Factors hindering successful Implementation of Innovation Policy

Gintare Rumbinaite

Abstract


Purpose. This paper attempts to identify the main factors disturbing triple Government – Academia – Industry collaboration for more efficient and effective use of public investments realising state innovation policy in Latvia and Lithuania.

Methodology. Relevant literature and document analysis has been conducted to reveal factors hindering successful implementation of state innovation policy in Latvia and Lithuania. Quantitative analysis of statistical data from Eurostat database has been made for triangulation of research.

Results. Classification of major barriers for initiation, creation and implementation of successful Government – Academia – Industry collaborations has developed. A sound comparative analysis of investments in R&D has been made.

The theoretical contribution. The paper enlarges theoretical base and knowledge of factors influencing economic growth of a state.

Practical implications. Research finding will be used for the development of the model of cooperation of the public sector, research, education and business that would ensure the efficiency of the use of investment in the research in compliance with the smart specialization strategy.

Acknowledgement. The paper was supported by the National Research Program 5.2 “Economic Transformation, Smart Growth, Governance and Legal Framework for the State and Society for Sustainable Development - a New Approach to the Creation of a Sustainable Learning Community (EKOSOC-LV)”

 

 

Keywords: innovation policy, Government-Academia-Industry, collaboration.

Paper type: Theoretical paper.

 

 


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