19th of May

Innovation and creative capability of the Baltic States needs a catching-up with the West

2018-07-24 14:27 Share:

‘The economic transformation has not yet raised the Baltic States to the Western European level, but the efforts already made are reflected in specific indicators. Most capital cities tend to have higher innovation scores than the rest of the countries. This is not a surprise since companies’ headquarters are mainly located in capital cities/regions. Despite of the highest growth rates for several headline targets being recorded in the eastern Baltic Sea countries, most regions within these countries are still catching up to the Western part of the Baltic Sea region’, states a policy paper from Hamburg Institute of International Economics (HWWI).

Along with Lithuanian Innovation Centre and six more partners the HWWI belongs to the international consortium GoSmart BSR that aims at promoting innovation and increasing capacity of innovation actors to apply smart specialisation approach within Baltic Sea Region.

In the framework of consortium, the institute has provided an insight on the innovation capability of the Baltic Sea Region. According to it, Lithuania along with Latvia, Estonia and Poland still need some catching up to do, but the good news is that during this process the research and development capacities in these countries will expand and create potential growth.

The paper suggests that catching up process would be more efficient through smart specialisation strengthening and encourages to boost transnational cooperation among industry, the research & development sector, and authorities in employing smart specialisation strategies in regions in the eastern parts of the Baltic Sea region.

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