Popovic: Gov't must back greater innovativeness of economy

Only synergetic action of the business and the academic sectors creates an incentive environment for development of an innovative ecosystem in which the government has a major role, Serbian Minister for Innovation and Technological Development Nenad Popovic has said at the Gaidar Forum.

16 Jan 2020 12:59

MOSCOW - Only synergetic action of the business and the academic sectors creates an incentive environment for development of an innovative ecosystem in which the government has a major role, Serbian Minister for Innovation and Technological Development Nenad Popovic has said at the Gaidar Forum.

"The government must back greater innovativeness of the economy and encourage investment in modernisation of traditional industries, as well as back innovation in the riskiest early stages of development," he said Wednesday.

He pointed to a need for greater cooperation between businesses as the drivers of innovation and academic organisations with the aim of commercialising the results of scientific and research activities.

"At the same time, equal opportunities and support must be offered to young talent across the country to enable them to set up new companies and develop their concepts," he said at the international economic forum, dubbed the Russian Davos.

"Application of artificial intelligence and 5G technologies will ensure novelties in various areas such as communications, smart cities, use of consumer electronics, the automotive industry and environmental protection," he said.

Photo: Office of the Minister for Innovation and Technological Development

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