Holzmann Thomas Strascheg Centre for Entrepreneurship Thomas. Holzmann@sce. de Huuskonen Mikko Lappeenranta University of Technology & the Ministry of Employment and the Economy, Finland Mikko.
It calls for the spirit of entrepreneurship: curiosity, creativity and courage (for calculated risk-taking.
'Kirzner focused on entrepreneurship as a process of discovery, in which the entrepreneur looks for previously unnoticed profit opportunities, after
‘Entrepreneurship involves creating or discovering new ideas or opportunities for the purpose of creating value,
Stimulate High Expectation Entrepreneurship; Action No 10: Drive Intersectional Innovation; Action No 11: Promote Successful Innovators and Entrepreneurs as Heroes. 6 R E g I O N A l I N N O V A t I O N,
term=entrepreneurship. 4) Foray, D. 2013),‘Measuring Smart Specialisation'(S3 Thematic Workshop presentation. Available at:
These kinds of environments lower significantly the barrier of entrepreneurship, provided that other e g. legal conditions are favourable.
such as lacking entrepreneurship and business creation, and lacking impact on societal innovation. This demonstrates the need for a focal actor with no vested interests to steer
enterprise infrastructure focusing on entrepreneurship agenda within the university and professional and executive education units offering commercial programmes.
which act as venture capital to spur innovation, entrepreneurship and economic growth. According to the Thomson One database there were 26 university funds established between 1973 and 2010 24.
A further emphasis is placed on incorporating entrepreneurship creativity and innovation management subjects into university curriculum across subject areas.
The HBR Blog Network 29 has argued recently for revisiting business education placing emphasis on holistic thinking, global perspectives, technology, entrepreneurship,
Unit for Bio-entrepreneurship is concentrating on research and education concerning entrepreneurship. The‘mother company'KI Holdings takes care of economy and administration.
Pallot@nottingham. ac. uk Dr Thomas Holzmann Scientific Project Manager and Research Associate Strascheg Centre for Entrepreneurship Thomas. Holzmann@sce. de Piotr
or accelerators or they organise education programmes for entrepreneurship. Apart from capital e g. seed capital,
Design and innovation, entrepreneurship schools. Basaksehir Living Lab Innovation and Technology Centre The Basaksehir Living Lab Innovation and Technology Centre building is constructed in Basaksehir
L I V I N G L a b S 79 Contribution of Basaksehir Living Lab to innovation and entrepreneurship The incubation and experience centres at the Living Lab allow ideas to turn into products and services.
Chatterjee describes quite an interesting approach to entrepreneurship and growth. The Openeyif (Open European Youth Innovation Framework) sets a blueprint for an open innovation ecosystem for young entrepreneurs focusing on Open Innovation as process.
The roadmap includes presentation of new tools supporting entrepreneurship and interaction in the open space as well.
Highexpectation entrepreneurship occurs when disruptive technologies meet high ambition, creativity and hard work. HEE is especially important as according to a report from the Global Entrepreneurship Monitor,
HEE's contribute about 80%of all new jobs created. When HEE's attach themselves to fast moving ecosystems
supported by other actions focusing on web entrepreneurship, young innovators and interlinking policy actions with H2020 as well.
High-Expectation Entrepreneurship High-expectation entrepreneurship is the intersection of high ambition and disruptive technology to create growth businesses.
Technology Management Conference and 19th International Conference on Engineering, Technology and Innovation, ICE'2013‘Responsible Innovation and Entrepreneurship',The hague, The netherlands, 24 26 june 2013 (17
and inclusive) growth-driving entrepreneurship and innovation ecosystems (as well as clusters, networks and other agglomerations) at the regional level (23).
The ambition with this concept is to push for‘a sustainable development perspective that brings together innovation, entrepreneurship and democracy'(33.
The Sauna-masters have an understanding of entrepreneurship in advance of their years. They recognise that there is more to innovation than high tech:
They realise that promoting entrepreneurship is a matter of changing culture as much as providing money.
They are telling their schools to sing the praises of entrepreneurship. Many of the region's most interesting entrepreneurs operate at the low end of the tech spectrum,
innovation and entrepreneurship as drivers of knowledge societies'(9).(1) The area of‘Financial and Economic system'refers to financial and economic aspects of the effects of climate change.
