Stimulating innovation

18 Oct Stimulating innovation

Belgium Academies (ARB)

Innovation is now generally considered as an important prerequisite for a prosperous and expanding economy. As a consequence, any government anxious to boost the economic growth in its region should consider innovation as a priority. International comparative studies have repeatedly shown that, with regard to innovation, Flanders is lagging behind its neighbours despite the considerable financial means which are being spent to invigorate the innovation process. CAWET has followed with profound interest the innovation performance of the Flemish industry, and has regularly published its findings and recommendations (the last report was published in April 2001). In the present report an evaluation is made of the current innovation policy and the impact of the engaged financial means. Indeed, on the one hand injecting huge amounts of money in the economy is by no means a guarantee for a strong development of innovation. On the other hand, though, it is encouraging that progress has undoubtedly been made: innovation is now generally considered important and the government has given a high priority to innovation incentives.

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