Ireland 'third in EU' for innovation
IRELAND has been ranked third in the European Union for delivering innovation.
The European Commission's proposed new indicator of innovation ranks Ireland as a top performer, with a score of 124.8 – above the EU average of 100.
Commissioner Maire Geoghegan-Quinn, who is responsible for research, innovation and science, said the EU must turn more ideas into products and services.
"The proposed indicator will help us measure how we are doing and pinpoint areas where countries need to take action," she said.
The findings come after the Organisation for Economic Co-operation and Development (OECD) found that innovation was concentrated in multi-nationals, while domestic SMEs lag behind.