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.




In the emerging market economies (countries in transition) of the UNECE region, the sustained economic growth based on the use of innovation has come forward as the major objective of government policy. In countries rich in resources, decision makers have increasingly realized that economic development based on their exports is hardly sustainable given the volatility of external market demand and prices. In other countries, poor in natural resources, there has been no alternative to innovation-based development since the start of transition.


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