and, as well, are a breeding ground for entrepreneurship and new business ideas However, in the new globalised business scenario, European small organisations are not
Shortage of knowledge, skill, entrepreneurship The lack of suitable technical and managerial staff with sufficient knowledge and
Shortage of knowledge, skill, entrepreneurship Actions: Creation of local â€oecompetence centers†on e-business and on the local
ï€'fosters the private entrepreneurship on the sector of production of software components and services
education and training could help to develop a local entrepreneurship, which could go beyond the technical support, localization and the development of small local solutions
or the Team Academy-the Entrepreneurship Centre of Excellence of JAMK University of Applied sciences in Jyvã¤skylã¤,Finland, where students
entrepreneurship and incubation programmes and new training modules at venues such as interdisciplinary centres, science parks, academic spin-offs, incubators (Etzkowitz, 2008
individual and institutional innovation and entrepreneurship initiate and reinforce each other o The †Innovation Organizer†is defined as a person that typically occupies a key
no interest in entrepreneurship, but in firm-formation as useful source for developing technology needed to advance basic research goals
high-tech entrepreneurship, which is virtually always a collective phenomenon. A new high-tech firm typically takes off with the support of persons with technical and
However, in the US a strong ideology of individual entrepreneurship usually suppresses the contributions of collaborators and pushes a single individual to
entrepreneurship is accepted openly, as individuals are inhibited culturally from attempting an entrepreneurial act unless backed up by a group
School of Entrepreneurship as a joint initiative of Stockholm University, Royal Institute of technology (KTH), and more recently also including the Royal Art
individual innovation efforts that come together in a form of â€oepublic†entrepreneurship go well beyond firm formation and provide the energy and focus for a variety of institution
entrepreneurship activities. When a university establishes a liaison or technology transfer office, it soon realizes that a much broader range of services and support
state governments that aim to promote technology and high-growth entrepreneurship through public and private partnerships, stimulate growth in a designated region and the development
-tech entrepreneurship and local capacity-building through better use of local capital resources, increased local control and greater equity (Blakely, 1989.
entrepreneurship within the larger socioeconomic context, especially research, education labour market and development policies Secondly, we also need to understand more about the growth of the spaces over time
Alvarez, S. A. and Busenitz, L. W. 2001), â€oethe entrepreneurship of resource-based theory†Journal of Management, Vol. 27 No. 6, pp. 755-75
Entrepreneurship, Blackwell, Oxford, pp. 26-44 Dobbs, M. and Hamilton, R. T. 2007), â€oesmall business growth:
connectionsâ€, Entrepreneurship Theory and Practice, Vol. 19 No. 1, pp. 71-84 Edquist, C. 1997), â€oesystems of innovation approaches †their emergence and characteristicsâ€, in
Entrepreneurship & Regional Development, Vol. 12 No. 3, pp. 245-66 Freel, M. S. 2005), â€oepatterns of innovation and skills in small firmsâ€, Technovation, Vol. 25 No. 2
functional patternsâ€, Entrepreneurship & Regional Development, Vol. 10 No. 4, pp. 297-312 Julien, P-A.,Raymond, L.,Jacob, R. and Ramangalahy, C. 1999), â€oetypes of technological
Entrepreneurship & Regional Development, Vol. 11 No. 4, pp. 281-300 Kirzner, I. M. 1997), â€oeentrepreneurial discovery and the competitive market process:
growth and competitiveness of entrepreneurial firmsâ€, Entrepreneurship & Regional Development, Vol. 15 No. 1, pp. 1-26
Entrepreneurship Theory & Practice, Vol. 33 No. 1, pp. 105-23 Sternberg, R. and Arndt, O. 2001), â€oethe firm or the region:
assistant in SME management (2001-2003) and in entrepreneurship and local economic development (2003-2005),
and lecturer in entrepreneurship (2005-2009) at the Department of Business and Management, University of Kuopio, Finland,
entrepreneurship at the Department of health Policy and Management, University of Kuopio Finland (1. 1. 2010 Department of health and Social Management, University of Eastern Finland
Finland, and a professor of entrepreneurship and regional development at the Department of Business and Management, University of Kuopio, Finland (2003-2009) and from 2009 a professor
of entrepreneurship and regional development at the Department of health Policy and Management, University of Kuopio, Finland (1. 1. 2010 Department of health and Social
factors relating to new firms†birth and success, entrepreneurship and regional development. He has published in several international journals such as International Entrepreneurship and
Management Journal, International Journal of Entrepreneurial Behaviour and Research, Small Business Economics, Journal of Small Business and Enterprise Development, Entrepreneurship
and Regional Development, Family business Review, Finnish Journal of Economics, and Academy of Entrepreneurship/International Journal of Entrepreneurship.
