Faculty of Social Sciences
The research project FINNOV: Finance Innovation & Growth is funded through Theme 8 of the 7th Framework Programme (FP7) of the European Commission (Socio-Economic Sciences and the Humanities), under the topic "The role of finance in growth, employment and competitiveness in Europe (SSH -2007 - 1.2.3)". The 3 year project started in March 2009 (total European Commission contribution €1,494,870) and is led by Prof Mariana Mazzucato. FINNOV is a research collaboration between seven European institutions aimed at understanding the relationship between changing financial markets, innovation dynamics, and economic performance. The project studies how these relationships influence economic growth as it is experienced by individuals, businesses and the wider economy. This will assist policy makers to better coordinate innovation policy with financial market reform policy.
FINNOV has been recognised as leading edge and very timely in the current environment of the economic downturn. It was the only FP7 project invited to work with European policy makers to Improve Governance in European Innovation Policy Making and was subsequently profiled in the 2009 Science, Economy and Society Highlights report published by the European Commission and. The first FINNOV Policy Brief addressed the subject of "Do financial markets reward innovators?" and was featured on the European Commission website. The FINNOV project coordinator was invited to take part in the conference Europe 2020 strategy - Innovation insights from European research in socio-economic sciences organised by Jean-Michel Baer, Director of the EC Directorate L - Science, economy and society. The synthetic view of the results has been summarised in the Innovation: Creating Knowledge and Jobs volume published by EC in October 2010.