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.