Prior to starting work at the University, he worked in various organizations in both public and private sectors in Finland.
World Journal of Entrepreneurship, Management and Sustainable Development 11:1, 48-63 Abstract Full Text PDF
Journal of Innovation and Entrepreneurship 2, 16 Crossref 22. Fulya Sarvan, GÃ zde GÃ l Baå er, Can Deniz KÃ ksal, Eren Durmuå, Onur Dirlik, Murat Atalay, Fulya Almaz
Journal of Small Business & Entrepreneurship 25,451-477 Crossref 29. Insu Cho, Heejun Park, Jeongil Choi. 2011.
-Promoting entrepreneurship & SME development -Promoting employability & adaptability -Flexicurity: a win-win for all
comparatively less conducive for entrepreneurship. More starkly, the EU is increasingly falling behind globally in building the digital infrastructure
In particular WIT has focused on providing such programmes in the areas of ICT, financial services and business information systems, lean manufacturing, e-Marketing, innovative technologies and entrepreneurship
business and entrepreneurship producing industry ready graduates and new innovation models that drive the economic development of the Region.
Commercialisation, entrepreneurship and technology transfer support (with an emphasis on building successful spin out and spin-in companies
Regional competitiveness is not simply resulting from a stable macroeconomic framework or entrepreneurship on the micro-level.
promoting and developing entrepreneurship in the Region. CEDRE provides a framework and environment for entrepreneurs, researchers,
The overall aim of CEDRE is to make a contribution to the development of entrepreneurship education and research.
creating a framework for the growth of entrepreneurship and examining the impact of entrepreneurship education on entrepreneurial activity.
Because of the importance, within the EU of regional development, investigations into such thematic research areas have received extensive funding from the EU via FP6 (Regions of Knowledge), FP7 (Regions of Knowledge),
Entrepreneurship in Europe June 2014 Â World Economic Forum 2014-All rights reserved No part of this publication may be reproduced or
3fostering Innovation-driven Entrepreneurship in Europe Contents Preface 3 Preface 5 Executive Summary 7 Section One:
-driven Entrepreneurship: Stand up Start up, Then Scale up 11 Survey Results: Assessing Conditions for Innovation -driven Entrepreneurship
across Europe 14 Stand up: Fostering an Entrepreneurial Mindset and Culture across the Continent 18 Start up:
Entrepreneurship 50 Section Five: A Look ahead †Opinion Pieces on the Future of Innovation 55 Conclusion
If the culture of entrepreneurship in Europe were as robust and ambitious as that of Israel?
Innovation-driven Entrepreneurship in Europe†project, examines what steps can be taken to fire up Europe†s competitiveness and
innovation-driven entrepreneurship, and through a new research project focused on open innovation ecosystems in Europe.
