Europe

Challenges for a new economy of innovation

The ongoing COVID-19 pandemic will force most companies and other organizations to redefine their strategic vision for the future. More than ever, this will be a time for an effective economy of innovation that is focused on value creation and on talent creativity.

At a time when there is more convergence in science and innovation, companies, universities, as centers of competence, have the opportunity to develop a new agenda that is based on a commitment between the excellence of strategy and the capacity to ensure effective results. We need a new ambition of giving innovation a clear role in the competitiveness agenda of regions and countries.  Our society and economy are now facing new challenges of innovation, and everyone will be a key player in this agenda of the future.

Innovation demands an effective partnership between all of society’s actors  – the state structures, universities, companies, and civil society – in order to build a real strategy of confidence in the implementation of different policies. The focus on innovation and knowledge as the drivers of creating added value with international dissemination is a unique challenge that may be the answer to a new way of interaction between those who have the responsibility of thinking and those that have the responsibility of producing goods and services.

This will be the point of departure to give the economy of innovation a sense of trust that is essential to its success.

These ecosystems of innovation must be centered on an active entrepreneurial culture and attitude. Companies and universities in the new knowledge economy often have an effective negative attitude towards financial risk. We need our economy to have a new challenge. These ecosystems of innovation must be a real platform of competence sharing that is able to contribute to a more entrepreneurial economy that is centered on new areas of knowledge and new sectors of value.

In a modern and active economy, the keyword is co-creation. To promote a dynamic and active creation process, one that involved companies and universities, is the main challenge in the coming years.

An economy of innovation must be the most complete example of a positive attitude towards the future. Capital, talent and networks must be the new competitive advantage of those we believe in a new sense of modernity, added value and excellence. This must be a very clear idea that suits the biggest challenges that this economy of innovation faces. The economy of innovation is not determined by law but is built on every single act of cooperation between companies and universities who face a challenging agenda of value creation with global influence and participation.

The Coronavirus crisis or the last year and a half has been a very hard time. It is in these hard and complex times that we must face the challenges of the future. The new economy of innovation that we want to build and consolidate is a good example of this process of restarting, reinventing and reconnecting – all of which are key drivers for the future of our common society.

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