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Innovation support from EU

Zaktualizowano: 6 maj 2019

Companies in Poland can get support from the European Union. This will help to implement new technologies and, consequently, expand their offer.

Innovations and R&D projects are one of the main elements that increase economic competitiveness. Investing in them is needed to maintain stable economic growth and a highly developed economy. In developed countries, investing in innovations generates two-thirds of economic growth. It perfectly illustrates their significance for modern economies.

Poland in the European Innovation Scoreboard 2018 is described as a "moderate innovator". The leading ones are Sweden, Denmark, Finland, the Netherlands and the United Kingdom. To join the group of innovation leaders, except for scientific potential, Poland also needs the financial resources which are necessary to carry out the researches. Unfortunately, many entrepreneurs in Poland cannot afford to finance expensive researches on innovations. In that case, financial help is necessary. It may be for example EU subsidies for entrepreneurs.

The fact that the entrepreneurs in Poland invest less in innovations due to the unavailability of the financial resources, is confirmed by NIK research from 2011-2016. The report "NIK on the use of public funds for innovations", which was published in July 2018, shows that the majority of entrepreneurs give up the implementation of innovative projects when they cannot get the financial support from public entities. That is also complemented by data of the Ministry of State Treasury, according to which in 2013-2015 the per cent of large enterprises that introduced the process and product innovations was 44%, while in the case of small companies it was twice less - around 22%. Research and development are much easier to run in a large company, which market position is more stable than in the case of small and medium enterprises.

Investments in innovative research may be supported by, for example, European funds, which one can get thanks to regional, national and international programs, including Intelligent Development (Inteligentny Rozwój) and Horizon 2020 (Horyzont 2020). It is an opportunity for smaller entrepreneurs in Poland and can also compensate for the disproportions between large and small companies in Poland or increase the competitiveness of the entire economy as well.

Source: Newsweek

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