9) The area of‘technology, innovation and entrepreneurship as drivers of knowledge societies'emphasises the fact that a sustainable development in knowledge societies can only be achieved
when innovations (with a new entrepreneurship) are developed further (see here the idea and concept of the‘Academic Firm',Campbell and Güttel. 2005;
Encyclopedia of Creativity, Innovation, and Entrepreneurship. New york, Springer. 14) Etzkowitz, H. 1998.‘‘The norms of entrepreneurial science Cognitive effects of the new university industry linkages.'
Global Warming as a Challenge and Driver for Innovation, Journal of Innovation and Entrepreneurship, August.
http://www. innovation-entrepreneurship. com/content/1/1/2 9 (further references:(29)( 30)( 31)( 32)( 33)( 34)( 36)( 37)( 38)( 40)( 42)( 43)( 54))(23) Carayannis, Elias G.,David F. J
and Entrepreneurship for Development. New york, NY: Springer (further references:(29)( 30)( 31)( 32)( 33)( 34)( 36)( 37)( 38)( 40)( 42)( 43)( 54))(23) Carayannis, E g.,
and it was the group most anchored in the arena of entrepreneurship that threw this topic into the debate.
Could entrepreneurship be an integrative force for the Knowledge Triangle components? Could it act as a facilitator and accelerator of different kinds of flows across the Triangle?
What could entrepreneurship mean in the specific context of the EIT and its KICS? For example, how would this concept materialise in a new funding model
How would it create value for large industry through entrepreneurship, open innovation learning environments, or corporate venturing?
The discussion on value creation strengthened the role of entrepreneurship as the very process during
and unanimously backed up the notion that focusing the innovation strategy of the EIT on entrepreneurship could be its unique selling proposition
and instilling entrepreneurship in this process. Their goal is to educate generations of entrepreneurial Europeans breed new high-growth companies,
a summer‘crash course'in entrepreneurship. Climate-KIC offers EIT-labelled degrees, including Phd level.
We celebrate their success with special entrepreneurship awards. The winners of the 2012 and 2013 competitions were Christopher Williams (Naked Energy) and Dominik Peus (Antaco) from Climate-KIC;
it would be that the EIT has managed to refocus European innovation processes on entrepreneurship and this has brought already
in order to place ownership, accountability and entrepreneurship into the centre of innovation, to overcome the silos mentality of the players within and between Member States and to catalyse the integration of the knowledge triangle.
as an example of applying criteria of entrepreneurship, sharing and co-creation and innovation as a strategy (5). Figure 2:
Government Creating policies to avoid penalising the failure of entrepreneurship and foster taking risks. It is known only a small percentage of all startups will succeed.
Entrepreneurship and implementation of innovation may be less risk if rely on theories and systematic approaches. On the other hand, the synergies generated through multidisciplinary studies
while the entrepreneurship ecosystem they will become part of will support them with access to finance (introduction to VCS, business angels, crowdfunding platforms, potential corporate sponsors/partners), markets, policy & decision-makers, business leaders & mentors and local
The role of entrepreneurship in U s. and European job growth, Monthly Labor Review, 123 (7), p. 3. 3. Bernoff J. and Li C. 2008.
innovation, intra/entrepreneurship, internationalisation and the creative industries. Flanders DC focuses on entrepreneurs, teachers, students, policy-makers and the general public.
December 2007, published in Dutch Entrepreneurship and globalization, Italo Colantone and Leo Sleuwaegen, December 2007 published in English HR Tools als stimulans voor creativiteit bij uw werknemers, Kristien Van Bruystegem
Just as in the case of QOD, Dirk Vens, CEO of Curana, was a highly sought-after speaker for seminars and conferences to address design, entrepreneurship,
We did not examine the entrepreneurship literature to analyze open innovation in SMES. Clearly, potential exists to connect the two literature streams to strengthen the analysis further.
entrepreneurship, and strategy is urgent to understand the richness of these open innovation cases. The three disciplines have been developing largely independently.
