Page 18 - COMPASS - COMPETITIVENESS REPORT 2022 - COUNCIL OF COMPETITIVENESS IN GREECE

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framework for the use of research generated by universities Research potential and
and the strengthening of innovation at research centres utilisation of technology
and tertiary education institutes through the Research,
Technological Development and Innovation (RTDI) system.
Support of the high technology and innovation industries is
Revision of the law on the transfer of technology, inventions
considered by business to be a crucial priority in maintaining
and technological innovation is extremely important for
Greece’s competitive position as an investment destination.
enhancing the country’s research potential and innovation
Research potential, as regards both business and research
in general. Academic staff are now allowed to participate in
institutions, is a decisive factor in this effort. At the macro-
startup boards of directors, and researchers are exempted
economic level, according to Eurostat, Greece has a signifi-
from having to comply with the single payroll system when
cant margin for improvement in its scores in both technolo-
they take part in research programmes that have private
gy and innovation in order to converge with the EU average.
sector participants or are funded by the EU.
According to the indices examined, Greece shows a sig-
Additionally, the introduction of a single institutional opera-
nificant weighted average increase, over time, in applica-
tional framework to facilitate the participation of researchers
tions for and absorption of direct competitive European
and academics in the establishment of spinoffs is a bold
funding (FP7, Horizon Europe), much higher (66%) than
move in converting the country’s research output into busi-
the corresponding European score (49%), highlighting the
ness applications. Moreover, the establishment of a frame-
considerable push by academics and researchers in this
work for technology transfer offices at universities, research
direction. Nonetheless, much can still be improved in terms
centres and tech hubs in order to develop the necessary
of establishing stronger links between R&D and entrepre-
structures, procedures and human resources that are a key
neurship. The public and private sectors, universities and
pillar for advancing innovation.
research institutions can cooperate and carry out applied
research to boost the productivity and extroversion of the
Finally, the provision of incentives for the development of
Greek economy.
businesses through partnerships and business transforma-
tions is a significant move and includes exemption (up to
In 2020, despite the pandemic, the Greek ecosystem contin-
30%) from payment of income tax for each of the cooperat-
ued to grow, making the most of support measures and new
ing individuals on actual pre-tax profits (Law 4935/2022).
technologies. In 2021, the Greek startup ecosystem contin-
ued this upward trend, achieving record numbers in terms
of financing and acquisitions that contribute to promoting
Greece as an innovation hub in Southeast Europe. Mean-
while, the Development Law also provided incentives for
the development of R&D efforts by businesses. There has
been a considerable increase in direct EU funds earmarked
for research and innovation at research institutions (research
centres and universities), and Greek institutions absorbed
funding to a considerable extent.