Act of 29 July 2005 on Certain Forms of Support for Innovative Activities as a Tool for Economic Stimulation

Abstract

Development of Knowledge-Based Economy (KBE) depends on numerous factors and the most important is the cultural and organizational/technological transformation of the economy. The key factor in creating KBE in Poland is the stimulation of corporate innovation. One of the actions aimed for enhancing innovation in Polish economy is the enactment of regulations that facilite the development of small and medium-sized businesses.  On July 29th, 2005, Polish Sejm passed the Act on Certain Forms of Support for Innovative Activities (Dz.U. Nr 179, poz. 1484). Its main goals are: first, to stimulate economic competitiveness and innovation by raising expenditures of private sector on research and development, and second, to increase the effectiveness of managing public resources allotted for research and development. The Act is designed to encourage entrepreneurs to coparticipate in stimulating innovation processes in Polish economy by taking part in funding and realization of scientific research.