Abstract:

The global economy is creating substantial changes for organizations and industries throughout the world special after the economic crises. Supporting entrepreneurship at local level is crucial namely as far as innovative firms are concerned. Creating an innovative environment, stimulating start-ups through access to finance and providing advice, information and expertise, represent fertile local grounds for business ideas and better performance of regional economies.

A key objective of Europe 2020 is the objective of investing in research and development 3% of GDP, especially by providing more favorable conditions for private investment and establishing a new indicator for innovation. The final part of the paper examines the possibility of improving the framework conditions for companies and access to funding for research and development so as to stimulate investment throughout the Union.