November 2008 1 This report is published under the SCALES-initiative (SCIENTIFIC Analysis of Entrepreneurship and SMES),
as part of the'SMES and Entrepreneurship programme'financed by The netherlands Ministry of Economic Affairs. Most recent EIM reports and much more on SMES and Entrepreneurship can be found at:
www. entrepreneurship-sme. eu. The responsibility for the contents of this report lies with EIM bv.
Quoting numbers or text in papers, essays and books is permitted only when the source is mentioned clearly.
R&d Management 36,319-331.45 The results of EIM's Research Programme on SMES and Entrepreneurship are published in the following series:
www. entrepreneurship-sme. eu. Recent Research Reports and Scales Papers H200818 10-11-2008 High-Growth SMES Evidence from The netherlands H200817 3
H200812 16-9-2008 Science and technology-based regional entrepreneurship in The netherlands: building support structures for business creation and growth entrepreneurship H200811 8-9-2008 What Determines the Growth Ambition of Dutch Early-Stage Entrepreneurs?
H200810 6-8-2008 The Entrepreneurial Advantage of World Cities; Evidence from Global Entrepreneurship Monitor Data H200809 25-7-2008 The Entrepreneurial Adjustment Process in Disequilibrium:
Entry and Exit when Markets Under and Over Shoot H200808 2-7-2008 Entrepreneurial Career Capital, Innovation and New Venture Export Orientation H200807 24-6-2008
Regional differences in Entrepreneurship in The netherlands H200804 19-2-2008 Samenwerken op afstand H200803 1-1-2008 Explaining Preferences and Actual Involvement in Self employment:
A Cross-country Analysis H200720 21-12-2007 Entrepreneurial exit in real and imagined markets H200719 21-12-2007 Modelling latent and actual entrepreneurship H200718
An empirical study of Dutch SMES H200717 21-12-2007 Entrepreneurship and innovation H200716 21-12-2007 Employment Growth of New Firms 46 H200715
21-12-2007 Entrepreneurial Culture and its Effect on the Rate of Nascent Entrepreneurship H200714 21-12-2007 Creative industries H200713 19-11-2007 New
H200624 13-12-2006 Creative Destruction and Regional Competitiveness H200623 6-12-2006 Entrepreneurship, Dynamic Capabilities and New Firm Growth H200622 1
The case of Great britain H200617 11-10-2006 On the relationship between firm age and productivity growth H200616 11-10-2006 Entrepreneurship and its determinants in a cross-country setting H200615 2
innovation, intra/entrepreneurship, internationalisation and the creative industries. Flanders DC focuses on entrepreneurs, teachers, students, policy-makers and the general public.
December 2007, published in Dutch Entrepreneurship and globalization, Italo Colantone and Leo Sleuwaegen, December 2007 published in English HR Tools als stimulans voor creativiteit bij uw werknemers, Kristien Van Bruystegem
Just as in the case of QOD, Dirk Vens, CEO of Curana, was a highly sought-after speaker for seminars and conferences to address design, entrepreneurship,
We did not examine the entrepreneurship literature to analyze open innovation in SMES. Clearly, potential exists to connect the two literature streams to strengthen the analysis further.
entrepreneurship, and strategy is urgent to understand the richness of these open innovation cases. The three disciplines have been developing largely independently.
36 4. 2. 1 Entrepreneurship...36 4. 2. 2 Access to finance...39 4. 2. 3 Internationalisation...
The OECDEUROSTAT Entrepreneurship Indicators Programme found that in 2006, the USA were ahead of most European countries for
Section 4. 1.)Specific policy issues Entrepreneurship: Certified coaching may help grow SMES and cross the chasm between pilot markets and mass markets.
Policies for high-growth innovative SMES v1. 6 9 (4) Entrepreneurship access to finance, SME internationalisation,
Chapter 4 analyses current policy developments, focusing on European and national policy approaches as well as specific issues related to entrepreneurship, access to finance, internationalisation and industry focus.
entrepreneurship/SMES (most relevant), economic and public policy, and innovation. Research in publications lists of major relevant public organisations such as the OECD and business associations.
and a sound publication track record in the fields of entrepreneurship and innovation. These experts had agreed to review drafts of this policy brief
Articles about high-growth SMES in entrepreneurship journals 2008 2010 For this Policy Brief, the volumes of 2008 2010 of major economic journals were scanned for articles about high-growth SMES.
