economic entities, commoditised knowledge producers, shapers of human capital and institutional actors in networks. The first two functions focus on universities†direct
The Capital Region Growth Forum in Hovedstaden (2007-2020) is the most important regional body for innovation and
human capital, infrastructures, access to finance and knowledge exchange between public research base and entrepreneurs
Research into human capital has suggested that innovation-driven growth in small and medium sized firms is fostered by a broad range of capabilities both managerial and
Human and social capital in turn also activate networking opportunities and increase firms†absorptive capacities, defined as the capacity of make use of external
the consequent loss of autonomy, the reduction (or qualitative change) in social capital (instead of people actually meeting in person with all the personal interactions that usually shape
This in turn, generates strong social capital (both some bonded and bridging types) amongst user communities.
and significant building of social capital (mainly bonding, but also some bridging types), including an alumni community providing an on-and
community and local life, thereby generating strong social capital. A prime focus of all three cases is
as knowledge communities which also build social capital. All three main types of networks are
capital amongst user communities. All three cases also started as mainly small world networks, but
-Social capital both bonding & bridging -Starting as small world scaling to scale-free -Collaboration
-Social capital mainly bonding, some bridging -Starting as small world scaling to scale-free with some
and where important social innovation benefits arise especially in the form of social capital with mainly bonded
especially in the form of social capital with mainly bonded but also bridging local ties. The IOBY
-Social capital mainly bonding, some bridging -Starting as small world scaling to scale-free with some
-Social capital mainly bonding, some bridging -Starting as small world scaling to scale-free with some
-Social capital mainly bonding, some bridging Mainly small world, with some scaling to scale-free
innovation benefits arise especially in the form of social capital with mainly bonded but also some bridging local ties.
important social innovation benefits arise especially in the form of social capital with mainly bonded but also bridging local ties.
facilitate important social innovation benefits especially in the form of social capital with both bonded and bridging ties,
-Raise nonfinancial support (smart capital) to support social innovation -Increase the probability of numerous types of actors to donate
To build social capital between the â€oehiv community†(HIV-positive people and those who aim to help) and the rest of the
To de-stigmatise is to build social capital, or the condition of the possibility for building
bridging social capital. But the approach also aims to make people actually engage, donate, vote, etc
i e. to build bonding social capital Social innovation outcomes In the following the social innovation outcomes and their beneficiaries reported by the cases are summarised
and increase social capital, with the MOOCS being the exception of also including random network effects and scale-free networks.
social capital Starting as small world scaling to scale-free -Building capacity and skills -Trust
-Social capital Online small world support network issue depending scaling to scale free -Building capacity and
Social Capital Among African -American and Latin-american Low-Income Mothersâ€, Social Problems, Vol. 50, No.
Perez, C (2004) â€oetechnological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Agesâ€, IBM
important types of social capital have been identified by Putnam (2007), and these are particularly important in the context of ICT as well as for issues of inclusion
x Bonding social capital: tight, strong ties with the most immediate family members closest friends and within closely knit communities of like-minded people that are
x Bridging social capital: rather more loose, less committed connections to acquaintances, colleagues, and far-flung, weaker ties between rather diverse
dropout rates and equipping human capital with improved skills. Professional profiles and training provisions should also be adapted to the real needs of the production
knock-on effects focused on ICT (linked to Barcelona Mobile World Capital) and on sustainable mobility (electric vehicles, development of new businesses and economic
Innovation, Society and Social Capital research unit at T6 Ecosystems, a research SME based in Rome, Italy
These include an increase in social capital, i e. the immaterial wealth derived from having links with certain people as a means to reach other
Portes, A. 1998)' Social Capital: Its Origins and Applications in Modern Sociology'.'Annual Review of Sociology
topic of cultural capital as a major asset to European society, an asset that he believes can
development of social capital, which ultimately depends on the cultural capacity of citizens and on the quality of their everyday life
THE DEVELOPMENT OF SOCIAL CAPITAL, WHICH ULTIMATELY DEPENDS ON THE CULTURAL CAPACITY OF CITIZENS '56 a priority, a consideration that prompts major
accumulation of social capital Museums and their representatives can play a leading role in this endeavour.
