1. Innovation Policy In a remarkably short period of time, economic globalization has changed the world economic order, bringing new opportunities and new challenges . To compete, Europe must become more inventive, react better to consumer needs and preferences and address global and environmental challenges by innovating more . The objective is to facilitate the development and usage of Europe’s innovation potential by the creation of an environment in which enterprises can start and grow . To this end, the EC initiative encourages public - private partnerships and the improvement of governance in the fields of entrepreneurial innovation, cluster management, innovation financing and European standards, as well as the testing of new tools and practices Transnational cooperation is an essential feature of all these actions