There are more than 40 English-language journals dealing with entrepreneurship subjects. Top journals and second-level journals have been scrutinised (see Annex 1). Altogether 19 articles were found to deal with high-growth SMES.
The most notable initiative to make international data on entrepreneurship available may be the joint OECD-Eurostat Entrepreneurship Indicators Programme (EIP) launched in 2006.
p. 6. 33 See Baughn/Sugheir/Neupert (2008) who found that labor flexibility is a significant predictor of the prevalence rates of high-growth entrepreneurship.
A population survey of the Global Entrepreneurship Monitor 2010 in 21 innovation-oriented countries asked
This does not only apply to high-growth SME policies but to entrepreneurship policy in general: Economic research can as yet give no clear answers to the question
what entrepreneurship policies are particularly conducive. 47 While many authors are cautious about entrepreneurship policy interventions,
some argue that governmental policy for promoting technological entrepreneurship can contribute to the vitalisation of the national economy through the generation of new jobs
and innovation. 48 Among the most prominent studies about policies for high-growth enterprises are the ones by the OECD (2010) and Autio (2007).
involving experienced managers. 53 The authors conclude that the time for generic entrepreneurship policy has passed,
Principal differences between general SME policy and high-growth SME policy SMES Policy High-Growth Entrepreneurship Policy Policy Goals Objectives in relation to entrepreneurs
promoting entrepreneurship, facilitating access to markets and disseminating good practices. 55 While there is no support programme of the European commission directly
The Accelerace team has a wide network including for example venture capitalists, entrepreneurship organisations, technology transfer offices,
However, such policies are planned (see section 5. 5). 4. 2 Special policy themes 4. 2. 1 Entrepreneurship Overview of entrepreneurship policies Entrepreneurship is the act of starting
so that entrepreneurship policies can be defined as political measures to support the start or growth of a company.
Hence policies to support highgrowth SMES are a special part of entrepreneurship policies. Both general entrepreneurship policies and high-growth entrepreneurship policies may use instruments related to the innovation
and growth triangle as described in section 2. 3, i e. they may be related to facilitating access to resources, incentives and markets.
p. 9. 95 See http://ec. europa. eu/enterprise/entrepreneurship/financing/publications documents. htm. 96 See OECD (2010), p. 11.
Some economists take the opinion that only the market can determine what the optimal amount of entrepreneurship is.
South korea Entrepreneurship (start-up and growth of SMES) Yes Singapore Internationalisation of SMES Yes Canada SMES'access to finance Yes Japan General SME policy No Israel General SME policy No Policies
policies for entrepreneurship, SME innovation and Policies for high-growth innovative SMES v1. 6 54 SME internationalisation.
Entrepreneurship policies Recent activities to foster business start-ups In order to mitigate the negative effects of the economic crisis
the venture businessmen's special lecture programmes on entrepreneurship at universities; the youth start-up education programme;
'Entrepreneurship and SMES in Southeast asia'.'Singapore: Seng Lee Press, 2004. Economic Stimulus and Expansionary Budgets:
"This programme aims at encouraging technological innovation and entrepreneurship by granting limited financial support to new industrial projects during their very first steps.
1) new entrepreneurship projects, with innovative technological ideas;(2) projects to upgrade traditional industry, aimed at developing new technology or products;(
whether publicly sponsored direct support for promising innovative SMES see examples in section 4. 1. 2 of this report are more effective and efficient than indirectly supporting growth-oriented entrepreneurship training programmes.
entrepreneurship, access to finance, and internationalisation. Enhanced entrepreneurship policies Establishing a network of certified coaches across Europe There have been several initiatives to establish professional coaching networks for SMES in Europe,
also by the European commission (see section 4. 2. 1). However, many SMES do not take advantage of coaching opportunities,
Promoting serial entrepreneurs Entrepreneurship policies may not have to consider the question how to identify SMES with high growth potential.