elementary components of social capital If understood and managed as complex realities to be embedded fully into the society
contributing to the growth of social capital in Europe and eventually to every citizen's well
dependence on technology, high-tech skills and human capital are required arguably also for successfully doing business in the digital age
Innovative and growth-oriented SMES and entrepreneurs often depend on capital from external sources as they do not have their own resources
start-ups, crowdfunding might be one of the solutions for restoring capital to entrepreneurs and SMES
not only provide start-up capital for SMES and entrepreneurs, it includes several nonfinancial benefits: validation of product features, market segmentation, price
20 Directive designed to improve the quality of information provided to investors by companies wishing to raise capital in
4. Human capital and skills †equipping the labour force for industrial transformations notably by better anticipating skills needs and mismatches
-up capital, type of business, controlling interest, business plan requirements, etc. in order to guarantee a certain level of harmonisation across Member States
consider whether private capital can be used to expand the passive broadband infrastructure, for example, the civil
ICT entrepreneurs identify their greatest needs as start-up capital and opportunities to network with business people and other technology entrepreneurs.
An increasing number of mobile phone resources are enabling entrepreneurs to access capital, process transactions, refine product design,
Social capital and collaborative/peer learning Source: Authors In the context of youth employment, it is important to consider the benefits that participating in
have less social and financial capital, smaller business networks, and less experience. Government programmes and policies can create favourable conditions to launch
Venture capital Financial capital invested in start-up companies Web 2. 0 Websites that allow users to interact,
Seeded with capital from the Lions club and the United nations Development Programme, the company improves health conditions
balance sheets to return capital to investors. The results were often commoditization, price competition, little true innovation
Since 2000, Root Capital has lent more than $200 million to 282 businesses, through which it has reached 400,000 farmers and artisans.
Root Capital regularly works with corporations, utilizing future purchase orders as collateral for its loans to farmers and helping to strengthen corporate supply chains
The partnerships bring in NGOS like Technoserve and Root Capital, as well as government officials, to work on precompetitive issues that improve the cluster and upgrade the value chain for all
as relevant and exclude impact on education and human capital because its outputs and its activities are not leading to this kind of impacts
Innovation, Society and Social Capital research unit at T6 Ecosystems, a research SME based in Rome, Italy
These include an increase in social capital, i e. the immaterial wealth derived from having links with certain people as a means to reach other
Portes, A. 1998)' Social Capital: Its Origins and Applications in Modern Sociology'.'Annual Review of Sociology
or the UK€ s Big Society Capital fund and India†s Inclusive Investment Fund. They combine investments in new hardware and software with experi
the social capital and wellbeing of local areas What is measured? Common standards of evidence and adoption
The NEEM organisation has provided training, social support, loans and capital to budding entrepreneurs from ethnic minority backgrounds who are †un-bankableâ€.
and capital to clients but has helped already to raise the profile of microfinance in Sweden.
that develops promising ideas into new ventures by providing funding, social capital and entrepreneurial expertise
with a focus on human capital. It combines technological and social innovation. More than 3, 000 people were involved in consultations which included surveys of
to address complex social problems which call for investment into human capital, skills, institutions organisational structures, technology, equipment, infrastructure etc. at the same time.
