THE INNOVATIVE POTENTIAL OF THE VISEGRAD GROUP REGIONS
THE INNOVATIVE POTENTIAL OF THE VISEGRAD GROUP REGIONS

Summary/Abstract: Innovation is one of the basic factors of the region's competitiveness. The involvement of the authorities and the economic environment in the process of creating new products and services is necessary but also insufficient for building the attractiveness of a specific region. The attitudes of the society are also important, especially in the area of raising the level of human capital and the use of new competences and knowledge in research and business institutions. The innovative potential of the Visegrad Group countries' regions is still found to be low, when compared to the average EU level. This was confirmed by both partial indicators and a summary ranking of innovativeness. The capital regions were distinguished positively, which is related to a higher level of entrepreneurship, the presence of higher education institutions, research institutions, and foreign investments. It is also worth noting that among the V4 countries, the highest rates of innovation potential were achieved by the Czech and Hungarian regions. This concerned, among others, private spending on R&D, lifelong learning, employment in the high-tech sector, and the patent activity. Nevertheless, it should be emphasized that in many regions of the V4 Group the distance to the average EU level in terms of particular elements of the innovation potential in recent years has increased significantly. The expenditures of enterprises on research and development, participation in lifelong learning, or employment in the high-tech sector can serve as examples. This means a deterioration in the competitiveness of the economies of the countries considered. However, there is certain potential that, when properly used, can reverse the negative tendencies. The strength of the Visegrad Group is human resources and a high level of education of the society. Therefore, it seems that the right direction of improving the innovation policy of the countries discussed should be striving to increase the quality of education, especially in the areas related to science and technology. Taking efforts to improve the quality of human capital may translate into an increase in the efficiency of enterprises and improvement of their technological advancement.

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