Uusi-Honko presentation 22 BSPC

Slide 1:Nordic Innovation Initiatives and Regional Synergies The 22nd Baltic Sea Parliamentary Conference Pärnu, August 25.-27. 2013 Heikki Uusi-HonkoSlide 2:Nordic Innovation and the Nordic Political Cooperation28/08/2013Copyright © Nordic Innovation 2013 . All rights reserved.2The Nordic Council ofMinisters for Business AffairsEK-NCommittee of senior officials fromIndustry and Trade departmentsNordic InnovationBoard of DirectorsNordic InnovationSlide 3:Focus on Nordic Trade and Innovations28/08/2013Copyright © Nordic Innovation 2013 . All rights reserved.3Nordic Innovation runs projects and programs:Stimulating innovationImproving the framework conditions for Nordic markets and exportsWe work both top-down and bottom-up in delivering value-added toPolicy-level / ministriesImplementation level / agenciesCompanies, research organisations, etc.The goal is a unique contribution based on Nordic added value:Synergy in co-operationVisibility & critical massImproved cost efficiency & co-ordinationSlide 4:Nordic Innovation’s Main Initiatives 201328/08/2013Copyright © Nordic Innovation 2013 . All rights reserved.410 thematic initiatives including areas such asNordic BuiltEntrepreneurshipFreedom of MovementSeveral of the issues are topical for the whole Baltic Sea RegionFocus on both Demand/Market and Supply/RTDSlide 5:The Benefits and Goals of Regional Cooperation in Innovation28/08/2013Copyright © Nordic Innovation 2013 . All rights reserved.5Synergy in cababilities | Other network synergiesCost sharing | Avoiding duplicaciesCritical Mass(E.g. in achieving visibility and leverage on international arena). | Regional Home MarketSlide 6:Thank You!Slide 7:28/08/2013Copyright © Nordic Innovation 2011 . All rights reserved.7Why Focus on Innovation is important?Firm AInvestment onInnovationFirm A ProfitFirm ANew Knowlegde, Better products, Lower CostsMarketCompetitionOther Firms’New Knowlegde, Better products, Lower CostsOther Firms’ ProfitCustomer BenefitModified from Adam B. Jaffe (1997).PrivateReturn onInvestmentSpill-overReturnInnovation is the constant flywheel of developmentA clear social return is associated to (private) innovation