THE ASPECTS OF RISK MANAGEMENT WITHIN THE SLOVAK INNOVATION POLICY.

Innovation policy is the interface between research and technological development policy and industrial policy and aims at creating a conducive framework for bringing ideas into market. Innovation is an important improvement and development element in all areas of economic and social life, business environment as well as regional processes. The correct risk approach helps eliminate the negative trends in activities carried out by innovation and because of that it may increase the interest of other stakeholders to take part in this form of activity. Paper deals with the risk management in a specific environment of Slovak and EU innovation policies. EU innovation policy appears to be one of the most important current programs and agenda at EU level which support innovation in emerging industries in EU. By means of analysis, comparative analysis methods followed by logical deduction the main goal of this paper is to figure out how and in what way the technology and innovation implementation processes in Slovak innovation policy can affect the sustainable economic growth in terms of the conditions of Slovak Republic. Slovak innovation policy is acting as a main synergic issue coming out of EU innovation policy and Strategy 2020 interaction. Their parallel collaboration and positive effects have significant fallouts on social and economic development within the Slovak competitiveness enhancement within the European and world economy environment. [ABSTRACT FROM AUTHOR]