Illustration of Challenges and Approaches to Fostering Innovation-Driven Entrepreneurship Source: Project Team F Innovation capabilities in Europe influence
Entrepreneurship in the EU and beyond, European commission 2. Source: Global Entrepreneurship and the Successful Growth Strategies of Early-Stage Companies, World Economic Forum
A Life cycle Approach to Fostering Innovation-Driven Entrepreneurship Stand up, Start up, then Scale up A European Agenda to Foster Innovation-Driven Entrepreneurship
11 22 44 57 1 F Stand up, Start up, then Scale up A European Agenda to Foster Innovation Driven Entrepreneurship
5fostering Innovation-driven Entrepreneurship in Europe Executive Summary Produced as part of the World Economic Forum†s project
â€oefostering Innovation-Driven Entrepreneurship in Europe†this report addresses the challenge of lagging European performance with regard to the region†s innovation
capabilities and the conditions for scalable entrepreneurship As section one illustrates, this challenge includes persistent
innovation divides between European economies as well as between Europe overall and comparator economies such as the United states. The report suggests a forward-looking
agenda designed to contribute to Europe†s competitiveness and growth by encouraging a robust environment of
Fostering innovation-driven entrepreneurship in Europe requires a comprehensive view of the entire entrepreneurial life cycle. 1
practices have been identified to foster entrepreneurship in such a way as to encourage serial entrepreneurs to interact
entrepreneurship in Europe Section three summarises contributions from the highest levels of policy-making, including European heads of
entrepreneurship, and that a large number of relevant priorities are already on the policy agenda. These
-driven entrepreneurship in Europe, stakeholders need to focus, connect and partner Section four proposes a pan-European agenda for more
effectively promoting innovation-driven entrepreneurship designed to harness the potential of stronger private engagement with various private and public actors, and
affecting entrepreneurship initiatives across Europe. Three key elements of this agenda are relevant to the entire
identify and invest in momentum-building entrepreneurship initiatives are needed Connect: In order to overcome the challenge of fragmented
promoting innovation-driven entrepreneurship 6 Enhancing Europe†s Competitiveness Partner: Building on an enabling network, stakeholders must
entrepreneurship across Europe. While the emphasis is particularly on start-ups and small and medium-sized
for promoting innovation-driven entrepreneurship in Europe The Forum and its partners will continue to support this
7fostering Innovation-driven Entrepreneurship in Europe Section One: How Innovation Capabilities Infl uence the Competitiveness Divide
Entrepreneurship: Stand up Start up, Then Scale up 8 Enhancing Europe†s Competitiveness 9fostering Innovation-driven Entrepreneurship in Europe
Section Two: A Life cycle Approach to Fostering Innovation -driven Entrepreneurship: Stand up, Start up, Then Scale up Innovation is driven by many actors,
including companies academic institutions and individuals. Although some large corporations are strong innovators, small and medium
Entrepreneurship is defined as â€oethe pursuit of opportunities beyond the resources you currently control. †10
entrepreneurship In di vi du al fa ct or s Ec os ys te m
World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014 Figure 6: Overview of Demographic Information
World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014 Survey Results: Assessing Conditions for Innovation-driven
Entrepreneurship across Europe To better understand the motivations and external factors influencing European entrepreneurs and to test project
with experience or interest in entrepreneurship Conducted in February and March 2014, the online survey
%11fostering Innovation-driven Entrepreneurship in Europe After asking respondents about what influenced their motivation to engage in entrepreneurial activities (see page
promoting entrepreneurship, starting a business, and scaling a venture Overall across Europe, conditions were perceived most
World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014 When comparing the assessment of conditions between
World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014 Figure 9: Conditions per Country and Life cycle Phase based on Countries with More than 20 Responses
World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014 Southern Europe Central and Eastern europe, Turkey
13fostering Innovation-driven Entrepreneurship in Europe Stand up: Fostering an Entrepreneurial Mindset and Culture across the Continent
15fostering Innovation-driven Entrepreneurship in Europe It takes an entrepreneurial mindset to found a company
†A positive attitude towards entrepreneurship and risk as an enabler for selecting an entrepreneurial career with
or interest in entrepreneurship revealed that the top three motivators to â€oestand up†are: to work independently and
The Six Influencing Factors of Innovation-driven Entrepreneurship Source: Project Team Interestingly, although the least motivating factor indicated
-driven entrepreneurship, as well as those mechanisms that help protect against the employment and financial risks of
Challenges for promoting entrepreneurship Attitude: People are risk-averse and aim less for radical innovation
a roadblock for entrepreneurship, and seems to be more prevalent in Europe than in other regions. 14 Studies have
