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Brussels, 27 May 2014
Innobarometer 2014: Lack of financial resources hinders the commercialisation of innovations
The European Commission has published today the Innobarometer 2014 survey to understand the views and attitudes of EU enterprises towards the role of public support in the commercialisation of innovations.
The survey highlighted that the main hurdle to the commercialisation of innovative goods or services is the lack of financial resources.
The results of the Innobarometer are in line with the Innovation Union Scoreboard 2014 which confirmed that the EU is still lagging behind global leaders. Notably, while innovation performance overall is improving in all Member states, the commercialisation of innovation (SMEs introducing product innovation / sales of new to market and new to firm innovations) is making progress only slowly.
Innobarometer 2014 - Main results
1. The majority of companies have introduced at least one innovation in the last three years:
2. Innovative companies are more inclined to collaborate with partners:
3. Very few innovative companies received public support:
Most companies say they have not received public financial support for R&D or other innovation activities since January 2011 (91%)
4. The majority of innovative companies do not perceive public support as effective enough:
5. Access to finance is main barrier for commercialising innovative products/services:
6. Public procurement still underexploited as a means to spur innovation:
The European Commission recognises the vital role innovation plays in Europe’s ability to compete in the global economy, and is involved in guiding and implementing policies and programmes that support the development of innovation. A cornerstone of this drive is the important role public procurement plays in fostering innovation from businesses and entrepreneurs.
In this framework, the Flash Eurobarometer “The role of public support in the commercialisation of innovations” was designed so as to to benchmark innovation activities in a range of areas, as well as to explore barriers to commercialisation of goods and services and investigate the role of public funding in innovation.
One of the main findings of the survey is that the lack of financial resources represents the main barrier encountered by companies in the commercialisation, marketing and distribution of their innovative products and services.