human capital investment or infrastructure, and this aspect has to be taken into account during the
the use of capital accumulated in social enterprises and in particular asset locks...109 7t A b L E O F C O N t E N t S
economic concepts of capital and investment have become social policy instruments and corporate social responsibility is shifting from being a matter of charity to one of
The four freedoms (free circulation of goods, services, capital and people) at the heart of
charities, foundations and public support, in particular when growth capital is needed to engage in long-term ventures
-tems and the harnessing of contributions to expansion capital from a variety of sources The Social Business Initiative has addressed also the question of the status of social
2020 Strategy should aim to invest in human capital and avoid sluggish produc -tivity growth, achieved at the expense of social inclusion, public health, education
making the most of our human capital 1. 1. 1. A resource-efficient Europe The Resource-Efficient Europe flagship initiative,
-tween the important long-term returns on human capital and social investments on the one hand and the necessity of keeping public budgets in balance on the other hand, the
human capital y consider award schemes for social entrepreneurs; and y focus on social policy experimentation in support of SIP actions, for example †hous
capital and mezzanine finance to expansion and growth-stage SMES y improving access to markets, particularly inside the EU but also at global level, e g
for the European capital of Innovation will enhance the role of cities as ecosystems driving innovation.
limited access to capital, which employ fewer than 250 people and have an annual turn
-tutions to provide small loans to those who lack access to traditional capital (like social
the use of capital accumulated in social enterprises and in particular asset locks The Commission was planning to finance a study on the question of asset locks in order
Building on a growing social capital, the EIP€ s genuine focus is on long-term societal challenges related to an ageing population.
Best practice sharing between Member States regarding the use of capital accumulated in social enterprises and in particular asset locks
Civil society lacks the capital, skills and resources to take promising ideas to scale Rising costs
•Sources of finance, both start-up capital in the short term and income streams over the longer term
as new capital is brought in), and they cannot be tied indefinitely to a mission or a set of values.
the private market†s imperative for profit maximisation and capital growth. One example is Working Rite,
and governance reinforce relational capital, creating a source of resilience for when the enterprise goes through difficult times
significant source of engagement and capital. Most businesses see AGMS as an annoying necessity where small shareholders can vent their anger
Relational capital New ventures put much of their energy into securing financial capital †money
relational capital is just as important. This is both the knowledge and trust built up between a venture and its users and suppliers, and the relationships
takes little account of this intangible capital, yet in all social ventures it is the
We use the concept of relational capital to capture the quality of relationships within which economic exchanges take place.
capital may involve some compromise with the providers of capital, but the goal should always be to find ways for the core finance to come from those
This is how My Football Club raised enough capital to purchase Ebbsfleet United 149) Public share issues are most suitable at times of expansion, when the
director is given enough start-up capital and decides what he/she needs in terms of staff and equipment.
rough assessments of the relational capital they bring. Not surprisingly, these tools and approaches are rare â€
and social entrepreneurs with business skills, networks, and capital to stimulate innovation, and accelerate the creation and growth of successful
its own lacks the capital, surplus time, and organisational capacity to develop them Here, we look at some of the methods used within each sector to promote
-scale in terms of funds, commitment of people and political capital. But serious innovation is tied closely into strategy.
/return and different sources of capital (philanthropic, public, private such as Blueorchard (Switzerland) or Big Issue Invest in the UK
New Philanthropy Capital in the UK and Geneva Global in the US perform this role
New Philanthropy Capital in the UK Packages of support A network of support services for grant-based organisations has developed
New Philanthropy Capital 171; 175 New York†s Open Book 154 New zealand Police Act Wiki 42-43
Relational Capital 74-77 Report Empty Homes 18 Research & Mapping 17-20 Risk 54;
Wikipedia defines it as financial capital provided to early-stage, high-potential, growth start-up companies.
Exposure and capital Innovation labs Public funding (initial and projects Fostering growth Bridging the digital gap
seed funding is very important but also, capital throughout later stages is needed. Literature and research has shown that many start-ups fail.
and accessible capital, and it will be impeded where capital is monopolized by urban elites or government. In politics and government
the conditions are likely to include competing parties, think tanks, innovation funds, contestable markets, and plentiful pilots,
human capital, diï €used knowledge and skills; technical infrastructures; entrepreneurial culture and critical mass of available services.
