Technological innovation as a mean to increase economic competitiveness

Corporations must be able to adapt and evolve if they wish to survive. Businesses operate with the knowledge that their competitors will inevitably come to the market with a product that changes the basis of competition. The ability to change and adapt is essential to survival.(1) European Union and its member states set several frameworks to support companies to acquire knowledge and strengthen their competitiveness, as follows:- National Programs for R & D funding which support national actors;- Sectorial Operational Programs (either at national or regional level, in full compliance with national rules);- EU programs (e.g. Competitiveness and Innovation Program – CIP, R&D Framework Programs – FP);- Pan-European programs (e.g. EUREKA).Romania is participating to all programs and pan-European R & D frameworks. Furthermore, its innovation program within the National Plan for research facilitates company participation to knowledge development and technology development. Nevertheless Romania’s Innovation performance is still at one of the lowest level in Europe(2). The followings present how companies are considering their participation to R & D programs and the impact of an R & D project in a company.