Opinno is expanding to new parts of the globe, yet the headquarters remain in sunny Madrid, Spain. The European Union’s commitment to innovation and sustainable growth is therefore significant to us, as it affects the future of our company and the companies we work with. The EU has revealed a 2020 EU Innovation strategy, and among the seven flagship initiatives is an Innovation Union Plan, which is dedicated to smart, sustainable, and inclusive growth throughout Europe.
The innovation strategy aims to create an innovative, productive, and globally competitive social market economy. Implementation of the strategy is measured by national reports which identify whether country-specific targets have been made in regard to employment, climate change, energy, education, poverty, social exclusion, and research and development. Some of the overall EU targets of the innovation strategy include:
75% of people between the ages of 20 and 64 are employed
Rates of young school dropouts is less than 10%
20% increase in energy efficiency
What is the European Innovation Union?
An increasingly globalized and interconnected world is creating challenges for European businesses and people, and increased innovation performance is the solution. The Innovation Union has therefore been created to create jobs, increase economic activity, decrease the impact of global warming, and improve smart and green transport. As of this year, Europe has remained a high player in maintaining its share of world exports at 20%, but times are changing, and without an innovation strategy, Europe is at risk of falling behind.
Countries like Germany and Sweden who have invested in research and development have recovered faster in the economic crisis, and the European Innovation Union hopes to encourage those investments. The Innovation Union emphasizes that “ideas need an innovation-friendly environment,” which is a gap they hope to fill. This idyllic environment, however, is met with many challenges. The regulatory system is outdated, there is a slow standard-setting, and certain countries and regions dedicate minimal efforts.
The Innovation Union hopes specifically to become an extraordinary player in the science field, to encourage innovation partnerships and to improve productivity by removing the “bottlenecks” by improving our systems and processes. The efforts made by the Innovation Union will in turn benefit entrepreneurs and businesses, citizens and public authorities, and researchers and engineers. Due to the positive change that the Innovation Union can make, it has been placed high on the political agenda.
Research and Innovation Policy
Opinno’s business model is representative of Europe’s 2020 policy goals, which include:
Open to the world
Limitations to Innovation Plan
Without growing market conditions, government intervention cannot ensure successful implementation and growth. However, an innovation plan with clear government dedication will encourage innovation evolution. Though a European Innovation Union exists, much of the change and innovation efforts will need to be led and prioritized by the member states. However, the Innovation Union recognizes this limitation is committed to acting as a partner to the member states.
Opinno’s Role in Europe’s 2020 Innovation Strategy
Opinno is a trend setter when it comes to Europe’s 2020 Innovation Strategy, as our business model is centered upon the policy goals towards an open ecosystem. Further we are an example of what successful innovation partnerships look like, which is a primary aim of the Innovation Union. Opinno is therefore playing their role to make innovation a success in Spain, Europe and around the world.
“There are five principles for innovation: collaboration, transparency, sharing, interdependence, and integrity” Don Tapscott