Regional Innovation Strategies in Europe
The Green Paper on Innovation points out that over the past ten years Europe has devoted most of its efforts to increases in productivity. However, these increases can be negated if they are used in conjunction with a technology that is obsolete or obsolescent. Innovation must be the driving force behind the entire business policy, both downstream and upstream of the actual production of goods and services. European firms and governments should therefore re-deploy their efforts, improve their capability to translate into commercial successes and better fund intangible investments, which are a deciding factor for the future of competitiveness, growth and employment (European Commission 1996a).