Public research and development (R&D) budgets have started to level off or even decline in many OECD countries. The rise of global value chains (GVCs), the now central role of entrepreneurship, the search for new sources of growth, and the challenges raised by environmental and social issues have introduced new objectives and instruments for policy intervention. Recent interest in "systems innovation” illustrates a shift in the policy paradigm of certain countries towards innovation policies that support large-scale socio-economic transformations.