It also records the paid-in minimum capital that companies must deposit before registration (or
Paid-in minimum capital(%of income per capita Deposited in a bank or with a notary before
ï Has a start-up capital of 10 times income per capita ï Has a turnover of at least 100 times income per
capital of 13.8%of income per capita (figure 2. 1). Most indicator sets refer to a case scenario in the largest
Paid-in minimum capital(%of income per capita: 13.8 Note: Time shown in the figure above may not reflect simultaneity of procedures.
and decreasing the minimum capital requirement DB2014 Spain made starting a business easier by eliminating the
Start-up Capital: 10 times GNI per capita Table 2. 2 Summary of time, cost and procedures for starting a business in Spain
share capital and complexity of the operation) and registration costs EUR 155 to EUR 300 (depending on the amount of the share capital
companies to raise the capital they need to grow innovate, diversify and compete. Effective regulations
company†s share capital inspect the transaction documents 0-1 No 0 Can the plaintiff obtain any documents from the defendant Any relevant document 3
economies have paid no-in minimum capital requirement (table 15.1 in the Doing Business 2015 report
including time, cost, minimum capital and number of payments to pay taxes), and the 99th percentile is used
The EU sank nearly â 1. 9 trillion into ICT capital in 1995-2001, an average growth rate of over 19%per
of capital in ICT goods and services. 2 ICT gross fixed capital formation in the EU totalled nearly â 1. 9 trillion in 1995
The amount of equity capital available for new and early-stage ventures in Europe is beginning to
endowments/human capital. To increase the explanatory power of the framework†and also to have
between labour and capital, and returning manufacturing capabilities to developed national contexts United states, Canada, Northern europe) in the case of 3-D printing (Desmoulin-Canselier 2012;
social capital and cultural identities (Ellison et al. 2011; Oh et al. 2014; Steinfield et al. 2012. These
and Human Capital, Ann Harbor: UMI, 1974 pp. 81-90. As of 08/03/2013: http://www. nber. org/chapters/c2963
Brooks, R.,Population Aging and Global Capital Flows in a Parallel Universe, IMF Staff Papers, Vol. 50
social capital needs in a social media environment. In Privacy online (pp. 19-32. Springer Berlin
'Social Capital, Civic Engagement and Political Participation. Journal of Computer-Mediated Communication, 17: 319†336. doi:
"Social Capital and Well-being In times of Crisis."Journal of Happiness Studies: 1-18 Hennig-Thurau, T.,Malthouse, E. C.,Friege, C.,Gensler, S.,Lobschat, L.,Rangaswamy, A.,& Skiera
. and S. Kc,"Global human capital: integrating education and population,"Science, Vol. 333 No. 6042, Jul 29, 2011, pp. 587-592. http://www. ncbi. nlm. nih. gov/pubmed/21798940
Social Capital, †Frontiers in New Media Research, 15,115, 2010 Stieglitz, S. and L. Dang-Xuan (2012."
The Needs of Technology Developers †Looking Beyond Seed Capital...21 The Added Value of R&d for Lead Technology Users...
of production, such as land, labour and capital, towards knowledge-based economic activities. The ability of SMES in the OECD to create,
Substituting capital and technology for labour, along with shifting production to lower-cost locations has resulted in waves of corporate downsizing throughout Europe and North america.
