Locally operating business entities should be promoted by chambers of commerce.
Entrepreneurship and innovation should be supported by central and local government units of public administration.
In addition, investment funds should co-finance innovative investment projects characterized by a high level of innovation.
However, in the education system, the issue of promoting local entrepreneurship of innovation may be taken into account, indicating the high level of significance of this issue for the economic development of the local self-government economy as well as in the context of the national economy.
In view of the above, the current question is: How to support and activate innovation and entrepreneurship?
Please, answer, comments. I invite you to the discussion.
We need more specialised Professional Institutions to do this work.
Supporting startups and budding entrepreneurs is not at all an easy task. In most of the cases due to the plagiarism and manipulation attributed to the startup ideas, it's very hard to authenticate a new approach. Thus, the idea should be first evaluated and validated through a strict set of initial expert screening, if the idea successfully passes the stage one then it should undergo the process of prototype evaluation and risk assessment. Any idea without the availability of the prototype should not be entertained for the further perusal. Once the prototype found to be satisfactory, then the certification should be checked. After the successful evaluation of the concept, the candidate should be introduced to the panel of investors for face to face interaction who will consider the same for funding according to their area of interest. That's how a committee should be formed who will act as a bridge between the candidate and investors with complete transparency.
Hope this model could be a reliable one and solve the issue to the utmost.
Dr Prokopowicz,
Interesting but rather vague question in my opinion. Your own answers raise more questions than they answer, I am afraid. Here is why (my comments are in block letters... I am not going to address each point you make -- I leave others to do that...):
Locally operating business entities should be promoted by chambers of commerce. HOW CAN THEY PROMOTE? WHAT EXPERTISE DO THESE CHAMBERS OF COMMERCE HAVE IN RELATION TO INNOVATION? They may have dealt with businesses, but how have they promoted entrepreneurship? And with what degree of success, if any?
Entrepreneurship and innovation should be supported by central and local government units of public administration. WHAT EXPERTISE DO ADMINISTRATORS HAVE IN RELATION TO ENTREPRENEURSHIP AND INNOVATION? CAN ANY PUBLIC ADMINISTRATOR RECOGNIZE THE USEFULNESS AND MARKET POTENTIAL OF AN INNOVATIVE STEP? AN INNOVATIVE STEP DOES NOT ON ITS OWN LEAD TO MARKET SUCCESS. MARKET SUCCESS IS DETERMINED BY THE PRODUCT, THE MARKET, THE COMPETITION, THE STATE OF TECHNOLOGY, ETC. I am unsure if public or civil servants have the ability that is required.
In addition, investment funds should co-finance innovative investment projects characterized by a high level of innovation. ON THIS POINT I DO AGREE. THIS IS WHY WE HAVE VENTURE CAPITALISTS.
I have more to say, but the above is my two cents.
Dear Emmanuel V Murray, Atun Roychoudhury, Aleš Kralj
, Phil Barbonis, Thank you very much for an inspiring, interesting and substantively rich answer. Best regards, Have a nice day,Dariusz Prokopowicz
When I asked this question at the end of 2018, the rate of economic growth was much higher than today. At that time, the key factors limiting economic activity on an international scale included the so-called trade wars. In 2020, on the other hand, the situation changed significantly. There was an economic crisis, a strong downturn, a recession in the economy, a drop in income and an increase in unemployment etc. due to the SARS-CoV-2 (Covid-19) coronavirus pandemic. Therefore, the above question concerning the key instruments of systemic support and activation of economic activity, stimulating entrepreneurship and innovation has acquired a new, stronger meaning.
In view of the above, what instruments of systemic support and activation of economic activity, stimulating entrepreneurship and innovation are the most effective in your opinion?
What instruments of interventionist, anti-crisis socio-economic, fiscal, budgetary, sectoral, monetary, Keynsian, etc. instruments were applied in 2020 in your country? How do you rate their effectiveness?
Please reply
Best regards,
Happy New Year 2021
Dariusz Prokopowicz
Supporting and activating innovation and entrepreneurship requires the following: - 1- Funding activities related to information and communication technology and using new information and communication technology 2- Reforming educational systems to meet the needs of the knowledge society, thus enhancing the spread of knowledge. 3- Take advantage of research and development. 4- Training and organizing work and sharing skills and knowledge for the purpose of raising productive capabilities. 5- Adopting new organizational methods in taking decisions to increase market shares and quality of goods
Dear Amel Asmar Zaboon,
Thank you for your answer regarding the main methods and instruments of systemic support and activation of the development of innovation and entrepreneurship. This discussion shows that in many countries most of these instruments and methods of systemic support and activation of the development of innovation and entrepreneurship are similar and / or analogous. In the context of the current SARS-CoV-2 (Covid-19) coronavirus pandemic, the significance of systemic support and activation of the development of innovation and entrepreneurship is growing. In many countries, specific anti-crisis socio-economic policy intervention programs are currently being launched, one of the key objectives of which is to support and activate the development of innovation and entrepreneurship. It is necessary to increase outlays from the state finance system in order to develop systemic support and activate the development of innovation and entrepreneurship.
Best regards,
Happy New Year 2021
Dariusz Prokopowicz
Funding grants and financial aides are really crucial! Psychological and social support is key as well.
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