Innovations
Vol. 9 (2021), Issue 2, pg(s) 51-56

INNOVATION POLICY AND INNOVATION MANAGEMENT

Financial goals of the European Union – analysis of a target-driven budget concept from the perspective of the innovative SME sector

  • 1 Hungarian University of Agriculture and Life Sciences, Gödöllő, Hungary

Abstract

The budget of the European Union is a cornerstone factor in the financial existence of the continent, and a highly important factor in the global economy. Due to both the global Coronavirus pandemic, and the new formations of global trade in the Asia region, the entire world is focusing even more on the way the European Union will finalise its directives for investment for the next programme period between 2021 and 2027. Any impact on the budget will reflect upon programmes supporting Member State innovation.
With the aid of five experts on the field of the European Union, economics, financial culture of Europe, and other relevant topics, a roundtable focus group was formed online to obtain a qualitative insight into the changes in the perspective of the Union towards 2021. The main idea of the authors is to wrap a larger research around parametrising the measurement of innovation in the Union, and making a simplified system for Hungarian SMEs for ease of understanding, and more accessible tender application process. Changes in the finer directives of the Union are necessary, to serve as a basis for selection among the several dozens of criteria the EU employs.

Keywords

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