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EU knowledge triangle composed of education, research and patents is being analyzed as a mean to improve quality of life in EU, including its economy and crisis resolution potential. While research side of triangle is satisfactory, education needs improvement in content and student and staff mobility. The number of patents should be higher given the number of research papers published. Obstacles to smartocracy approach are highlighted together with EU growth strategy 2020 with its supportive programs and other possible solutions to smart growth. Case studies are used to illustrate the need for flexible and timely support particularly in new IT business models. Bureaucracy, slow reactions, lack of success culture, and red tape together with conservative universities are limits to change based on creativity and smart growth. It was stated that EU strategy 2020 represents welcomed but slow move in good direction. Finally, return to basics of creativity, as an individual process, is being reinforced together with the idea of supporting inventors with the unemployed managers to help them with the implementation of inventions in the social phase of the patent process.

EU Knowledge Triangle: ‘Renaissance or Ocean of Papers?’