Thus, entrepreneurship policy may, more basically, have to seek to ensure that there are entrepreneurs who are able to generate companies
and their importance may not yet be understood fully by policy makers. 179 In order to foster the emergence and proliferation of serial entrepreneurship,
Comprehensive entrepreneurship policy(..should(..()be multilayered. Policies addressing one level alone may not lead to successive outcomes,
is likely to make a difference for high-growth entrepreneurship. Balancing SME policies with economic policies at large The question of balancing policies for general and high-growth SMES may have to be asked even broader:
however, that the positive impacts of high-growth entrepreneurship in themselves are no ground for political activity;
Entrepreneurship theory and practice, Vol 34, No. 2, pp. 289-316. Acs, Zoltan J.;Mueller, Pamela (2008:
Discussion Papers on Entrepreneurship, Growth and Public Policy; Max Planck Institute of Economics. Ahmad, Nadim;
Statistics Directorate, OECD. Paper prepared for the International Consortium on Entrepreneurship (ICE) Meeting 22-23 february 2007, Copenhagen, Denmark.
Public policy support for entrepreneurship. In: Industry and Innovation, Vol. 11, Issue 3, pp. 167-191.
Global Entrepreneurship Monitor 2007 Global Report on High-Growth Entrepreneurship. GERA: London. Available at http://www. gemconsortium. org/download. asp?
Frontiers of Entrepreneurship Research, Volume 28, Issue 18. Bianchi, Carmine; Winch, Graham W. 2009: Supporting value creation in SMES through capacity building and innovation initiatives:
Global Entrepreneurship Monitor (GEM) Länderbericht Deutschland. Hannover/Nuremburg. Policies for high-growth innovative SMES v1. 6 98 Centre for Strategy and Evaluation Services;
Final Evaluation of the Entrepreneurship and Innovation Programme. Framework Service contract for the Procurement of Studies and other Supporting Services on Commission Impact Assessments and Evaluations Interim, final and ex-post evaluations of policies, programmes and other activities.
Main characteristics of technological entrepreneurship and the impact of governmental policies in Korea. In: International Journal of Entrepreneurship and Innovation Management, Vol. 12, Nos. 3-4, pp. 311-329.
Littunen, Hannu; Niittykangas (2010: The rapid growth of young firms during various stages of entrepreneurship. In:
Journal of Small Business and Enterprise Development. Vol 17, No. 1, pp. 8-31. Mason, Colin;
Entrepreneurship Theory and Practice, Vol. 32, Issue 3, pp. 779-790. Murray, Gordon; Hyytinen, Ari;
Growth Entrepreneurship and Finance. In: Ministry of Education and the Ministry of Employment and the Economy:
Entrepreneurship Theory and Practice, Vol. 32, Issue 3, pp. 507-528. OECD, Organisation for Economic Cooperation and Development (2009:
Measuring Entrepreneurship. A Collection of Indicators. 2009 Edition. OECD-Eurostat Entrepreneurship Indicators Programme. OECD, Organisation for Economic Cooperation and Development (2010a:
SMES, entrepreneurship and innovation. OECD Studies on SMES and Entrepreneurship. OECD, Organisation for Economic Cooperation and Development (2010b:
Measuring Entrepreneurship. The OECD-Eurostat Entrepreneurship Indicators Programme. By Mariarosa Lunati, Jeroen Meyer zu Schlochtern and Gueram Sargsyan.
OECD Statistics Brief, November 2010, No. 15. OECD, Organisation for Economic Cooperation and Development (2010c:
High-Growth Enterprises: What Governments Can Do to Make a Difference, OECD Studies on SMES and Entrepreneurship, OECD Publishing.
OECD, Organisation for Economic Cooperation and Development/Eurostat (2005: Oslo Manual. Guidelines for collecting and interpreting innovation data.
The Measurement of Scientific and Technological Activities. Third edition. A joint publication of OECD and Eurostat.
Global Entrepreneurship and the Successful Growth Strategies of Early-Stage Companies. A World Economic Forum Report in collaboration with Stanford university, Graduate school of Business, SPRIE and STVP.
Journal articles on high-growth SMES 2008-2010 The study team scanned the following entrepreneurship journals and other journals for articles about highgrowth companies.
