Innovation in Europe completely lacks 'creative destruction': Report | EurActiv

European innovation policies lack the "creative destruction" widely accepted in the US, raising barriers for businesses seeking to find new ideas and applications, according to a report compiled by the Centre for European Reform, a British think-tank. In the report, entitled 'Innovation: How Europe can take off', a series of academics give their opinions on Europe's approach to innovation policy and how it can be improved. The report's authors all broadly agree that innovation is not the same as research and development. Increasingly, it has also become a democratic process with consumers which is likely to contribute ideas as much as entrepreneurs and scientists.

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In Search of An Innovation Policy - Dr Sami Mahroun, Director. INSEAD Innovation Policy Initiative

Everywhere innovation has become a buzzword: in academic journals, popular media, corporate promotional materials and government strategies. The use of the word has rapidly expanded from a noun to its various hyphenated transmutations. Thus, today we don’t only talk of the importance of innovation to societies, but often the importance of specific types of innovation too, such as green innovation, social innovation, open-innovation. The innovation jargon has expanded exponentially with colourful analogies ranging from innovation corridors, clusters, poles, and valleys, to “disruptive” , ‘radical’and ‘incremental’ innovations.

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