This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
#Open journalism No news is bad news

Your contributions will help us continue to deliver the stories that are important to you

Support The Journal
Dublin: 16 °C Saturday 15 August, 2020

Ireland above EU average for innovation - study

A Europe-wide study rated us highly for research and skills – but noted a lack of financial support for innovative products.

Image: Satoru Kikuchi via Flickr

IRELAND IS PRODUCING better innovation than many other European countries, according to a new study which found we are above average in the EU.

Excellent research systems and good human resources were particular strengths highlighted in the Innovation Union Scoreboard report on all 27 EU member states.

However, the report noted a “strong decline” in small businesses introducing innovative products, and said entrepreneurship was a weakness overall.

The availability of finance was also cited as a drawback. Organisations representing small and medium enterprises have repeatedly highlighted difficulties in securing credit from banks.

Sweden, Denmark, Germany and Finland topped the EU chart, qualifying as “innovation leaders” with performance well above average.

Ireland was part of a larger group dubbed “innovation followers”, just above the average mark. Ireland came just behind Luxembourg and the UK, and just ahead of France.

More: Small businesses report more difficulty in securing bank credit>

  • Share on Facebook
  • Email this article

About the author:

Michael Freeman

Read next: