovative goods or services contributed 25% or less to annual turnover in 2013.
Actors involved in the development of ideas for innovation: More than three quarters of companies say management (87%) and employees (78%) contributed to the development of ideas for innovations.
Types of public support received for innovation activities and its importance for innovation:
- Most companies (91%) say they have not received public financial support for R&D or other innovation activities since January 2011;
- Even companies that received public support for commercialising their innovations are most likely to say this support was not important (67%).
Barriers to commercialisation of both innovative and non-innovative products and services: 68% of companies consider the lack of financial resources as the main obstacle to the commercialisation of innovative products or services.
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