Slovak Innovation Ecosystem: Information Technology and Digital Innovations

Abstract

Innovation is a pillar of competitiveness and a tool for transforming society toward sustainable development. Investment in research, development, and innovation comes from both private and public sources. However, corporate investment is lower than the European Union (EU) average, partly due to the structure of Slovakian companies within value chains. A significant portion of innovation comes from imports, reflecting a low focus on preproduction and postproduction phases of production within Slovakia. The government provides varied institutional support for research and development, including tax incentives for innovation. Additionally, digitalization is underway through the Industry 4.0 concept. Retaining and attracting skilled information technology (IT) professionals from abroad is crucial, as the IT sector offers an attractive environment for talented individuals. Enhancing the knowledge society requires collaboration from all stakeholders to employ more creative people within Slovakia. Imported innovations dominated the scene, but in recent years, companies have been increasingly investing in the domestic R&D and innovation. The necessity of digital transformation is a theme in discussions of Slovak society. It's a prerequisite for successful adaptation to the ongoing changes the country is facing.

Citation

Vokoun, J. (2024), "Slovak Innovation Ecosystem: Information Technology and Digital Innovations", Augustín, M., Jančovič, P. and Sergi, B.S. (Ed.) Modeling Economic Growth in Contemporary Slovakia (Entrepreneurship and Global Economic Growth), Emerald Publishing Limited, Leeds, pp. 201-217. https://doi.org/10.1108/978-1-83549-454-720241016