Innodrive one of the successful projects in the 7th European Framework Programme

Posted on 15/02/13.

NET4SOCIETY has produced success stories on research from Socio-economic Sciences and Humanities. That research supports the achievement of policy targets and contributes to the benefit of society and economy in many ways. One of the success stories is the university of Vaasa's project Innodrive - Intangible capital and innovations: drivers of growth and location in the EU.

Innodrive was selected on the basis of the visibility of its impact. Another criterion is the active involvement of policy makers and other stakeholders. By making visible different innovation models across countries, the findings of INNODRIVE are arguably influencing the implementation of the EU 2020 strategy.

- A well-known brand can ask its consumers to pay higher prices “just” because the brand has high brand affinity. However, such “intangible” parts of the value of an enterprise and of the economy of a whole country are not considered in usual calculations of economic growth. The project Innodrive shows why this is wrong, says Professor Hannu Piekkola, leader of the project.

According to its results, intangibles play an important role as a source of sustainable growth and better living standards. Where intangible capital is accumulated, labour productivity (a measure of living standards) also increases. Innodrive finished 2011. Research continues in research project INNOEUROPE 2013-2014 "Intangible capital – supporting knowledge and value added in Europe" funded by Tekes - The Finnish Funding Agency for Technology and Innovation.

NET4SOCIETY is the international network of National Contact Points for Socio-economic Sciences and Humanities (SSH) in (FP7). For identifying the best projects, NET4SOCIETY makes use of its NCP network members' experience and knowledge of FP7 projects.

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