Synopsis: Entrepreneurship: Investment:

Investments/Costs The costs of the introduction of e-business practices for a single small organisation

the initial investment and the rising cost of maintenance services may reduce their willingness to undertake the necessary investments.

In addition, SMES have to be 5 See for example ENSR Enterprise Survey 1999 as used in The European Observatory for SMES †Sixth

the investments in their core business 2. THE DIGITAL SYSTEMS EVOLUTION AND THE ADOPTION PHASES

Investment/Costs Actions: software sharing, common development of open source software open and distributed common infrastructure

support for venture capital, investment forum Stafford Beer, Platform for Change,, John Wiley & Sons Ltd, 1995

control, investment and provision of public venture capital, which is a traditional task for the Industry sphere (e g.

JTIS), a form of long-term public-private partnerships that combine private sector investment and/or national

overlapping through network centralisation, complementary investments for information dissemination that may lead to economic benefits and easier access to information flows within the network by governments and firms

leverage location-specific knowledge assets to induce new investment and create new value 17 o Creation of new university resources to support the development of new industries or

External investments as key inputs for regional development come in response to improved infrastructure, fiscal incentives and programmes provided by federal or

investments by a firm, returns to which often require quite a long time to realize. In other words, the decision by the entrepreneur to engage in innovation is rather a

long-term investment to assure the continuing success and future survival of the firm rather than a short-term answer to the present-day problems faced by the firm

Whilst public investment might be needed to stimulate economic growth, the political will to tear down the remaining barriers to the European Single Market would also have a positive

investments in knowledge-generating assets will translate into important drivers for future productivity growth †those drivers being a common focus on education, information and

to earn a return on investment More generally, there is a need for more and better coordination among the various policies

company information asset for investments and support for strategic decisions Nevertheless, as usual with new concepts, also Big data ask for a clarification of

•Investments: The IT and the business executives must share decisions on the budget for the management and innovation of information assets

Management Organization Investments in human resources with a mix of new analytical skills and business Talent

In 2011, GE announced $1 billion investment to build software and expertise on Big data analytics, launching a global software center in San ramon, Cali

and investments, in particular, on human resources to be focused on data scientist capabilities. Furthermore, talent management and employees reten

importance of a clear and shared Big data strategy together with investments and focus on human resources for capabilities,

•Require investment in infrastructure to ensure the effectiveness of the solution 3. 3 Digital Management Solutions 59

18 months payback period of the investment 31 POINT OF ATTENTION: Mobile services initiatives applied to supply

Besides technology issues, the investment in this solution has covered also a set of training activities by the staff.

while maximizing IT investments 1. Now with the concept of Consumerization, the pattern of using technologies and

and investment parameters 14 5. To stay up-to date with changing and new technologies: by staying aware of

but it requires investment in the infrastructure that supports it. The key concerns with this strategy include

The business value and the Return on Investment (ROI) of a consumerization of IT solution should be investigated,

the financial impact and allow tracking of benefits and investments As for technology considerations, common infrastructure-related issues that

result, many investments in the field of IS or IT have deployed and being implemented cross organizations that are located in different countries and world

numbers, email and web addresses, etc. and savvy investments on digital media in the outer context of organizations;

for compliance and greater accountability of IT investments and use, as well as to a strategy need for superior business results for all stakeholders 3

resources on behalf of the stakeholders who expect a return from their investment The people who are responsible about this stewardship will look to the manage

investments that the above perceived drawbacks may prevent a company to obtain In particular, implementing a good IT governance is the basis for an effective

systems that do not provide the required results and adequate return on investment For this reason, the search for Business/IT Alignment attempts usually concen

-trated on improving the business value that is a result of the IT investments Since that the goal of IT governance is to achieve a better alignment between

1. IT steering committee (IT investment evaluation/prioritisation at executive/senior management level 2. Portfolio management (incl. business cases, information economics, ROI

-formation presents gigantic, significant and risky investments in IT. That is due, in particular, to the exposure of business†s data and systems to external environment

they faced huge advertising investments. However these companies lacked a business model that could convert the number of users who visited their sites in

