Fostering innovative entrepreneurship

Challenges and policy options

image of Fostering innovative entrepreneurship
This publication sheds light on innovative entrepreneurship and difficulties that entrepreneurs face when creating businesses based on research and development results. The legal and regulatory conditions for enterprise development and the existing infrastructure for applied research are explored. Sources of financing for innovative entrepreneurs and roles of specialized financial providers are explored. Highlighted is the need to strengthen linkages between institutions that generate knowledge and the firms that strive to use it commercially. The publication discusses government policies facilitating the emergence of new innovation-based enterprises, its initial growth, identifying bottlenecks and suggesting corrective action for governments and other stakeholders.



The R&D output: Methods of commercialization

The main objective of universities and R&D institutions is teaching, training and research, as well as the dissemination of the new knowledge generated. This objective does not necessarily agree with the goal of earning profit from commercialization of inventions. In order to harmonize to the extent possible the conflicting interests of stakeholders in the process of commercialization of R&D results, universities and R&D institutions should address a number of pertinent issues. Government policy supporting commercialization and innovation typically seeks to facilitate this process by targeting issues such as


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