Document: Social Innovation And Local/Regional Development

The global knowledge-based economy has negative impacts for people with low skills. Indeed, to remain competitive, Europe needs to specialise its competitive edge and therefore some of its production tools in stronger value added (services, RTD, etc.) or less labour-intensive industries. As a result, there will be ever fewer openings in lower-skilled or less knowledgeintensive positions. In addition, Europe’s ageing population will generate new concerns arising both from the requirement of longer professional careers (lifelong learning and training) and from society as a whole (new needs). These realisations mean that the onus is on public authorities to invest in social innovation as much as they already plead for investment in technological innovation.