Innovation policy in the Slovak republic

Slovakia ranked to the poorest innovation performers in the EU 25 area in early 2000s. While the country's economics was booming due to high influx of foreign investment, there was real danger that Slovakia would convert to the "greatest assembly line" in Europe, with little own innovation efforts employed in production. Poor innovation performance of Slovakia was given by an ineffective national innovation system and inadequate innovation policies. Substantial increases in R&D spending and structural changes in allocation of public resources (towards applied research and new technologies) were the basic preconditions for establishing a knowledge-based economy.