is crucial for successful entrepreneurship. Consider this Employees of the Finnish start-up Rovio had developed 51
entrepreneurship •Perceived risk •Personality type •Determination 1 Skills •Markets/business intelligence •Management skills
activity, it is the quality of entrepreneurship that determines whether a company will become a multinational some
Entrepreneurship schools and universities Possessing the skills to found and operate a business is an important complement to the attitude of risk
Entrepreneurship education is undergoing steady development in Europe, but there remains room for further expansion in primary, secondary and tertiary contexts
entrepreneurship education was one of the most meaningful forms of prior exposure to entrepreneurship for 54%of the
respondents. The European commission endorses this by 20 20 19 19 17 16 15 15 15 14 14 12 12 12 11 11 10 10 10 10
Entrepreneurship in the EU and Beyond, European commission stating: â€oeinvesting in entrepreneurship education is one of
the highest return investments Europe can make†Whether or not they go on to found businesses or social enterprises
entrepreneurship, and how much support they get along the way. One aspect of this is the attention paid by Europeans
exposure to entrepreneurship, entrepreneurial thinking and peer-level success stories is therefore key to transmitting
17fostering Innovation-driven Entrepreneurship in Europe Table 1: Practices in collaboratively promoting entrepreneurship and entrepreneurial careers, with examples
Source: Project Team Actors Leading initiatives to foster attitude, skills and cultural /social framework Leading initiatives to foster regulatory framework
and talent, promoting entrepreneurship by providing access to broad and dynamic networks and by influencing policy. 23
is Europe†s largest provider of entrepreneurship education programmes. It reached 3. 1 million students
The European Forum for Entrepreneurship Research EFER) has trained 472 professors in entrepreneurship organizes events and publishes regularly on
entrepreneurship since its founding in 1987.26 Large-scale event series to promote entrepreneurship Global Entrepreneurship Week, the world†s largest
campaign to promote entrepreneurship, inspires and connects potential future entrepreneurs. It has held approximately 35,000 events in 125 countries. 27
Bottom-up networks of entrepreneurs providing bottom-up policy support European Young Innovators Forum (EYIF) is building
innovation ecosystems in Europe by encouraging young Europeans to take more risks in innovation and
entrepreneurship, and encouraging governments businesses, society and individuals to support and reward such risk-taking through policy frameworks
and access to mentors, finance and markets. EYIF has rapidly become the leading foundation for youth
entrepreneurship ecosystems in Europe, with a focus on tech start-ups. 29 The European Digital Forum is a first-of-its kind think
Public Systematic entrepreneurship education throughout the curriculum, tailoring content to market needs Initiatives exist in a dozen countries on cooperation
competitions, certification of entrepreneurship skills the setting-up and running of student training firms and teacher training and support. 31
Comprehensive entrepreneurship programmes The Entrepreneurship and Innovation Programme under the European Competitiveness and Innovation Framework Programme (CIP) had a budget of â
2. 17 billion for the period 2007-2013. Achievements include numerous projects with universities and
entrepreneurship education, and the European SME Week with 1, 562 events across and beyond Europe in
19fostering Innovation-driven Entrepreneurship in Europe Figure 12: Overview of Start-up Phase Source: Project team, based on financing stage overview by OECD39
In the second, â€oestart up†phase of the entrepreneurship life cycle ecosystem factors play a crucial role.
21fostering Innovation-driven Entrepreneurship in Europe The sources of financing for European venture funds differ
23fostering Innovation-driven Entrepreneurship in Europe Table 2: Practices to Collaboratively Promote Access to Capital, with Examples
25fostering Innovation-driven Entrepreneurship in Europe When helping SMES in Europe, we should not lose sight of those entrepreneurs who
World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014 Innovation funnel Ecosystem influencing
survey on innovation-driven entrepreneurship had partnered with a large corporation or organization in a former venture
27fostering Innovation-driven Entrepreneurship in Europe Table 4: Challenges Guiding Entrepreneurs and Large Corporations in Partnerships
29fostering Innovation-driven Entrepreneurship in Europe Dimension Practice/example Developing culture and organization (continued Ensuring senior executive support for external collaborations
31fostering Innovation-driven Entrepreneurship in Europe Dimension Practice/example Developing collaboration and exploiting results Being adaptable to the needs of the partner,
33fostering Innovation-driven Entrepreneurship in Europe Section Three: Perspectives from Policy-makers A fresh view on successes and future challenges in fostering entrepreneurship
To gain a deeper insight into national and regional priorities, as well as the focus areas for policies relevant to innovation
-driven entrepreneurship, the World Economic Forum conducted interviews with a wide range of leading European policy
The role of innovation-driven entrepreneurship in the economy: Which role does driven innovation entrepreneurship play for your economy?
