Aleksandar Aleksandrov
University of National and World Economy
https://doi.org/10.53656/str2025-1s-7-com
Abstract. The article aims to follow the development of innovation activity and its financing in the new EU member states through a theoretical review and comparative analysis using macro-statistical indicators. It is noted that the so-called new EU member states continue to lag significantly behind in their innovation development compared to Western economies. It is typical for innovation activity to expect a leading role from the private sector, but the role of the state should not be excluded from the equation, which, no matter how much it is branded as a „bad manager“, remains essential, not only for a high, but also for any level of innovation activity, and hence the inseparable connection between innovation and economic growth.
Keywords: innovation, innovation financing, economic growth, intellectual property
