July 21, 2014
With unemployment above 25 percent, more than twice the EU average, Spain’s economy continues to struggle to create and maintain sustainable job opportunities. Previous job creation policies in Spain, such as the ill-fated solar sector regulations, failed to create as many jobs as they cost. To advance an alternative solution to government intervention, Atlas Network partner Institución Futuro (IF) released a new study in 2014 linking private sector innovation to economic performance and job growth. Through data analysis and surveys at top performing companies in the Navarra region, IF analysts found that 87 percent of successful companies attribute increased employment opportunities to innovations within the company. To better understand the relationship between innovation and public policy, analysts also asked respondents to identify key factors influencing their level of investment in innovation. Among the most cited responses, those surveyed pointed to excessive government bureaucracy and high interest rates as two key factors limiting their innovative potential.