Could you estimate what proportion of SME employees in your country are working in innovation-driven SMES
A recent success in fostering entrepreneurship: Which recent success in improving conditions for innovation-driven entrepreneurship in your country would you like to highlight
Current and future challenges of high priority on the policy agenda: What are the key challenges
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: What should policy-makers be doing?
improving the environment for innovation-driven entrepreneurship In general, policy-makers highlighted the important role of entrepreneurship for the European economy.
Key activities on the policy agenda include steps to tailor education to the needs of entrepreneurial careers,
The role of innovation-driven entrepreneurship in your economy: â€oemore than 20 million SMES in Europe have a key
A recent success in fostering entrepreneurship: â€oesupporting business scale up is a big challenge in many smaller
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: â€oewithin the new 7-year
-driven entrepreneurship in start-ups and established enterprises. Funding will be channelled to innovation projects supported by a convincing business plan.
35fostering Innovation-driven Entrepreneurship in Europe Toomas Hendrik Ilves President of Estonia The role of innovation-driven entrepreneurship in your economy:
â€oeinnovation-driven entrepreneurship is seen as a key driver of growth for the years to come.
The recently adopted †Estonian Entrepreneurship Growth Strategy 2020†marks innovative enterprises as a key target group.
In our terminology, they are called †growth clients††emerging and fast-growing ambitious enterprises. For emerging enterprises it means that by the end of the second year of operation
A recent success in fostering entrepreneurship: â€oeenterprise Estonia has established a network of salaried professional export advisers residing in major target markets,
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe †Enterprise Development Programme:
†Entrepreneurship promotion: Promoting entrepreneurship as a career choice and raising general awareness on entrepreneurship
†Start-up Estonia programme: Promoting the creation and growth of enterprises with global ambition †Venture funds:
Including a fund of funds of â 120 million for business angel co-investment, venture capital and
The role of innovation-driven entrepreneurship in your economy: â€oeinnovation-driven entrepreneurship is one of the
key focus areas in the Finnish government†s economic policy. Most of the economic policy measures that the government
A recent success in fostering entrepreneurship: â€oethe Vigo accelerator programme for innovative, high-growth companies has attracted a great deal of direct foreign investment in Finnish start-ups.
harness the potential of Finland†s high R&d input (3. 55%of GDP in 2012) into successful entrepreneurship.
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: â€oethe overall policy is that
entrepreneurship. The goal is that Finland should have one of the best framework conditions for entrepreneurship and high
growth enterprises in the world. †Figure 21: Jyrki Katainen, Prime minister of Finland, delivering his speech at the project workshop during the World
37fostering Innovation-driven Entrepreneurship in Europe Neelie Kroes Vice-president and Commissioner for the Digital Agenda, European commission
The role of innovation-driven entrepreneurship in your economy: â€oeit†s quite simple †it†s about growing the economy
A recent success in fostering entrepreneurship: â€oei†m not sure there are any government-led major successes. The
atmosphere of debate around entrepreneurship. That is a long, thankless task, but it†s important. â€
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: â€oethe Startup Manifesto by
The role of innovation-driven entrepreneurship in your economy: â€oeentrepreneurs play a key role in securing
In recent years innovation-driven entrepreneurship has become an important part of Danish policy. In December 2012 the Danish government published a national innovation strategy, †Denmark †A
A recent success in fostering entrepreneurship: â€oein 2009, the Danish Foundation for Entrepreneurship launched a
national strategy for entrepreneurship in education and training. A result of this is an increase in entrepreneurship courses
embedded in the education system from 8%in 2009-2010 to 15%in 2012-2013. Impact measurements from the
foundation show a high, positive view in students†intentions and attitude towards entrepreneurship. †Current and future challenges of high priority on the policy agenda:
â€oeas in many other countries, innovative Danish entrepreneurs can find it difficult to finance their business projects.
