Proposals for Improving Innovation and Technology Transfer Policies in Romania

Abstract

Starting from the interdependence between innovation and technology transfer, as indicators of competitiveness at both micro and macroeconomic levels, this paper aims to highlight a number of ways of optimizing innovation and technology transfer policies in Romania in a European context, which places Romania in the category of modest innovators. The paper is based on the assumption that the need for technology transfer originates from a markets failure, i.e. a significant imbalance between supply and demand for innovation. A smooth technology transfer is likely to correct this market imbalance, while difficulties in achieving technology transfer generates lack of competitiveness, inability to generate added value, especially in the economic sector and the impossibility to achieve the innovative potential, both within SMEs (main sources of innovation in a functional market economy) and institutions which operate in research-development-innovation field.