Worried about the unemployed youth, Govt. of India is trying to push the youth towards entrepreneurship as jobs created are few and far between. I am a strong advocate of and believe in "Entrepreneurship without innovation has no root and innovation without entrepreneurship has no fruit" (Quote from my book Entrepreneurship and New Venture Creation).

A wide spectrum of new programmes and opportunities to nurture innovation have been created by the Government of India across a number of sectors; Atal Incubation Center being one of the great initiative for Innovation and Entrepreneurship..

When there is financial and moral support, the researcher can achieve his ambition and innovation, and unfortunately, this support does not exist in my country.

Due to unemployment, people are going outside for job. Earning few money being physically useless for overtime job to earn more. Being back from there , starting their own as entrepreneur

The government's 4.0 policy promotes new growth engines (instruments for driving sustainable growth) e.g. (social perspective based) SMEs and startups, (economic perspective based) value-added creative products (or innovation) and good business partnership cooperation, and (environment perspective based) green power.

Dariusz Prokopowicz ;Siribuppa U-tantada Isam Issa Omran Anjay kumar Mishra

Regarding Innovation and Entrepreneurship, the Government of Ghana, for example, utilizes both top-down and bottom-up approaches.

Regarding the top-down, the government of Ghana formally included a portfolio on 'innovation' to spearhead and to guide national innovation. This responsibilities was included in the activities of the Ministry of Environment, Science and Technology which for the past 5 years is known as Ministry of Environment, Science, Technology and Innovation and it's responsible for providing policies, regulations and strategies at the national level to support innovation and entrepreneurship. This is done working together with academia, government departments in other sectors and national research institutions including but not limited to Centres for Scientific and Research Institutes (CSIRs).

From the bottom-up perspective, there are number of innovation and entrepreneurship incubators. These are supported by the Ghana Climate Innovation Centre (GCIC), which is a pioneering business incubator with a unique focus of developing SME ventures and entrepreneurs in Ghana’s ‘Green Economy’. They help develop and support an exceptional set of transformational ventures and entrepreneurs  who are pioneering adaptive and mitigating solutions for climate change issues in Ghana. The GCIC is led by Ashesi University in a consortium with Ernst and Young, SNV Ghana and the United Nations University. It is funded by a grant from the Governments of Denmark and the Netherlands through the WorldBank.

Additional information can be found at:

GCIC: http://www.ghanacic.org/

It is supported in India for some.

In the recent years, a wide spectrum of new programmes and opportunities to nurture innovation have been created by the Government of India across a number of sectors. From engaging with academia, industry, investors, small and big entrepreneurs, non-governmental organizations to the most underserved sections of society. 

Recognising the importance of women entrepreneurship and economic participation in enabling the country’s growth and prosperity, Government of India has ensured that all policy initiatives are geared towards enabling equal opportunity for women. The government seeks to bring women to the forefront of India’s entrepreneurial ecosystem by providing access to loans, networks, markets and trainings.

In Russia it is somewhat ambigous. On the one hand the state officially proclaims support for innovation and entrepreneurship, with the national program for digital economy and significant funds to support innovative business, including SME. On the other hand the return of the state into economy in the form of state corporations (which are estimated to control ca. 70% of GDP at the moment) creates an environment which is very challenging for innovative development: risk-averse and bureaucratic. Russia has one of the world's lowest rates of owning business (less than 6% of population), which speaks for the lack of entrepreneurship in the market. Seeking an employment in a state corporation is by far the more attractive career. However there are some bright examples of innovative firms, some emerged with certain support from government (see a few cases in https://iems.skolkovo.ru/en/iems/publications/research-reports/273-2015-06-16/)

Worried about the unemployed youth, Govt. of India is trying to push the youth towards entrepreneurship as jobs created are few and far between. I am a strong advocate of and believe in "Entrepreneurship without innovation has no root and innovation without entrepreneurship has no fruit" (Quote from my book Entrepreneurship and New Venture Creation).

A wide spectrum of new programmes and opportunities to nurture innovation have been created by the Government of India across a number of sectors; Atal Incubation Center being one of the great initiative for Innovation and Entrepreneurship..

Entrepreneurship and innovation is inseparable. If you observe the evidence, entrepreneurship in most countries is forced and the last resort. This happens because there is a lack of entrepreneurial ecosystem, appreciation for failure, lack of parental training on risk taking skill of the kids, affinity towards fixed income & life style, easy life, fear and mostly non lucrative nature in the start. entrepreneurship is also in shadow in developing countries due to high corruption, non supportive ecosystem and fear of failure. My latest research focuses on few dimensions

1.Is it necessary to have Govt help for SUCCESSFUL entrepreneurship?

