Innovation and Knowledge in Creation of European Union Global Competitiveness and Social Security from Regional Perspective

The main aim of the paper is analysis of the innovation and knowledge in creation of European Union
global competitiveness especially against USA and Japan and also BRICSAM countries and social
security from regional perspective. To the particular goals of the research belong the presentation of
the knowledge-based-growth (KBG) theory, the concept of innovation system, the innovation system
and innovation process, constructed advantage, the Triple Helix model, Europe 2020 strategy and
Innovation Union and Horizon 2020 as the financial instrument implementing the Innovation Union.
The important results of the research is the conclusion that in the innovation process also in the
European Union very important are the connection between science (universities), market (industry)
and government at the regional level. There is positive dependence between innovation activity and
effectiveness of the innovation process. The more interaction and cooperation also the creation of
enterpreunership it can observe on the regional level than on the state. The new programme of the
scientific and innovation research Europe 2020 and Innovation Union are very important factors of the
economic growth, social security and global competitiveness of the European Union.
The new economic narrative of the European Union is built around three main strands – boosting
investment, pursuing structural reforms and fiscal responsibility. In close partnership with the
European Investment Bank, the European Commission of the EU has proposed an important
Investment Plan to give a new boost to jobs, growth and investment in Europe. Additional finance for
new investments will be mobilised through a new European Fund for Strategic Investments and by
ensuring that it reaches the real economy by establishing a credible project pipeline and expanding
and facilitating access to technical assistance. In addition to the new Fund, the use of innovative
financial instruments will be further promoted to increase the impact of the European Structural and
Investment Funds for the period 2014-2020, with an objective of at least doubling the use of such
instruments in the new programming period. Additional measures will focus on improving the business
environment, removing regulatory and non-regulatory barriers to investment and further reinforcing
the Single Market.