Funding Innovations In Globalized World: The Czech Approach
Abstract
Motivation: The Czech government considers innovation policy a key component of the effort to improve the business environment. Globalization and support of competition keeps prices low and output high. In theCzechRepublic the relevance of good general business conditions in encouraging research and ensuring that the economy benefits from the international diffusion of innovation.
Problem statement: There is a fundamentals question about the relationship between competition and innovation which it has been subject of many theoretical debates. Timely implementation of innovations helps the county to reach the necessary competitive advantage and create and maintain competitive position in today’s demanding international environment.
Approach: This research work uses different research strategies to explore the current competitive position and innovation potential of companies in theCzech Republic. It examines the institutional setup and financial background of innovation generators. It explores the official administrative and financial support of innovations. Impact of globalization on innovative activities is highlighted. In the regional context an important role is represented by some specific interests and local assignments.
Results and conclusion: The results of this study bring the characteristics of innovation environment and innovation potential of theCzechRepublic, which can be used as a base for decision making on governmental, regional and professional levels.
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