Methods of Creating Innovation Indices Versus Determinants of Their Values

The aim of this paper is to present the methodology of creating innovation indices and to define best practices concerning the effective use of factors determining their values. The analysis of creating innovation indices involved specifying factors which determine the position of a particular country in terms of innovativeness. The analysis of the ranking of EU Member States will enable to study and classify problems and obstacles to innovative activity. Once these factors are identified, general recommendations, whose application will contribute to an increase in the number of innovations implemented and the level of enterprise competitiveness, will be presented.