2. Is it more associated with resources or courage and risk taking mentality of the individual ?

3. How important is society's role in building an ecosystem?

4. Parents are more important or Govt as far as inculcating an entrepreneurial mindset goes?

5. What Govt can do to deliver technology at a affordable price to the entrepreneurs ?

To be continued...........

One of the key determinants of supporting and developing entrepreneurship and innovation is the development and implementation of a good economic policy for the activation of the establishment and development of innovative startups.

Are financial issues the main barrier to the development of innovative startups?

Are limited sources of external financing and high fiscal costs the main barriers to the development of innovative startups? Are there other equally important barriers to development?

According to statistical data, on average 1 startup per 10 achieves spectacular success and develops dynamically for a minimum period of several years. 2-3 somehow manage, but without major successes, and the remaining 7 after a year or two years end their activities for various reasons. This statistic may differ slightly between regions and countries depending on external financing assistance programs, organizational support from business incubators, etc. However, a small part of opened startups has been functioning for more than 2 years and has achieved great success in the scope of offer development, business run, participation in the acquired markets, the sale of a specific offer of innovative products or services and achieves financial success, which provides development opportunities.

In view of the above, what are the key success factors for the development of innovative startups? Is the idea for an innovative product or service the most important? Is the innovative technology on the basis of which new products or services are manufactured? Are convenient sources of external financing? Is a well-connected team of founders of a startup? Is a convenient tax system supporting the development of small entrepreneurship and innovation? Are also other factors?

Dear Friends and Colleagues of RG

Everyone agrees that the activation of entrepreneurship and innovation is essential for improving economic growth. However, in certain economic conditions there are various possibilities to support and develop entrepreneurship and innovation. The main determinants of the possibilities of supporting and developing entrepreneurship and innovativeness include the state's state fianns and the effectiveness of the economic policy being pursued, of which one of the important elements may be the issue of supporting and developing entrepreneurship and innovation. In addition, the structure of the national economy and the phase of the economic cycle in which the economy is located can have a significant impact on shaping both the needs and opportunities in the field of supporting and developing entrepreneurship and innovation.

Do you agree with my opinion on this matter?

In view of the above, I am asking you the following question: Which of the instruments supporting and developing entrepreneurship and innovation are, in your opinion, the most appropriate in the context of current economic conditions?

Please reply

I invite you to the discussion

Thank you very much

Best wishes

Supporting and developing entrepreneurship is not the function of state alone. In fact, in today's context, it is angels and venture capitalists who are major supporters of Entrepreneurship. However, they support only those satart up/growth phase entrepreneurs who are innovating.

Hi,

I agree with Arunaditya Sahay. It needs a community commitment or engagement of all stakeholders of the entrepreneurship ecosystem. For example Recently in Saudi Arabia, it has been developed an entrepreneurial ecosystem around universities, new curricula were inserted, new mechanisms were implemented incubators, accelerators, innovation hubs. coworking spaces for innovating. Last week, it was approved the establishment of a new bank for SMEs. Private sector is pushing by the programs launched by big companies and banks under the Social responsibility framework. Aramco, Sabic and others are also launching venture capital funds and corporate acceleators...

A forthcoming chapter will describe such interesting topic of entrepreneurship in context:

Preprint Entrepreneurship in the Kingdom of Saudi Arabia: Challenges ...

University and Industry interface may promote budding entrepreneurs from academic institutions. Such individuals can be noticed and groomed easily whereas no. of innovators are from outside world, they should be identified and promoted.

Such initiatives are in process which may promote other local innovation driven entrepreneurs.

All different perspectives above make me open mind and eyes to real world relating to the topic--and they always draw my attention when I have free time--excellent!!

In many countries the key issue is the source and volume of financing of entrepreneurship and innovation activation programs.

Following answers

We have some quite good financial support systems and programs.

The situation here is sad. Currently, I am working on a study regarding young enterprising Ghanaian contemporary artists. They reveal no support from the government while NGOs who would like to extend a helping hand, demand fat paybacks. Many of these young talented artists want to quit the profession because of lack of support in terms of funding and marketing avenues. We aim at finding ways via this study to avert the situation.

The is some institutional support on government level, but kot too efficient in Croatia. The effe tive one prove to be business incubators for startups.

You can be interested to this publication.

Best regards,

Marco

A negligible support, if any.

Present Indian government is promoting entrepreneurship.

Dear Colleagues and Friends from RG,

In the context of the above discussion, I propose to add to our considerations the following important issue:

The importance of entrepreneurship development and innovation in the new economy.

