Innovation Systems in European Countries: A SWOT Analysis

Abstract

The purpose of this research is to identify the strengths, weaknesses, opportunities and threats (SWOT analysis) of innovation systems models and their potential use worldwide. After a literature review, the authors studied five European case studies, which are described and analyzed along key dimensions derived from the case studies. The results highlight the similarities and differences between the countries. This study adds new and useful knowledge for both academics and practitioners who are interested in systems innovation. In addition to providing original guidance and suggestions, the paper also provides recommendations to implement successful adoption of the innovation systems strengths. The authors’ conclusion is that adaptation of innovation systems leads to 1) Industry Networking 2) Platform for Policy Decisions 3) High technology innovation 4) Government is an active player as Stakeholders and 5) To support the growth of the economy.

Keywords: Innovation, Economic growth, Case study, Entrepreneurial firms.