Funding regimes that prevent universities from turning knowledge into innovative products and services need correction, the League of European Research Universities (LERU) says in its response to the European Union's call for Europe to become a more innovation-friendly continent.LERU adds that creation of the 'Innovation Union' requires correction of funding arrangements.
In its just-released report Universities, Research and the 'Innovation Union', LERU describes Europe as being highly competitive when it comes to developing new knowledge, but less successful at turning this knowledge into innovative products and services that drive world-class economies.
According to LERU, the problem has been universities' impoverished research efforts in recent decades, with a few notable exceptions. This, they say, is a result of "marginal-cost funding of research, the allocation of research funding on criteria other than excellence, and an obsession with bureaucratic even-handedness".
To read the full, original article click on this link: University World News - EUROPE: Funding criteria 'hamper innovation'
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