The discussion on the issues of entrepreneurship development and innovation inspired me to formulate the following question:

What is the importance of developing entrepreneurship and innovation in the new economy in the context of the development of the entire national economy?

On the basis of the above considerations and conclusions from the discussion on interesting issues discussed, I formulated the following thesis: in connection with the fact that the importance of entrepreneurship development and innovation in the new economy, i.e. in the field of e-commerce and internet marketing in the context of the development of the entire national economy, so the governments of individual countries are trying to improve the policy of activating the development of entrepreneurship and innovation, which is an important segment of socio-economic policy in order to improve economic growth, increase income and investment as well as increase financial revenues from taxes to the state budget and improve the state of public finances.

Below I have described the key determinants confirming the formulated research thesis. To the above discussion I would like to add the following conclusion formulated as a summary of my previous considerations on this topic: The importance of entrepreneurship development and innovation in the new economy, i.e. in the field of e-commerce and internet marketing as well as the application of new ICT and Industry 4.0 information technologies in business, finance and management.

In recent years, the development of entrepreneurship in the field of electronic business, including e-commerce and information services offered on the Internet has been correlated with, among others, the development of internet marketing, including primarily viral marketing developed through social media portals.

In addition, the development of innovation developed on the Internet is significantly correlated with open innovations and the implementation of ICT and Industry 4.0 information technologies in the field of technological improvement of websites and web portals, including the Internet of Things technology, Internet use via mobile devices, currently mainly via smartphone .

Open innovations developed on the Internet concern, among others, Internet marketing innovations. The issue of the possibility of publishing specific content, texts, banners, comments etc. on the Internet and obtaining free information are key determinants of the development of information services on the Internet and are a key factor in online viral marketing.

On the other hand, the largest internet technology corporations earn income mainly from paid marketing services. Therefore, the Internet environment is a kind of mix of free and paid information and marketing services, which are simultaneously, simultaneously and simultaneously interrelatedly developed by various Internet companies.

Currently, research is conducted into the analysis of the development of open innovations in the field of information and marketing services, which are the main factor of business success of the largest online technology companies, which include such concerns as Google and social media portals such as Facebook, Instagram, YouTube, Tweeter, LinkedIn and other.

Real-Time marketing has been a dynamically developing form of online viral marketing in recent years. On the other hand, advanced data processing technologies typical of the current technological revolution Industry 4.0 are increasingly used in marketing activities.

The current technological revolution referred to as Industry 4.0 is determined by the development of the following advanced information processing technologies: Big Data database technologies, cloud computing, machine learning, Internet of Things, artificial intelligence, Business Intelligence, Virtual and Augmented Reality, and other advanced technologies of Data Mining .

There are many examples of online advertising campaigns that also confirm that some new online viral marketing instruments used in new online media, including social media, can ensure the implementation of the most effective advertising campaigns. advertising campaigns are preceded by previously conducted market research, identification of the target segment of consumers, analysis of the state of competition, etc.

ICT, internet and advanced data processing technologies typical of the current Industry 4.0 technological revolution are increasingly used when conducting this type of research, data collection and analysis. In the scope of analytics used for these purposes, Big Data database systems and Business Intelligence, Data Analytics, Data Science, etc. analytical platforms are used.

The key issue is the ability to combine artificial intelligence technologies, the Internet of Things, analytics carried out on Big Data, Business Intelligence, Data Analytics, Data Science, etc. to improve the effectiveness of online advertising campaigns that use viral marketing innovations, including posts , banners, advertising films developed in the Real-Time marketing formula and posted on social media websites. The continuous progress of ICT information technologies and the implementation of Industry 4.0 technology in the improvement of internet platforms, including social media portals, determines the continuation of the development of internet marketing techniques.

In accordance with the above, in my opinion, due to the fact that the importance of entrepreneurship development and innovation in the new economy, i.e. in the field of e-commerce and internet marketing in the context of the development of the entire national economy, so the governments of individual countries are trying to improve the policy of activating entrepreneurship development and innovation that is an important segment of socio-economic policy to improve economic growth, increase income and investment, and increase financial revenues from taxes to the state budget and improve the state of public finances.

Do you agree with me on the above matter?

In connection with the above, I am asking you the following questions:

- Is Real-Time marketing a more effective marketing tool compared to traditional marketing?

- Is Real-Time marketing carried out in new online media, on social media portals already a more effective marketing tool used to promote a company brand or a specific product compared to traditional marketing?

- What are the best known examples of the combination of artificial intelligence technology, Internet of Things, analytics carried out on Big Data, Business Intelligence, Data Analytics, Data Science, etc. for the purposes of improving the effectiveness of online advertising campaigns that use viral marketing innovations, including among others posts, banners, advertising films developed in the Real-Time marketing formula and posted on social media sites?

