%0 Journal Article
%T Innovation capabilities of the Baltic Sea region: Meeting Europe 2020 innovation targets?
%A Wedemeier, Jan
%J International Business and Global Economy
%V 2017
%R 10.4467/23539496IB.17.003.7451
%N Volume 36
%P 47-59
%K innovation, Baltic Sea region, Europe 2020
%@ 2300-6102
%D 2017
%U https://ejournals.eu/en/journal/ibage/article/innovation-capabilities-of-the-baltic-sea-region-meeting-europe-2020-innovation-targets
%X 
	The paper analyses the innovation capabilities and development of the Baltic Sea region within the framework of the Europe 2020 strategy. The ongoing structural change towards service and knowledge societies, innovations, and the increasing integration of markets will have considerable influence on the European Union. In March 2010, the European Commission presented the Europe 2020 strategy, which is supposed to push the EU to become the smartest and most competitive region in the world. Among the EU member states, the Baltic Sea countries are effective in bringing up innovative solutions and establishing cooperation between science and business. However, the Europe 2020 strategy sets ambitious goals and some of the Baltic Sea countries will presumably fail to meet them. The enormous disparities between the countries and between central and peripheral regions within a country can thus be observed in selected indicators. These findings need to be recognised to intensify the efforts to transform the region into an innovation leader.