Innovation policy in the Republic of Moldova and its impact on business development

Abstract

In the context of the increasing role of the SMEs sector in the national economy landscape, supporting innovation activity in SMEs is imperative. In this paper our goal is to review the main policy documents on innovation, with reference to the measures aimed at stimulating innovation in SMEs; summarize the characeristics of the innovative SMEs in the Republic of Moldova. Additionally, there has been outlined the constraints faced by the participants of the technology transfer process - enterprises, researchers and intermediary institutions, based on the interviews carried out with the participation of the authors. We also examine the Republic of Moldova position in the international rankings, referring to the innovational development. The article identifies that the innovation activity is still underestimated in the Republic of Moldova, the encouragement of the innovation activity is not systemic, having a fragmentary character, with a low impact on business comunity.