With the accomplishment of innovative activities, productivity and competitiveness of enterprises improve, an innovation friendly environment with an advanced technology is established in the region, the application of the results of knowledge improves industry, economic sectors related and services in the region i.e. the economy in the region, the cooperative skills and professional knowledge of human resources in the region as well as it retains and attracts workforce to the region.

Innovation is the key to development

Innovation and R & D as its integral part in addition to knowledge is significant even in international sense since they constitute the basis of steady development. In modern economies, the basis of competitiveness and productivity is R & D, know-how, the accumulated factual knowledge and experience of human resources, and their combined application i.e. effective economy is unimaginable without knowledge of companies, a good internal organizational system and external relations.

By today, efficient innovation has changed: market demand determines the necessity of development i.e. the need for particular products and services is clearly defined. Based on the new demands set by the market, manufacturing costs are also defined, which requires collecting ideas to design and realize the expected product or service.

The innovation development process makes multilateral demands towards SMEs: being aware of the absorption capacity of the market, higly-qualified workforce, financial capacity for developments, risk-taking skills, thorough technological grounding, accomplishment of the development process up to distribution, dynamic enterprise management i.e. knowledge orientation on the whole in the broadest sense possible.


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