Innovation and Knowledge in Creation of European Union Global Competitiveness and Social Security from Regional Perspective

Abstract

<em>The main aim of the paper is analysis of the innovation and knowledge in creation of European Union global competitiveness and social security from regional perspective. To the particular goals of the research belong the presentation of the knowledge-based-growth (KBG) theory, the concept of innovation system, the innovation system and innovation process, constructed advantage, the Triple Helix model, Europe 2020 strategy and Innovation Union and Horizon 2020 as the financial instrument implementing the Innovation Union. The important results of the research is the conclusion that in the innovation process also in the European Union very important are the connection between science (universities), market (industry) and government at the regional level. There is positive dependence between innovation activity and effectiveness of the innovation process. The more interaction and cooperation also the creation of enterpreunership it can observe on the regional level than on the state. The new programme of the scientific and innovation research Europe 2020 and Innovation Union are very important factors of the economic growth, social security and global competitiveness of the European Union. The new economic narrative of the European Union is built around three main strands–boosting investments, pursuing structural reforms and fiscal responsibility. </em>