Top level entrepreneurship journals Public policy journals 1 Journal of Business Venturing 2 Entrepreneurship Theory
& Practice 3 Small Business Economics 4 Journal of Small Business Management 1 Cato 2 Journal of Public Policy and Management Level 2 entrepreneurship
and Entrepreneurship 3 International Journal of Entrepreneurship and Innovation Management 4 International Small Business Journal 5 Journal of Developmental Entrepreneurship 6 Venture capital 7 International
Journal of Entrepreneurship 8 Journal of Enterprising Culture 9 Small Business and Enterprise Development 1 Harvard Business Review 2 California Management Review 3
entrepreneurship journals dealing with high-growth SMES in 2008-2010. Full references are included in the Reference section of this Policy Brief.
Articles on high-growth SMES in entrepreneurship journals 2008-2010 Year Author (s) Journal/Article title Top Level Journal of Business Venturing 2008 Hyung
2009 Harms/Ehrmann Firm-level entrepreneurship and performance for German Gazelles 2009 Bianchi/Winch Supporting value creation in SMES through capacity building and innovation initiatives:
the danger of provoking unsustainable rapid growth Journal of Small Business and Entrepreneurship 2010 Baughn et al Labor Flexibility and the Prevalence Of high-Growth Entrepreneurial Activity 2009 Harms A Multivariate analysis
and Their Market International Journal of Entrepreneurship and Innovation Management 2010 Zhou et al Entrepreneurial innovation problems associated with the dynamic growth of university spin outs in China Policies for high-growth innovative SMES
2010 Littunen/Niittykangas The rapid growth of young firms during various stages of entrepreneurship 2008 Zhang et al A quantitative analysis of the characteristics of rapid-growth firms and their entrepreneurs in China Source:
inspire, and accelerate high-growth entrepreneurship throughout the nation.(.President Obama has called on both the federal government
36 4. 2. 1 Entrepreneurship...36 4. 2. 2 Access to finance...39 4. 2. 3 Internationalisation...
The OECDEUROSTAT Entrepreneurship Indicators Programme found that in 2006, the USA were ahead of most European countries for
Section 4. 1.)Specific policy issues Entrepreneurship: Certified coaching may help grow SMES and cross the chasm between pilot markets and mass markets.
Policies for high-growth innovative SMES v1. 6 9 (4) Entrepreneurship access to finance, SME internationalisation,
Chapter 4 analyses current policy developments, focusing on European and national policy approaches as well as specific issues related to entrepreneurship, access to finance, internationalisation and industry focus.
entrepreneurship/SMES (most relevant), economic and public policy, and innovation. Research in publications lists of major relevant public organisations such as the OECD and business associations.
and a sound publication track record in the fields of entrepreneurship and innovation. These experts had agreed to review drafts of this policy brief
Articles about high-growth SMES in entrepreneurship journals 2008 2010 For this Policy Brief, the volumes of 2008 2010 of major economic journals were scanned for articles about high-growth SMES.
There are more than 40 English-language journals dealing with entrepreneurship subjects. Top journals and second-level journals have been scrutinised (see Annex 1). Altogether 19 articles were found to deal with high-growth SMES.
The most notable initiative to make international data on entrepreneurship available may be the joint OECD-Eurostat Entrepreneurship Indicators Programme (EIP) launched in 2006.
p. 6. 33 See Baughn/Sugheir/Neupert (2008) who found that labor flexibility is a significant predictor of the prevalence rates of high-growth entrepreneurship.
A population survey of the Global Entrepreneurship Monitor 2010 in 21 innovation-oriented countries asked
This does not only apply to high-growth SME policies but to entrepreneurship policy in general: Economic research can as yet give no clear answers to the question
what entrepreneurship policies are particularly conducive. 47 While many authors are cautious about entrepreneurship policy interventions,
some argue that governmental policy for promoting technological entrepreneurship can contribute to the vitalisation of the national economy through the generation of new jobs
and innovation. 48 Among the most prominent studies about policies for high-growth enterprises are the ones by the OECD (2010) and Autio (2007).
involving experienced managers. 53 The authors conclude that the time for generic entrepreneurship policy has passed,
Principal differences between general SME policy and high-growth SME policy SMES Policy High-Growth Entrepreneurship Policy Policy Goals Objectives in relation to entrepreneurs
promoting entrepreneurship, facilitating access to markets and disseminating good practices. 55 While there is no support programme of the European commission directly
The Accelerace team has a wide network including for example venture capitalists, entrepreneurship organisations, technology transfer offices,
However, such policies are planned (see section 5. 5). 4. 2 Special policy themes 4. 2. 1 Entrepreneurship Overview of entrepreneurship policies Entrepreneurship is the act of starting
so that entrepreneurship policies can be defined as political measures to support the start or growth of a company.
