Evaluation of innovation development in eu countries

In the modern world, the main economic growth is determined by the development of new technologies and the ability to adapt them, which determines the development of innovations. However, the market itself can not ensure the development of innovation, so it is important that the state sponsors and promotes innovation in their countries. With the advancement of technology and business moving to the electronic space, competition among businesses is increasing. They are forced to fight and remain competitive, but it is difficult to remain, as the environment is constantly changing, and consumer wants change rapidly. So the only way to grow and stay stable is to create innovation, that is, to market new products and processes. The encouragement and implementation of such innovations in the market leads to greater competitiveness and a higher standard of living in the country. The work consists of two parts. In the first part of the work, using a variety of authors' scientific work, a comparative analysis of the concept of innovation was performed. In the second part, using the statistical data of the European Union Statistical Office (EUROSTAT), the European Commission (EC) and the Lithuanian Department of Statistics, an analysis of innovation evaluation indicators was performed. Based on statistical data that is continuous and reliable using the Excel toolkit analysis, correlation and correlation-regression analysis was carried out in ten European Union countries. The empirical study concludes that there is currently not enough innovation in all countries and that, in order to raise the level of innovation in the countries and ensure their economic growth, there must be a targeted investment in the development of innovation and an appropriate policy, which should increase both GDP, both competitiveness and labor productivity, in the states