1) capital equipment or input-embodied innovation, and (2) design innovation. In capital equipment based innovation firms acquire new process technologies or intermediate
input is inherently different than the more traditional inputs of labour, capital and land because the value of
new economic knowledge include a high degree of human capital, a skilled labour force, and the strong
and high investments in human capital â'Continual innovation. Both the nature of the products,
proprietary knowledge or a position of market leadership or human capital. The second factor is that the
The Needs of Technology Developers †Looking Beyond Seed Capital 73. Several studies have shown that public funding in the form of R&d grants plays a decisive role
cheap sources of seed capital and the sums received can total several Million euros in their start up stage
Governments should encourage such a trend by improving the conditions for private capital investments to
Public R&d grants were the only viable source of seed capital in Europe during most of the
First, the amount of European seed capital from non -government sources has been rising constantly. Although these sources of seed capital are much more
expensive than a public R&d grant or loan (EVCA figures show that seed capital funds earned in 1998
about 36%on their invested capital per annum), they are obtained easily and can be spent with great
and only later resort to private capital sources for business development needs. Second, public agencies employ a large numbers of
necessary since these firms do not have the cash flow or capital to initiate R&d activities,
emergence of private capital sources reduced the necessity of public grants for this group. Since R&d
if no seed capital is available, its development should be stimulated 98. The second group, the leading technology users, has benefited the most from the recent SME
Zucker, L.,Darby, M. and Armstrong, J.,1994, †Intellectual Capital and the Firm: The Technology of
social capital its network creates (Stam & Elfring, 2008) exerts a contingent effect on the link
Social Capital, Structural Holes and the Formation of an Industry Network. Organization Science, 8 (2), 109-125
The moderating role of intra-and extraindustry social capital Academy of Management Journal, 51 (1), 97-111
Human capital and the labour market, by Karen Chapple and Sergio Montero -Muã oz ï Chapter III:
Human capital and the labour market...6 Contribution of research organisations...7 Entrepreneurship...9 SME development...
HUMAN CAPITAL AND THE LABOUR MARKET...32 Introduction...32 Policy issues...32 Assessment of the region...
Human capital and labour market...128 Contribution of research organisations...128 Entrepreneurship and start-ups...130 SME development...
i) the impact of human capital and the labour market on entrepreneurship and SME development; ii
Human capital and the labour market The Andalusia labour market is affected by structural weaknesses High levels of unemployment, large numbers of temporary workers and low productivity
EU average), the quality of human capital has improved not proportionally. The region has actually experienced a reduction in post-compulsory school and university attendance,
Human capital needs to be upgraded so as to compete with the rest of Spain and the EU
Human capital and labour market ï Link training programmes more effectively with sectors in order to improve firm productivity and
relatively backward economy was the outflow of human capital to Spanish growth poles, especially to
The rapid growth in the real estate component of Gross Capital Formation during 2000 to 2005 reinforces this notion of fragility as the collapse of those economies dependent on property price
knowledge-based global economy with specific reference to human capital; its capacity for research and development; and soft infrastructure issues such as governance
creation and innovative growth of SMES are human capital, R&d and institutional capability Appropriate framework conditions ensure their availability and effective use.
Human Capital and the Labour market It is recognised now well that the set of technical, cognitive, facilitative and operational skills
The higher the level of human capital the greater is the return for both the firm (in terms of
of the literature on the subject of human capital. The importance attached to education provision and
also argued that higher levels of human capital help to generate new, high impact firms and it is this
Capital and the Labour Market Research and Development Institutions Framework and Governance Start -Ups/New
More recently it has been noted that human capital also plays a key role in promoting or affecting
The formation of human capital in this context is a function of both formal skills development and experiential forms of learning by
such as social capital and networks vital to both the creation and growth of firms in regions dominated by a high concentration
As more closely discussed in the thematic chapter on human capital, there are four labour market-related factors most critical to entrepreneurship in all its forms:(
or increasing knowledge flows in the region through human capital development, R&d, innovation and new business creation,
i) human capital and labour market issues affecting entrepreneurship and SME development ii) the contribution of research organisations to entrepreneurship and SME development;
i) human capital and the labour market; ii) contribution of research organisations; iii entrepreneurship and new start ups;
People and human capital Andalusia is populated the most region of Spain with 8. 4 million of inhabitants,
HUMAN CAPITAL AND THE LABOUR MARKET Introduction Human capital development and labour market dynamics play a key role in a knowledge-based
global economy. Yet, one of the greatest challenges in regional economic development is developing a coherent set of policies and programmes that link a region†s complex educational and training
This chapter describes the state-of-the-art in academic research on human capital, with a particular focus on the labour market characteristics of successful regional innovation systems.
debates about human capital generally, then turning to the debates about labour market preparation for entrepreneurship.