Hence policies to support highgrowth SMES are a special part of entrepreneurship policies. Both general entrepreneurship policies and high-growth entrepreneurship policies may use instruments related to the innovation
and growth triangle as described in section 2. 3, i e. they may be related to facilitating access to resources, incentives and markets.
p. 9. 95 See http://ec. europa. eu/enterprise/entrepreneurship/financing/publications documents. htm. 96 See OECD (2010), p. 11.
Some economists take the opinion that only the market can determine what the optimal amount of entrepreneurship is.
South korea Entrepreneurship (start-up and growth of SMES) Yes Singapore Internationalisation of SMES Yes Canada SMES'access to finance Yes Japan General SME policy No Israel General SME policy No Policies
policies for entrepreneurship, SME innovation and Policies for high-growth innovative SMES v1. 6 54 SME internationalisation.
Entrepreneurship policies Recent activities to foster business start-ups In order to mitigate the negative effects of the economic crisis
the venture businessmen's special lecture programmes on entrepreneurship at universities; the youth start-up education programme;
'Entrepreneurship and SMES in Southeast asia'.'Singapore: Seng Lee Press, 2004. Economic Stimulus and Expansionary Budgets:
"This programme aims at encouraging technological innovation and entrepreneurship by granting limited financial support to new industrial projects during their very first steps.
1) new entrepreneurship projects, with innovative technological ideas;(2) projects to upgrade traditional industry, aimed at developing new technology or products;(
whether publicly sponsored direct support for promising innovative SMES see examples in section 4. 1. 2 of this report are more effective and efficient than indirectly supporting growth-oriented entrepreneurship training programmes.
entrepreneurship, access to finance, and internationalisation. Enhanced entrepreneurship policies Establishing a network of certified coaches across Europe There have been several initiatives to establish professional coaching networks for SMES in Europe,
also by the European commission (see section 4. 2. 1). However, many SMES do not take advantage of coaching opportunities,
Promoting serial entrepreneurs Entrepreneurship policies may not have to consider the question how to identify SMES with high growth potential.
Thus, entrepreneurship policy may, more basically, have to seek to ensure that there are entrepreneurs who are able to generate companies
and their importance may not yet be understood fully by policy makers. 179 In order to foster the emergence and proliferation of serial entrepreneurship,
Comprehensive entrepreneurship policy(..should(..()be multilayered. Policies addressing one level alone may not lead to successive outcomes,
is likely to make a difference for high-growth entrepreneurship. Balancing SME policies with economic policies at large The question of balancing policies for general and high-growth SMES may have to be asked even broader:
however, that the positive impacts of high-growth entrepreneurship in themselves are no ground for political activity;
Entrepreneurship theory and practice, Vol 34, No. 2, pp. 289-316. Acs, Zoltan J.;Mueller, Pamela (2008:
Discussion Papers on Entrepreneurship, Growth and Public Policy; Max Planck Institute of Economics. Ahmad, Nadim;
Statistics Directorate, OECD. Paper prepared for the International Consortium on Entrepreneurship (ICE) Meeting 22-23 february 2007, Copenhagen, Denmark.
Public policy support for entrepreneurship. In: Industry and Innovation, Vol. 11, Issue 3, pp. 167-191.
Global Entrepreneurship Monitor 2007 Global Report on High-Growth Entrepreneurship. GERA: London. Available at http://www. gemconsortium. org/download. asp?
Frontiers of Entrepreneurship Research, Volume 28, Issue 18. Bianchi, Carmine; Winch, Graham W. 2009: Supporting value creation in SMES through capacity building and innovation initiatives:
Global Entrepreneurship Monitor (GEM) Länderbericht Deutschland. Hannover/Nuremburg. Policies for high-growth innovative SMES v1. 6 98 Centre for Strategy and Evaluation Services;
Final Evaluation of the Entrepreneurship and Innovation Programme. Framework Service contract for the Procurement of Studies and other Supporting Services on Commission Impact Assessments and Evaluations Interim, final and ex-post evaluations of policies, programmes and other activities.