- What other forms of online viral marketing dominate social media sites besides Real-Time marketing?

- Does the implementation of Industry 4.0 technology in marketing activities significantly increase the effectiveness of advertising campaigns conducted on the Internet?

- What is the importance of developing entrepreneurship and innovation in the new economy in the context of the development of the entire national economy?

- What do you think about this topic?

- What is your opinion on this topic?

Please reply.

I conduct research in this area. The conclusions of the research I published in scientific publications that are available on the Research Gate portal.

I invite you to the discussion and scientific cooperation.

Thank you very much.

Best wishes.

Dariusz Prokopowicz

This an interesting discussion. In some countries what they have done to spur entrepreneurship in the country is through introduction a two tire system of education (policy) that is academic and skills development, such that once a student finishes his/her secondary school he/she has attained two qualifications. In that way one can be compelled to establish his/her own enterprise if employment cannot be found and use the skills attained to make an income. Also some countries have enterprise policies that support upcoming businesses by offering credit/loans and pay back once fully established.

Kafula Chisanga

Interestingly this way of encouraging young people who finish high school. This way you can improve the quality of life of your family and surrounding community.

Our university is migrating from Education 3.0 that hinges on teaching, research and community service to Education 5.0 that now includes innovation and entrepreneurship. This is the way higher education must go.

As per GEM data, it's above the world average in India.

Hello to everyone, Thank you very much for participating in this discussion, for valuable tips, supplements, inspiring theses and presented new views on the above-mentioned issues. In the context of the above discussion, another important issue emerged that may be the subject of interesting scientific research. Well, many economic analyzes currently conducted show that the impact of the SARS-CoV-2 coronavirus (causing the Covid-19 disease) is very large on the global economy. In 2020, due to the pandemic, GDP will drop significantly in many countries and a deep economic recession is possible. According to some analyzes, the global economic crisis may be the largest since the 1980s, and in some countries the largest since World War II. However, the 2020 economic crisis is specific, multi-faceted. In the first half of 2020, it was not only a financial crisis, but also in some sectors and branches of the economy it was or still is mainly a crisis of lack of demand (e.g. in tourism) or lack of supply (e.g. production of complex, highly technologically processed products whose components are manufactured in countries affected by the Coronavirus pandemic and production of these components has been stopped). On the other hand, in many countries the effects of economic and financial crises are often similar, even though the sources of crises in the past were different. For example, a decline in investments, an increase in inflation and unemployment, a decline in tax revenues to the state budget, deterioration in the quality of loan portfolios in banks, debt crisis in public finances, etc. The current economic crisis, occurring in many countries despite a specific biological and not financial source, causes economic repercussions analogous to many past global economic and financial crises. I would like to add the following to the above discussion on an interesting topic. Well, recently, in various publications describing the current anti-crisis socio-economic policy, including budget, fiscal and monetary policy, applied in many countries on a large scale of the public finance system, including the budget, fiscal and monetary policy, there is a thesis suggesting that the importance of state interventionism based on the Keynsian economy is growing. the leading idea of ​​the anti-crisis budget and fiscal policy combined with the liberalism of the monetarist economy developed in commercial financial systems supported by the interventionist monetary policy of central banking. Thus, at present, many countries are dominated by an active anti-crisis, anti-cyclical, pro-development socio-economic policy based on a post-Keynesian economy built of the above-mentioned components. This type of concept apparently dominates the applied anti-crisis socio-economic policy, which aims to reduce the scale of the current economic crisis caused by the SARS-CoV-2 coronavirus pandemic (causing the Covid-19 disease). In connection with the above, the currently implemented anti-crisis, interventionist support programs for economic entities under the socio-economic policies, i.e. in the so-called Anti-crisis shields is to increase the effectiveness, control and improvement of financial support systems consisting in granting financial subsidies from the funds of the state finance system to enterprises in order to maintain jobs and thus reduce the scale of unemployment growth. However, the impact of these subsidies, the purpose of which is to maintain jobs in companies operating commercially, but fully or partially not conducting real business activity, may be negligible on the issue of sustainable stimulation of entrepreneurship and activation of innovation.

In view of the above, whether the so-called Are the anti-crisis shields consisting mainly in granting financial subsidies from the funds of the state finance system for enterprises in order to maintain jobs, an effective instrument for the permanent activation of entrepreneurship and innovation? Do they generate real added value in terms of sustainable activation of entrepreneurship and innovation?

What's your opinion on this topic?

Thank you very much,

Dariusz Prokopowicz

By government programmes and fundings.