The impact of investment in science on the growth of economic competitiveness

Innovation is a key driver of economic growth and competitiveness. Policy makers need adequate and effective tools to assess and monitorinnovation performance in order to design an appropriate mix of development policy measures. The project analyses the impact of investments inscience, research and innovation on economic growth (competitiveness) of the economy. By analysing the above relationships, it is possible tounderstand how the country can improve its competitiveness and sustainable development in the global economic environment through investingmore in science, research and innovation. By extending the European Innovation Scoreboard (EIS), we create a conceptual model and aninternationally comparable methodology to measure the relationship between the impact of investment in research on the growth of innovation andknowledge transfer to the economy with the outcome of growth and an increase in the competitiveness of the economy. We are interested in theinternational comparison of the activities of research institutions and companies as well as government instruments and their impact on the growthof value added and the indicators of the European Innovation Scoreboard. For the three top innovation leaders according to the EIS, we thereforecompile a systematic review of the national innovation systems at the level of the activities of research institutions and companies as well asgovernment measures. We thereby also identify outstanding indicators for the innovation success of the innovator countries. The empirical resultswill serve as a basis for developing recommendations for the improvement and introduction of new instruments and policy measures aimed atincreasing the effectiveness of investments in scientific research and innovation activities.