Main characteristics of technological entrepreneurship and the impact of governmental policies in Korea. In: International Journal of Entrepreneurship and Innovation Management, Vol. 12, Nos. 3-4, pp. 311-329.
Littunen, Hannu; Niittykangas (2010: The rapid growth of young firms during various stages of entrepreneurship. In:
Journal of Small Business and Enterprise Development. Vol 17, No. 1, pp. 8-31. Mason, Colin;
Entrepreneurship Theory and Practice, Vol. 32, Issue 3, pp. 779-790. Murray, Gordon; Hyytinen, Ari;
Growth Entrepreneurship and Finance. In: Ministry of Education and the Ministry of Employment and the Economy:
Entrepreneurship Theory and Practice, Vol. 32, Issue 3, pp. 507-528. OECD, Organisation for Economic Cooperation and Development (2009:
Measuring Entrepreneurship. A Collection of Indicators. 2009 Edition. OECD-Eurostat Entrepreneurship Indicators Programme. OECD, Organisation for Economic Cooperation and Development (2010a:
SMES, entrepreneurship and innovation. OECD Studies on SMES and Entrepreneurship. OECD, Organisation for Economic Cooperation and Development (2010b:
Measuring Entrepreneurship. The OECD-Eurostat Entrepreneurship Indicators Programme. By Mariarosa Lunati, Jeroen Meyer zu Schlochtern and Gueram Sargsyan.
OECD Statistics Brief, November 2010, No. 15. OECD, Organisation for Economic Cooperation and Development (2010c:
High-Growth Enterprises: What Governments Can Do to Make a Difference, OECD Studies on SMES and Entrepreneurship, OECD Publishing.
OECD, Organisation for Economic Cooperation and Development/Eurostat (2005: Oslo Manual. Guidelines for collecting and interpreting innovation data.
The Measurement of Scientific and Technological Activities. Third edition. A joint publication of OECD and Eurostat.
Global Entrepreneurship and the Successful Growth Strategies of Early-Stage Companies. A World Economic Forum Report in collaboration with Stanford university, Graduate school of Business, SPRIE and STVP.
Journal articles on high-growth SMES 2008-2010 The study team scanned the following entrepreneurship journals and other journals for articles about highgrowth companies.
Top level entrepreneurship journals Public policy journals 1 Journal of Business Venturing 2 Entrepreneurship Theory
& Practice 3 Small Business Economics 4 Journal of Small Business Management 1 Cato 2 Journal of Public Policy and Management Level 2 entrepreneurship
and Entrepreneurship 3 International Journal of Entrepreneurship and Innovation Management 4 International Small Business Journal 5 Journal of Developmental Entrepreneurship 6 Venture capital 7 International
Journal of Entrepreneurship 8 Journal of Enterprising Culture 9 Small Business and Enterprise Development 1 Harvard Business Review 2 California Management Review 3
entrepreneurship journals dealing with high-growth SMES in 2008-2010. Full references are included in the Reference section of this Policy Brief.
Articles on high-growth SMES in entrepreneurship journals 2008-2010 Year Author (s) Journal/Article title Top Level Journal of Business Venturing 2008 Hyung
2009 Harms/Ehrmann Firm-level entrepreneurship and performance for German Gazelles 2009 Bianchi/Winch Supporting value creation in SMES through capacity building and innovation initiatives:
the danger of provoking unsustainable rapid growth Journal of Small Business and Entrepreneurship 2010 Baughn et al Labor Flexibility and the Prevalence Of high-Growth Entrepreneurial Activity 2009 Harms A Multivariate analysis
and Their Market International Journal of Entrepreneurship and Innovation Management 2010 Zhou et al Entrepreneurial innovation problems associated with the dynamic growth of university spin outs in China Policies for high-growth innovative SMES
2010 Littunen/Niittykangas The rapid growth of young firms during various stages of entrepreneurship 2008 Zhang et al A quantitative analysis of the characteristics of rapid-growth firms and their entrepreneurs in China Source:
inspire, and accelerate high-growth entrepreneurship throughout the nation.(.President Obama has called on both the federal government
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