Role of human capital in the knowledge economy: Debates in the literature Higher levels of human capital create returns not only in terms of worker productivity but also of
higher wages (Becker, 1965. With the advent of the knowledge economy, the overall premium to
bid up for those workers who possess high levels of human capital while, due to falling demand
Role of human capital in entrepreneurship and innovation Although research has confirmed long the importance of human capital to business productivity
less is known about the role of human capital in fostering entrepreneurship. From the few studies that
exist, it is clear that successful entrepreneurship stems from a relatively broad conception of human
Not surprisingly, then, investment by firms in their employees†human capital has been shown to encourage innovation and entrepreneurship (Sevilier, 2006
Human capital that combines education and experience gives employees the adaptiveness so key to entrepreneurship (Wright, Hmieleski, Siegel and Ensley, 2007.
Ministries involved in human capital development in Andalusia: The Ministry of Education; the Ministry of Employment;
human capital indicates, RETA is suited particularly well for this role because of the breadth of its
In the area of human capital and the labour market, the most important contribution RETA can
about human capital development related to entrepreneurship. In particular it can play a pivotal role by helping to link vocational training to the many other efforts.
training programs exist, leading to a human capital deficit in this area. Certificate programs in the U s.,Ireland, Germany, the U k,
Entrepreneur Human Capital Inputs and Small Business Longevity. The Review of Economics and Statistics, 72,4: 551-559
Human Capital. New york: Columbia University Press Carnoy, M. 1994. Faded Dreams: the Politics and Economics of Race in America.
From Human Capital to Social Capital: A Longitudinal Study of Technology-Based Academic Entrepreneurs Entrepreneurship:
Human Capital Investment, Entrepreneurship and New Firm Creation. Unpublished paper Shrader, R c. & Siegel, D. 2007.
Assessing the Relationship between Human Capital and Firm Performance: Evidence From Technology-Based New Ventures.
The role of human capital in technological entrepreneurship. Entrepreneurship Theory & Practice 31,6: 900-910
and the importance of building relationships and social capital between key actors and institutions The success of this approach depends on strengthening the interfaces between key actors in the
human capital working in the firms by providing them with technically trained university students; it could provide students with more real life work experience as part of their formal education;
Social Capital, Innovation and Regional Development. Nowy Sacz: Wyzsza Szkola Biznesu†National-Louis University Laurent, Julia, Inmaculada Perianez Forte,
Invest more in human capital through better education and skills The recent global crisis has
relatively low levels of human capital in the region. The analysis suggests that there is an urgent need
utilise the growing pool of idle human capital in the medium to long term Secondly, the level of local human capital,
whether or not in employment, needs to be upgraded Despite the recent catch up effect driven by higher levels of business activity (e g. construction and
Human capital needs upgrading so as to compete with the rest of Spain, the EU and further afield
bureaucracy involved, start-up capital is low, and record-keeping, accounting and taxation are straightforward. By contrast, setting-up a legal entity is a more demanding affair,
levels of human capital relatively low compared with elsewhere in Spain; and iii) the traditional
Average capital investment cost â 3. 7 million â 1. 5 to â 22 m NA
particularly of capital and labour, from the more productive and internationally competitive sectors of the economy.
i) human capital and labour market; ii) research organisations; iii) entrepreneurship and start-ups; iv) SME development.
Human capital and labour market Three key issues have emerged in the area of human capital and labour market:
i) today†s knowledge-based economy put a premium on education; as a result, the regional government should
greater pool of human capital. But an exclusive focus on such a strategy could be at odds with the
Greater levels of coordination among agencies with a view to connecting human capital development with technological change and management capabilities could be a significant
Human capital and labour market ï Link training programmes more effectively with sectors in order to improve firm productivity and
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