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: â€oethe Danish Ministry of
39fostering Innovation-driven Entrepreneurship in Europe Antã nio Pires de Lima Minister of Economy of Portugal
The role of innovation-driven entrepreneurship in your economy: â€oeinnovation-driven entrepreneurship played a central role during the recent period of strong economic adjustment, where, leveraged by its effects, the Portuguese
economy suffered structural changes: becoming a highly exporting, increasingly innovative and entrepreneurial economy Our exports have grown significantly (at the fastest pace in EU15,
and entrepreneurship is the driving force behind employment and job creation in Portugal. †A recent success in fostering entrepreneurship:
â€oeportugal has been referenced as a country with complete incentive support schemes for innovation and entrepreneurship by providing a well-balanced mix of financial (direct and indirect
and nonfinancial measures specifically tailored to cover every phase of the innovation value chain. More recently, the
entrepreneurship, and we must act decisively in nurturing the best investment environment possible Against this background, the government recently launched its Industrial Development Strategy for Growth and
Key activities of an agenda to foster innovation-driven entrepreneurship in Europe: â€oerecognizing that the
importance of the innovation-driven entrepreneurship phenomena is transnational, Portugal, Spain and Italy, with the
and Entrepreneurship, are closely collaborating to jointly develop an economic and industrial policy agenda for the South of Europe.
The adequate promotion of a consistent innovation-driven entrepreneurship policy requires us to focus on five defining
The role of innovation-driven entrepreneurship in your economy: â€oeinnovation-driven entrepreneurs introduce new products, new services and new methods, thereby making a significant contribution to the Dutch economy.
nascent entrepreneurship according to the Global Entrepreneurship Monitor. †A recent success in fostering entrepreneurship: â€oerecent successes by The netherlands in improving the conditions for
innovation-driven entrepreneurship are the top sector approach, valorization grants and an action plan for skilled technical
workers. The top sector approach focuses on nine sectors that are highly competitive in the global market.
ambitious growth strategy, the ambitious entrepreneurship programme has been developed. The programme tries to identify and reduce barriers to growth
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: â€oethe Dutch government is
Valorization and entrepreneurship education will be provided fully at knowledge institutions Entrepreneurship education will focus more on entrepreneurial skills
†Access to The netherlands: High potentials and innovation-driven entrepreneurs are expected to be able to obtain a
Diminishing the barriers to entrepreneurship and growth Our long-term aim is to develop a functional ecosystem for ambitious entrepreneurs, with good opportunities for high
41fostering Innovation-driven Entrepreneurship in Europe Bohuslav Sobotka Prime minister of the Czech republic The role of innovation-driven entrepreneurship in your economy:
â€oeinnovation-driven entrepreneurship is one of the most important drivers for sustainable development of the economy in the Czech republic.
This is reflected in several strategic initiatives (esp. the National Reform Programme, National Innovation Strategy and International Competitiveness
A recent success in fostering entrepreneurship: â€oethe most important success can be seen in the rising awareness
in the society, including the media, of the relevance of entrepreneurship which should motivate more individuals to start
A recent success especially for innovation-driven entrepreneurship can be seen in the enlargement of support activities by the government with programs such as the Czechecosystem that offers coaching schemes for high
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: â€oekey activities in relation
to innovation-driven entrepreneurship can be seen mainly in a better motivation and support of a) the foundation of
The role of innovation-driven entrepreneurship in the economy: â€oeinnovation-driven businesses of all sizes display
A recent success in fostering entrepreneurship: â€oein 2011,27%of small business innovators considered the non
Key activities on an agenda to foster innovation-driven entrepreneurship in Europe: â€oethe UK government†s Small
43fostering Innovation-driven Entrepreneurship in Europe Section Four: A European Agenda to Foster Innovation -driven Entrepreneurship
Focus Connect Partner 44 Enhancing Europe†s Competitiveness 45fostering Innovation-driven Entrepreneurship in Europe Section Four:
A European Agenda to Foster Innovation -driven Entrepreneurship The need for a coherent European agenda
focus, connect and partner A comprehensive approach to fostering innovation-driven entrepreneurship in Europe requires addressing the key
challenges across all three of the stand-up, start-up and scale up phases. Building on input from policy-makers
entrepreneurship initiatives †Connect: Developing a transparent, inclusive Europe-wide database and network of initiatives for
entrepreneurship †Partner: Developing entrepreneurship initiatives that achieve both scale and momentum by connecting stakeholders better
Together, focusing stakeholders on what works at scale connecting actors and developing effective partnership approaches can lead to a more integrated innovation
entrepreneurship initiatives Working towards the goal of a more integrated innovation ecosystem in Europe requires an active discussion on
entrepreneurship initiatives in the region. The following criteria can help gauge the potential of a proposed
network of initiatives for entrepreneurship Establishing a visible, inclusive network of public and private initiatives is considered to be somewhat important or very
entrepreneurship initiatives could lower this kind of transaction cost and improve transparency Figure 23: Agenda to Foster Innovation-driven Entrepreneurship:
Connect and Partner; n=805 Source: World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014
Partner: Potential to improve collaboration between entrepreneurs, universities, large companies and academic institutions within your country
entrepreneurship across Europe %59 29 7 12 1 +89 No opinion Very low potential Very high potential
Developing entrepreneurship initiatives that achieve both scale and momentum by connecting stakeholders better The ultimate goal of this report is integrated a more
entrepreneurship. A key opportunity to create awareness of opportunities exists in entrepreneurship schools and universities.
