Verslo inovacinės veiklos finansavimo naudojant Europos Sąjungos struktūrinių fondų lėšas Lietuvoje 2004–2006 m. programavimo laikotarpiu efektyvumo v
Evaluation of Business Innovation Activity Funding Performance through European Structural Funds in the Period of the Single Programming Document. Per

Summary/Abstract: Nowadays knowledge is a critical factor for regional economic development. Knowledge becomes the most important factor that impacts regional competetiveness. Companies do not compete through new products or services, they do compete through innovations that are placed onto the market. European Commission’s study „Performance of various state support for private research and development activity mechanisms“ identified four most significant innovation policy measures: direct measures (subsidies, grants, etc.), indirect measures (tax exemptions), risk capital and loan and indemnity measures. European Union structural funds are a great funding possibility for development of business research and development (R&D) activity. Many researchers emphasize the funding problems of innovations: small and medium enterprises use very expensive financial resources, evidence for high costs of R&D capital for large firms is mixed, there are limits to venture capital especially in countries where public equity markets are not highly developed. Therefore, further research of subsidy programmes should be carried out. In cross-country analysis one of the main innovation support indicators is country’s expenditure for R&D activity. Lithuania total expences for R&D activity was increased four times from 269.9 million litas in 2000 to 890.1 million litas in 2008. The main problem for innovation policy designers is determining the amount of financial input to get the planned economic effect. According to the European Innovation Scorebord 2009 Lihuania’s input to finance and support of innovations is higher than EU average but the economic effects are much lower thant EU average. The conclusion is that increasing financial support for innovations does not achieve its intended aim. For example, Finland provides less funding and support for innovations but gets larger economic effects. Thus the design of the regional innovation system, its performance and environment are also very important. The crucial factor for improving innovation support design is evaluation of funding performance. The evaluation of funding performance of programmed measures could be made in few aspects: the funding performance, the achievement of innovative indicators, the increasing of organizations value, the export or etc. The main measure of innovation support is the number of produced patents. Patents play the key role in the innovation process as instruments to protect inventions, as a source of information for planning further R&D activities, as a measure for goverments to classify their country’s innovativeness in the international technology competition and is the crucial factor for economic recovery and the guarantors of future. Cooperation is very important for business innovation characteristics in strategic partnership. The fact that open innovation model was used for shaping the Seventh Framework programme is the evidence of importance of cooperation in i

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