Friday, September 13 13:50:24
The European Commission's proposed new "Indicator of Innovation Output" places Ireland 3rd in the EU Member States for getting the most out of innovation and ranked it as a "top performer" with a score of 124.8, well above the EU average.
The results show that Ireland is getting the most out of innovation when it comes to ideas from innovative sectors being able to reach the market and which, in turn, means providing better jobs and being more competitive.
Commissioner Maire Geoghegan-Quinn, responsible for Research, Innovation and Science, said: "The European Union must turn more great ideas into successful products and services in order to lead in the global economy. We also have to close a worrying 'innovation divide'. The proposed indicator will help us measure how we are doing and pinpoint areas where countries need to take action".
Overall there were 4 "top performers" identified according to the country scores, Sweden, Germany, Ireland and Luxembourg with scores of over 120 and high values in all four components.
Top performers in the EU share a number of strengths including highly skilled labour forces and a business environment that encourages fast growing innovative firms, resulting in a high level of patenting, competitive exports and high employment growth.