Strengthening this connection has an effect for both the next generation labour force and the education system Teachers and professors can be trained
as entrepreneurship developers to inspire and encourage potential entrepreneurs to take action. Entrepreneurship can be shown as the ability to navigate
increased complexity, overcome career barriers, and more closely leverage personal strengths. Moreover, educational institutes provide a good opportunity
that promotes entrepreneurship Partner to encourage active engagement in start-ups as employees and as founders.
support entrepreneurship. Co-investment models, both those enabling the state 47fostering Innovation-driven Entrepreneurship in Europe
to join hands with private actors to top up investments, and those making it possible for private actors to join forces
to support entrepreneurship, can have multiplier effects. Investments in pan -European fund structures support the
Personally, to Foster Entrepreneurship I Would be Willing to Engage in the Following Action This
World Economic Forum European Survey on Fostering Innovation-driven Entrepreneurship 2014 27 28 43 28
least one action-driven entrepreneurship class during their education Global Shapers Hub, Geneva Quotes from Global Shapers on the European Agenda
49fostering Innovation-driven Entrepreneurship in Europe Innovation-driven entrepreneurship in Europe depends in large part on how well
we can prepare this generation of digital natives to turn their ideas into action. It
Entrepreneurship is not just a mindset, it is a set of important skills and competences that can be learned.
in Europe to foster entrepreneurship Ann Mettler, Executive director, Lisbon Council We need to think in terms of innovation
51fostering Innovation-driven Entrepreneurship in Europe Section Five: A Look ahead †Opinion Pieces on the Future
as leading practice in innovation and entrepreneurship and consider the forces that might shape the future of
Entrepreneurship Change the Potential and Impact of Government Resources Bruno Lanvin, Executive director, European Competitiveness Initiative, INSEAD
today and tomorrow) in terms of entrepreneurship innovation and leadership skills, but also of dynamic cross-sectoral re-skilling?
entrepreneurship. Building a truly integrated single European digital market relying on a first-class shared broadband infrastructure would offer a powerful
53fostering Innovation-driven Entrepreneurship in Europe The transition to this scenario has occurred in two phases.
55fostering Innovation-driven Entrepreneurship in Europe Conclusion Over the course of 2013 and 2014, the Forum†s â€oefostering
Innovation-driven Entrepreneurship in Europe†project has drawn on survey data, structured interviews, workshops and
1. Fostering innovation-driven entrepreneurship in Europe requires a comprehensive view of the entire entrepreneurial life cycle, comprising â€oestand up, â€
entrepreneurship in Europe that can and should be harnessed As the examples of leading practices, policy-maker
innovation-driven entrepreneurship in Europe stakeholders need to focus, connect and partner creating greater transparency and increasing
supporting environment for entrepreneurship and innovation today is not enough. Major changes in what is regarded
partner on innovation-driven entrepreneurship, the World Economic Forum will take this research further in the form
2. It is important to note that both entrepreneurship and innovation are very broad concepts with many definitions.
4. United nations Economic commission for europe (2012), Fostering innovative entrepreneurship †Challenges and Policy Options 5. http://ec. europa. eu/enterprise/policies/sme/facts-figures-analysis
-up-skills, GEM Consortium (2013), Global Entrepreneurship Monitor 15. Diedrichs, E. 2013), Do SMES lose their appetite for innovation during the economic crisis?
