What is Innovation Policy

The growing complexity of innovation has led to transition to an open innovation approach. Achieving sustainable economic growth based on knowledge and innovation depends on the efficiency and intensity of interactions between the government, business sector, and academia. Searching for ways to improve the innovation performance of small and medium-sized enterprises is high on the agendas of policy makers in developed and even more in developing countries. Through innovation policy, a favorable environment and stimulating system is created in which innovation activities are realized, information and knowledge are flowed, and cooperation between different actors is established. Academia plays a key role in the open innovation approach and is perhaps the most important partner for small and medium-sized enterprises. The subject of the research is the effects of innovation policy support on science to business collaboration in Serbia, with additional emphasis on the national innovation system and innovation performance of Serbia.