Innovations in the Strategy of the European Union’s Economic Growth

Abstract

The main aim of the paper is the presentation of the innovation system in the strategy of the European Union’s economic growth. According to the new theory of growth being the best theoretical foundation for the concept of the innovation system, the primary factor influencing the economic growth is the endogenous technological progress. To the particular goals of the research belong the presentation of the model of innovation system, theoretical concept of the innovation system and innovation process, constructed advantage, the Triple Helix model, Innovation Union, Europe 2020 strategy, Horizon 2020 as the financial instrument implementing the Innovation Union. The problems were researched by quantity and quality scientific methods. Utilised also, deduction and induction, statistic and prognostic methods. 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, market (industry) and governance. There is positive dependence between innovation activity and effectiveness of the innovation process. The more interaction and cooperation it can observe on the regional level than on the state. The new programme of the Europe 2020 and Innovation Union are very important factors of the strategy the EU economic growth.