Benefits
LIke procurement, employment and capital investment, engagement by health service organisations in social innovations and the health innovation market has the potential to stimulate the development of capable local businesses, strengthening their competitiveness in wider markets and so supporting a positive drive to achieve the goals of the Lisbon Agenda (growth, competition, employment). Specifically, effective and sustainable health innovation markets have proven benefits to local economies and regional development.
These include:
- increasing local employment
- increasing the skills base in local labour markets
- increasing wealth in the region
- promoting business growth (SMEs) competitive in wider markets
- contributing to quality of health care and health improvement
- enhancing community well being and social cohesion
- protecting the environment through environmentally friendly design.