BRATISLAVA, June 17, (WEBNOVINY) — Slovakia ranks among the countries with the lowest innovation performance in international comparison. Among the EU’s 27 member countries, Slovakia ranks 23rd in terms of innovation performance and falls into the group of so-called catching-up countries, concludes the Economy Ministry in its report on fulfillment of the innovation strategy and innovation policy that the Cabinet is to review.
The Economy Ministry sees several main reasons behind Slovakia’s lagging behind developed countries, including low expenditures of the public and private sector on research and development. While EU average expenses on this segment reaches 1.82 percent of GDP, Slovakia’s only spends 0.48 percent of its GDP on research and development. “The Cabinet ascribes this unfavorable state to the weak base without specific goals, lack of big companies that invest in research, inefficient support of the public sector, unsatisfactory motivation of research workers, etc.,“ stated the Economy Ministry.
The Slovak government’s Minerva 2.0 project sheltered by Government Plenipotentiary for a Knowledge-Based Economy Martin Bruncko should boost competitiveness of the Slovak economy. The measures defined in Minerva 2.0 project are to help direct the current economic growth and invest in a modern innovative environment. “Minerva’s aim is to create conditions to catch up with the living standards of the most developed European countries,” stated Government Plenipotentiary for a Knowledge-Based Economy Martin Bruncko.
The prepared reforms are to facilitate an influx of direct foreign high-tech investments and create space for the establishment and development of local technological firms. The measures defined in Minerva 2.0 project concentrate on three areas: education, research and development, and innovative business. The Minerva 2.0 strategy has been submitted for interdepartmental review. The first, simple measures should be implemented as of the beginning of next year.
SITA
