- Foreign Direct Investment - The acquisition abroad of physical assets such as plant and equipment, with operating control residing in the parent corporation.
- FOCAL POINTS
- The national and international Focal Points are nominated by the INSME Steering Group Members and participated in Project Team activities during the Feasibility Study for the creation of the INSME Network, at a more operational level (information support, interviews, surveys and data retrieval, local contacts interface, proposals and feed-back on the ongoing work, etc).
- 6th Framework Programme of the European Commission - The EU's Framework Programme for Research and Technological Development is a major tool to support the creation of the European Research Area - ERA.
- "The transition from national and regional economies to global economies: 'globalisation' is the increasing interdependence of countries world-wide through the increased volume of cross-border transactions in goods and services. Through the widespread diffusion of technology, globalisation does not only refer to an economic phenomenon but it also implies a process of increased connectivity among people around the globe". (INSME)
"Globalisation ... the interconnectedness of capital, production, ideas and cultures at an increasing pace". (Paul Kennedy)
“Globalisation is neither new nor a folly, but a global movement of ideas, people, technology and goods from one region to others”. (Amartya Sen)
"Economic 'globalization' is a historical process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world, particularly through trade and financial flows. The term sometimes also refers to the movement of people (labour) and knowledge (technology) across international borders". (International Monetray Fund)
- Good Practice
- Learning from other organisations that have developed successful projects or approaches to problems.
- Governance consists in the intent to monitor, control, regulate, plan, and guide the business. It also refers to the decision-making processes in the administration of an organization.
- The Human Development Index is a summary composite index that measures a country's average achievements in three basic aspects of human development: longevity, knowledge, and a decent standard of living.
- High Tech Industry
- The High Tech Industry is a technology intensive industry implementing the latest technologies into the productive process.
- Information Communication Technologies: all technologies derived from the field of IT, electronics, telecommunications and broadcasting, used to process, modify or exchange information, especially in digital form.
- An incubator is an organization that provides facilities (office/lab space) or business advisory services to startup companies in exchange for cash, equity, or a combination. These organizations can be public, private (both for- and non-profit), or public/private ventures. They may be focused on a particular industry, sector, or geographis area. Each incubator has its own criteria for admission and graduation. The"Virtual" incubators provide services without providing physical facilities. Business incubators are committed to nurturing entrepreneurs, start-ups and small companies at an early stage in their ventures.
- Critical information about selected areas of performance, usually expressed as an index or ratio, monitored at regular intervals, and compared to one or more standards.
- Industrial Liaison Office
- The Industrial Liaison Office promotes the transfer to the business environment of the know-how and the technology developed by the University by offering a range of different services such as facilities for spin-off creation, licensing opportunities and placement.
- Information Society
- The Information Society is a society in which economic and cultural life is critically dependent on information and communications technologies. Popularised in Europe by the 1994 Bangemann report on 'Europe and the global information society'.
- “Scientific and technological innovation may be considered as the transformation of an idea into a new or improved product introduced on the market, into a new or improved operational process used in industry and commerce or into a new approach to a social service".
(Frascati Manual 1993, OECD)
“Innovation is taken as being a synonym for the successful production, assimilation and exploitation of novelty in the economic and social spheres”.
(Green Paper on Innovation 1995, European Commission)
“A technological product innovation is the implementation/commercialisation of a product with improved performance characteristics such as to deliver objectively new or improved services to the consumer. A technological process innovation is the implementation/adoption of new or significantly improved production or delivery methods. It may involve changes in equipment, human resources, working methods or a combination of these".
(Oslo Manual 1997, OECD)
“[Innovation includes] any change in the SMEs’ technical and managerial capacity aimed at developing new products and services and/or improving productive processes to enhance the competitiveness of the enterprise in the global market".
“Innovation is the renewal and enlargement of the range of products and services and the associated markets; the establishment of new methods of production, supply and distribution; the introduction of changes in management, work organization, and the working conditions and skills of the workforce".
("Innovation policy: updating the Union Approach in the context of the Lisbon strategy", 2003, Commission of the European Communities)
- Innovation Finance
- All of the sources of finance available to high-tech start-ups in their early stages of growth- includes seed capital funds, informal investors, banks and venture capital funds.
- Innovation system
- The local, regional or national environment for innovative activity, in addition to companies it includes the research base, innovation finance, business support services and schemes, and the networks through which these components interact.
- Innovative Firms
- Defined by the Community Innovation Survey as a firm that has introduced new or improved products, processes or services within the previous three years.
- Innovative Models (linear and systemic)
- Innovation used to be a linear trajectory from new knowledge to new product. Now innovation is neither singular nor linear, but systemic. It arises from complex interactions between many individuals, organizations and their operating environment. Firms which are successful in realizing the full returns from their technologies and innovations are able to match their technological developments with complementary expertise in other areas of their business, such as manufacturing, distribution, human resources, marketing, and customer service.
- This term refers to public, private or mixed bodies, operating at local, national or international level and providing support services, assistance and consultancy to SMEs, including service centres, technological centres, scientific and technological parks, incubators, agencies for regional development, public research and innovation organisations, liaison offices of universities etc.
In particular, they have the following characteristics:
- a mission that supports SME creation and development, through institutional or professional service supply;
- an organisational structure specifically devoted to providing assistance and services to SMEs in the field of technological innovation promotion and development and technology transfer (i.e. service centres, technological centers, scientific and technological parks, incubators, agencies for regional development, government research and innovation organisations or service points linking end-users to other service providers, such as Chambers of Commerce, and other Business Support Organisations and Business Associations, etc.).
- Investors (formal and informal)
- People or organisations which supply businesses with money in exchange for a share of ownership. Informal investors are business angels and the family/friends network. Formal investors are venture capitalists, insurance companies, pension funds and investment companies.
- Intellectual Property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.
- The Intellectula Property Right is a legal protection accorded to original creations, creative-oriented. It encompasses copyright, trademarks, and patents which are the main intellectual property rights.
- The Innovation Relay Centres are innovation support service providers mainly hosted by public organisations such as university technology centres, chambers of commerce, regional development agencies or national innovation agencies with the objective to facilitate the transfer of innovative technologies to and from European companies or research departments. Most IRCs are set up as consortia. Each centre is staffed by personnel who have extensive knowledge of the technological and economic profile of the companies and regions they serve.
- International Technology Transfer
- Joint Venture
- Joint Venture means two or more for-profit parties (either individual people or companies) entering into an agreement to undertake a business venture for joint profit.
- Knowledge Economy
- Knowledge Economy is a new economic theory based on the concept of knowledge as an input to economic processes and an endogenous factor to the productivity function.
- Less Developed Countries - LDC
- Less Developed Countries are also known as emerging markets where per capita G.D.P. is below a World Bank determined level.
- License is the transfer of commercial patent rights that does not amount to an assignment. A license, which can be exclusive or non-exclusive, does not give the licensee the legal title to the patent.
- Millennium Development Goals - MDGs
- The Millennium Development Goals, set out by the UN Millenniumm declaration in 2000, promote human development as the key to sustaining social and economic progress in all countries, and recognizes the importance of creating a global partnership for development. The goals have been commonly accepted as a framework for measuring development progress.
- Nanotechnology is the science of creating highly miniaturized machines working on systems of molecular size that emulate the behaviour of larger systems.