2012), Ambitious Entrepreneurship †A Review of the academic literature and new directions for public policy, Report
European commission (2013), Entrepreneurship 2020 Action Plan, Reigniting the entrepreneurial spirit in Europe 19. European commission (2012), Entrepreneurship in the EU and beyond, Flash Barometer 354, http://ec. europa. eu/public opinion
/flash/fl 354 en. pdf 20. http://www. mentorsme. co. uk /21. http://enternships. com /22. https://www. founders4schools. org. uk
Eurydice (2012), Entrepreneurship Education at School in Europe 57fostering Innovation-driven Entrepreneurship in Europe 32. http://ec. europa. eu/cip/eip
/33. European commission (2011), Business Dynamics: Start-ups, Business Transfers and Bankruptcy, p. 57 34. Eurostat statistics on EU companies by size segment
OECD (2013), Entrepreneurship at a Glance 36. Office for statistics Berlin (2012; KKR (2013), Digitalization in Europe †Unlocking Europe†s Entrepreneurial Potential
Entrepreneurship in the EU and beyond 66. Foster, G. et al. 2011), Global Entrepreneurship and the Successful Growth Strategies of Early-Stage Companies, World Economic
Forum 67. Johnston, S b. 2011), Where Good Ideas Come From, Riverhead Trade 68. WIPO (2013), World Intellectual Property Indicators-2013 Edition
In recent years, many influential publications on the subject of entrepreneurship have been published The World Economic Forum has been addressing entrepreneurial ecosystems in several interactive formats and reports
These include the reports Global Entrepreneurship and Successful Growth Strategies of Early-Stage Companies (2011) and
opportunities and measures to improve entrepreneurship education. Work on specific regions includes Accelerating Entrepreneurship in the Arab World,
which highlights 10 recommendations to promote vibrant entrepreneurial ecosystems across the region At the European level, the Start-up Manifesto of the Leaders Club of European Entrepreneurs, created by the Vice
†European commission (2012), Entrepreneurship in the EU and Beyond, available at: http://ec. europa. eu/public opinion
†European commission (2013), Entrepreneurship 2020 Action Plan, Reigniting the entrepreneurial spirit in Europe available at:
†Foundation for Entrepreneurship Young Enterprise Denmark (2013), Impact of Entrepreneurship Education in Denmark â€
59fostering Innovation-driven Entrepreneurship in Europe Acknowledgements Adviser and Knowledge Partner: A t. Kearney Kai Engel, Partner and MD, Germany, Lead Partner for
Innovation-driven Entrepreneurship by the Global Shapers Hubs in Brussels, DÃ sseldorf, Geneva, Genoa Lisbon, London, Madrid, Torino, Vilnius and Zurich, as
Annette Beck, Senior Director, Entrepreneurship, Ewing Marion Kauffman Foundation, USA Jean-Claude Burgelman, Head, Unit C2, DG Research and
61fostering Innovation-driven Entrepreneurship in Europe Jeroen Van der veer, Executive Member of the Governing Board, European Institute of Innovation and Technology
Global Agenda Council on Fostering Entrepreneurship and Global Agenda Council on Europe Global Agenda Council on Fostering Entrepreneurship
Virginia Cha, Chief, Research and Innovation, Institute of Systems science, National University of Singapore Singapore Hongbo Chen, Vice-Dean, Tuspark Research Institute for
Entrepreneurship, Stanford Graduate school of Business USA Habib Haddad, Chief executive officer, Wamda, United Arab Emirates Jian Han, Associate professor of Management;
Innovation and Entrepreneurship, USA Daniel Isenberg, Professor of Entrepreneurship Practice Babson Executive Education, Babson College, USA
Guriqbal Singh Jaiya, Director-Adviser, Innovation and Technology Sector, World Intellectual Property Organization WIPO), Geneva
and Technology Entrepreneurship Development Board Department of Science and Technology, Government of India Allon Raiz, Chief executive officer, Raizcorp, South africa
Thom Ruhe, Vice-president, Entrepreneurship, Ewing Marion Kauffman Foundation, USA Phanindra Sama, Chief executive officer, Pilani Soft Labs
63fostering Innovation-driven Entrepreneurship in Europe Project Team The project team â€oeenhancing European Competitiveness Fostering Innovation-driven Entrepreneurship in
Europe† includes the following individuals at the World Economic Forum (in alphabetical order Nicholas Davis, Director, Head of Europe
Entrepreneurship in Europe, and Management consultant A t. Â Kearney Editing Ann Brady, Head of Editing, World Economic Forum
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