In recent years, and in response to major societal challenges such as climate change, migration, or food and energy security, innovation policy has both broadened its scope for action and widened the goals it is expected to address. This implies a shift from generic and primarily R&D-based innovation support measures towards a new (or third) ‘generation’ of innovation policy – variously referred to as challenge-led, mission-orientated or transformative innovation policies. A more targeted and challenge-oriented innovation policy should, it is argued, help to deliver desired, and not just more, innovations. This implies a more active role of the state in funding risk-taking activities and in creating – not just correcting – markets. Whilst there is much agreement that bolder, more customised and directional policies are needed to tackle the societal challenges of our time, there is less consensus about how such policies should be implemented in practice. This talk will explore the role of place and demand-side policies, specifically public procurement of innovation, in the implementation of new generation innovation policies.

Professor Lars Coenen, Western Norway University of Applied Sciences