This work deals with the effect of innovation on the firm competitive advantage. Following the Knowledge based view, and the Resource and Capabilities based view, the innovation is defined as a learning process. In this process, the firm learns to innovate, and builds its own innovative capability based on its resources management. The article analyses this process, as well as its characteristics. The main conclusion is that innovation plays a key role in business survival and rent creation.

In 2002, the CIDET –Colombian Electricity Industry Research and Technological Development Center- realized a technology prospective assessment. This assessment identifies the technological developments needed in order to act within the changing and global business environment. Another interesting result of this exercise is related to the CIDET role providing aid to Colombian electricity firms to attain that objective.

In order to help the electric utilities and the NGO as a reference guide for their programs and projects on sustainable rural electrification of economically depressed geographic regions, a strategic integral model to select and prioritise geographic-energetic relationships has been developed. Its application approaches to guarantee the social interest and the energetic, economic, financial and environmental feasibility, in order to favour the global economic and human sustainable development.

In the implementation of marketing strategies, the focus on the customer in innovation activities attains a strategic level. This statement is analysed in some innovation planning cases.

The three goals for the next years are the development of the European Research Area, the growth of the research global effort towards the 3% of the GDP, and the consolidation of the European scientific and technological excellence. Universities have a large responsibility in those objectives. Efficient universities need cooperation, budgeting, partnerships with private agents, and mobility.