What can be learned from Israel by the European Union in the field of innovation?

Abstract

This paper looks at innovation from a theoretical and practical perspective and recent developments, including open innovation and its importance for the EU. In the first section, the authors establish a link between the pursuit of competitiveness and R&D funding, innovation and economic growth. They then discuss the current status of the EU and its member states at EU level and globally, and present expert views on the concerns and identified challenges that the EU can and would best address. The core section presents the case of Israel, which could be used as best practice for the EU in several areas. Within ten years, Israel has succeeded in becoming one of the leading countries in the innovation race. Finally, the authors critically reflect on the material presented in the paper and draw several conclusions.