Public innovation support index for impact assessment in the European Economic area

Objective: The object of this research is public innovation support in the European Economic Area and its effectiveness assessment. The main aim is to propose a new model for public innovation support effectiveness assessment, adjusted to contemporary needs and based on practice of public innovation support development. Research Design & Methods: The methods of comparative, cluster, regression, modelling analysis, multi-criteria evaluation, analogy search, logical abstraction and impact evaluation have been applied for the research presented in this paper. Findings: The paper conceptualizes a new model for the assessment of public innovation support. It is based on theoretical argumentation and practical verification. Its structure is based on new solutions and quantitative assessment methods. Implications & Recommendations: The analysis of the proposed model applicability revealed important patterns for the public innovation support impact assessment. Findings suggest that the increase of public innovation support index is a necessary but insufficient condition for the growth of the countries innovation index. The impact of public innovation support occurs only in the long run, as the delay of the effect exists. Contribution & Value Added: The proposed system of quantitative and qualitative indicators that characterize any public innovation support system (public innovation support index) enables the creation and implementation of measures devoted to the public innovation support impact improvement at EU and national level. The practical application of the suggested model is significant for the effectiveness improvement of public innovation support at EU institutions