Poland must become far more innovative than it is today in order for its economy to be able to compete effectively in the future, said experts at a conference on innovation in emerging economies, organized by the World Bank.

The good news is that with its strong economy, as well as its academic and scientific potential, Poland has the fundamentals to be a very innovative country, said Janamitra Devan, vice president of the World Bank. “Poland has a tradition of excellence in learning and basic research which can provide the basis for future commercial innovation,” he said.

But Poland currently spends only about 0.9 percent of its GDP on research and development, lagging behind European countries such as Finland and Sweden, which each spend over 3 percent of their GDP on R&D. Experts at the conference mooted several measures that could help Poland boost its innovativeness.

First, they said, the government should support the collaboration of Polish researchers and foreign inventors, as well as do more to attract foreign R&D investment. Second, to help enhance Polish integration into the global R&D community, the government should support local co-inventors in obtaining international patent protection before they negotiate the ownership of their joint patents with their Western co-inventors.

Third, Polish research and development institutes should be restructured to be more effective in commercializing their ideas. There should be a thorough assessment of the real potential of each organization and the local and global demand for what they produce.

Fourth, to promote risk-taking and stimulate markets for private risk capital, policymakers should evaluate support instruments and develop new ones based on international best practices, such as matching grants, loans and venture capital.

Make it easier

For reforms in innovation to make a difference, the government also needs to improve the ease of doing business in Poland in measurable ways. The experts said it should put special emphasis on aspects vital for FDI, start-ups and spinoffs, such as making it easier to start a business, giving investors better protection, as well as making it easier to obtain credit and to enforce contracts.

Mr Devan also said there needs to be a different approach to entrepreneurs who have “failed” at innovation. “We should not treat those who have failed with innovative ideas as losers. It is the entrepreneur who has already failed that is most likely to succeed with his next idea, due to the experience he has garnered in the process,” he said.