Characteristics of the institutional conditions for innovation support in Austria with a focus on the educational system

Abstract

The article is part of the research on innovation. Its aim is to discuss the thesis assuming that the effectiveness of the functioning of the innovation support system in Austria results from the organisation of the educational system and, above all, from the organisation of the institutional innovation support system. The justification of the objective is to refer to the innovation rankings of economies according to which Austria is the leader in the key category from the point of view of innovation, i.e. cooperation between business and science. The findings of the paper, resulting from the secondary analysis of the data and source materials, indicate that the effectiveness of the system of innovation support for enterprises in Austria is due to the large amount of money invested in research and development, the promotion of lifelong learning, the high awareness of the role of the creative industry in stimulating innovation, the involvement of Austrian entities in research and development projects, the transparent institutional system of innovation support coordinated by the Austrian Federal Economic Chamber. Innovation is also fostered by the state’s involvement in promoting innovation and, above all, stimulating the innovativeness of companies by establishing cooperation between companies and scientific and research institutions.