Ministry of Economy targets innovations

Economy minister Juraj Miskov plans to increase the level of spending on innovations over the next few years, with an additional EUR 829,000 earmarked for 2011 alone.

The Ministry of Economy wants to use the money to support small and medium-sized companies in particular, as it sees support for innovations as a key tool for ensuring Slovakia’s future development.

In 2012 the Ministry wants to use EUR 2.26 million for this purpose and EUR 2.36 million  in 2013, with the money to increase the effectiveness of the overall system of allowing innovations to be developed by way of a set of thirteen measures compiled by the Ministry.

These measures deal with things like infrastructure, human resources and education, in the hope of boosting Slovakia’s innovation potential, which is currently only at around 66% of the EU average in terms of output.

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