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.



Emerging market economies: Potential for innovation

In the 2000s, the drivers of innovation in emerging market economies of the UNECE region were generally less advanced than those in developed market economies. Many EMEs have relatively welleducated labour forces and a good tradition of scientific research. In particular, important investments in education, and science and technology at the time of the Soviet Union have credited its successor States with a solid scientific background and a high academic research potential. The Russian Federation, for example, has several Nobel Prize winners in natural sciences, and hosts one of the leading schools of mathematicians. However, in the second half of the 2000s, in relative terms the number of scientists in EMEs was generally lower than that in developed market economies.


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