Innovation Ecosystems In Black Sea Countries

In an attempt to keep pace with advancements in technology and globalization more broadly, Black Sea countries have been intensifying their efforts to foster and cultivate their own innovation ecosystems. Amid rapid technological advancements and the widespread development of AI (and, specifically, the democratization of generative AI), coupled with the fraught geopolitical situation in the region, largely stemming from Russia’s ongoing war on Ukraine, it is imperative to understand the nuances of the innovation ecosystems of Black Sea countries.

Moreover, the COVID-19 pandemic further highlighted the critical need for stronger research and development (R&D), innovation, and technological readiness. By identifying the similarities and differences among the Black Sea countries in this regard, this publication sets out to compare their performance in a global context and within the region, thereby offering a comprehensive assessment of their innovation capabilities.

This analysis provides insights into the performance of these states not only in terms of innovation but also with respect to the elements shaping the innovation landscape, such as market sophistication, institutions, and infrastructure.