On March 13th at a conference hosted by the European Central Bank and the Massachusetts Institue Of Technology, Mario Draghi – ECB President – spoke about some suggestion for european companies.
The main areas were: human capital, R & D, intangible assets and a more dynamic system.
Draghi followed a list: the barriers to overcome to accelerate innovation.
Innovations may be adopted to their own context and new technologies must be adopted by Companies as a part of their prodcution processes in order to gain the maximum efficiency from them.
Increasing public spending in R & D, as there are only three eurozone countries to reach the Global Top Ten.
Transfer innovation from the most advanced companies to the most lazy, as the manufacturing sector is in line with that of companies in other developed economies. Slower innovation in the service sector must be improved and managed to sustain innovation.
How to spread innovation? This is the big question.
Mario Draghi cites three examples:
Investing in human capital will lead to a higher productivity growth. This will be crucial in order to to defend the European model of higher wages and social protection. So, to fight a sense of economic insecurity currently prevailing in several advanced treasurers, this may be implemented.
Investments in intangible assets such as intellectual capital, patents, trademarks, software, models, are important for the company and include its own R & D and development of a company’s intellectual property, as well as investments in branding, software and databases.
Increasing economic dynamism, to absorb innovation capability where the context in which businesses operate is essential. From competitive activities at the highest rate of birth of companies, it is important to encourage companies to embrace innovation.
Ultimately, the recovery in productivity is the priority for Mario Draghi. And before leaving, it is a priority that the diffusion of new technologies eisstenti reaches the largest number of companies.
