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Innovation policy governance: sub-regional trends and findings

This chapter describes recent developments in the EESC countries in innovation policy and governance. All EESC countries have established ambitious goals for enabling innovationled sustainable development. Considerable progress has been achieved in establishing new institutions with responsibilities for science and innovation and improving legal frameworks for entrepreneurship and innovation activities. Yet, in most EESC countries legal gaps still hinder the growth of innovation-led sustainable development. Special areas of concern include venture capital investment, insolvency and FDI. National institutional frameworks are still nascent. Therefore, institutions often lack clear mandates and coordination mechanisms. Innovation policymaking remains fragmented, decreasing the efficiency and effectiveness of policy interventions. Over the last five years, the EESC countries have launched new national strategies oriented to supporting innovation, education and industrial development. To maximize the impact of policy initiatives, these countries need to foster synergies among different policy domains and strengthen positive socioeconomic externalities.

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