What can be learned from Singapore by the European Union in the field of innovation?

As the world is changing in the fast pace and open global markets are making European companies understand that they need to innovate, the question is how the European Commission can best contribute toward the goal of making the EU the single most crucial supra-national body managing funding for innovation worldwide, thrive in this new but not surprising challenge. Open innovation is a very actual topic in the European Union. With the establishment of the European Innovation Council, the development of Open Innovation strategies, and the launching of a few calls dedicated to the creation of Open Innovation networks in the field of technologies, the European Union shows that it has grasped the importance of this approach to better address the innovation challenges in a world which are being transformed rapidly. Following extended research conducted for this work, it looks like Singapore represents a good case study worthy of considering as great examples for the further development of Open Innovation in the European Union. An enlightened governance system has created the framework, the environment, and the path for a small island with only the resources of its people to be transformed into a global city-state which is run based mostly on a technology-centered, engineering, top-down kind of social and economic model that is a marvel of efficiency and has produced success, social unity, educational superiority, and technological achievement.