Innovation in Central and Eastern Europe

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No need to hide, that this is going to be vital in the ever increasing competition.
During the past years there has been a positive development in the Czech economy, the Czech Republic has one of the highest growth rate in EU, one of the highest percentage of FDI in Europe and one of the highest percentages of the workforce employed in high tech sectors.

What might be seen as a paradox is the fact that when it comes to innovation the Czech Republic is to be found in the lower end which is likely to cause problems in the near future.

The Czech Republic and the companies here are an integral of the global economy and seen in the light of the increasing global competition and the increased cost level operating in the country, this development means that The Czech Republic and companies located here cannot only rely on operation, based on the moderate level of costs.

In fact, The Czech Republic has the potential to offer much more than low cost operation since The Czech Republic contains factors such as a favorable business climate, a highly skilled workforce and a well developed infrastructure

No doubt that the government is aware of the above mentioned problematic perspectives and a lot is done to improve the innovativeness primarily in form of increased focus on technological innovation and via various incitements to increase R&D activities. This is all good initiatives, but still there is a long way to go when it comes to create industry academia corporation and innovative academic organizations, bound to create innovation