These costs originate from past investments and influence the decisions of both consumers and producers and include several components:

factors have led to a significant reduction in the profitability of investments in innovation, and since the innovation process involves higher costs and risks, the

of innovation is based on the transformation of inputs (investments in research and development) into outputs (new products and opportunities),

The investments necessary for research lab -oratories and the protection of intellectual property correspond to barriers to entry

example, technology investments, licenses, joint venture agreements and partici -pation in research consortiums. Even the commercialization of innovation and its

but the fact that there is no need for specific assets and investments on the merchant side may contribute to a rapid growth in adoption

$4 million investment from a fund by a coalition of large banks investing in financial services projects.

specialist, supported by the investments of some of the founders and CEOS of Google, Paypal, Verisign and Sun microsystems

and competition to attract investments and talents takes place. The EU Innovation Union Flagship emphasises the smart specialisation of regions as key to future competitiveness

The economic development of the South East requires investment into its research and development infrastructure, the creation of human capital and the enticement of genius and expertise into the South East Region.

Strategies are required to drive investment in indigenous enterprise, attracting of relevant foreign direct investment (FDI), the commercialisation of research and the professionalising of manufacturing and services across a range of sectors.

The challenge to support the growth, development and sustainability of the South East is to mesh these activities together

and an investment plan to attract the best scientists, engineers, professionals and entrepreneurs to the Region

Further strengthening and investment in the research and innovation infrastructure and capacity within the South East Region is critical to its future.

which recently announced a â 7 million investment by international venture capital firms and the creation of an additional 100 jobs.

Investments to support SME engagement and networks are a priority of the Arclabs open innovation model.

Three parallel processes that must be adopted to make the Region attractive to FDI investment are;(

which requires investment. In addition to its cohort of more than 7300 full time students, WIT has registered over 1, 400 part-time undergraduate students and 316 (full-time) and 403 (part-time) postgraduate students on masters and Phd level programmes.

and implementation of an integrated investment strategy for the South East Region capable of building an open innovation region.

Investment is required now to scale the model across the Region accelerating its economic impact Appendix A:

including Feedhenry who recently announced that it was creating an additional 100 jobs as a result of a â 7million investment by international venture capitalists.

to attract inward investment to support the development of new services and thereby create employment.

Continued investment within the Region in human capital development in the Nursing and Health care professions through education and research will be paramount to ensuring the development and clustering of technology related service industries in the South East

The recent investment that the European commission has made in funding a series of workshops entitled Week of Innovative Regions in Europe 2013 (WIRE 2013) is testament to the importance the Commission is placing on regions.

The issue with considering the South East as a Follower-high is that it could be overlooked as a region that needs further investment

the highest return investments Europe can make†Whether or not they go on to found businesses or social enterprises

Matthias Ummenhofer, Head, Venture capital, European Investment Fund Figure 13: New Venture Funds Raised in Europe by Investors,

business angel investments only amounts to approximately 10%of the overall market estimate of â 5. 1 billion for 2012.38

-typical angel investments (up to around â 500,000) but smaller than the deal size typical of venture capital funds

regulatory burden. 39 This drop in private investment has seen the role of government agencies in venture capital

angel investments; 140 events were held in 34 countries in November 2013.44 Using crowdfunding. In a large number of emerging

joining private investments Co-investment funds provide 1) the opportunity to invest in larger companies and 2) increased potential to diversify

investment amounts. Take the EBAN/EIF collaboration between business angels and the EIF, for example. In

prior to the launch of a co-investment initiative; afterwards the average investment became â 11 million.

In the United Kingdom, the Scottish Co-Investment Fund (SCF) is a £72 million equity investment fund.

In venture capital, for example, the fund invests £0. 5-2. 0 million in deals of £2

-10 million. The fund operates at minimal cost on a fully commercial basis Offering combined support services and financing

investment, usually taking a minority share in the start-up start-ups profit from both events and mentoring

an investment of â 1 by Finland†s funding agency Tekes produces â 21 of turnover annually;

investment/independence Ideas/concepts, possibilities to test ideas quickly and outside complex structures access to technology, rapid prototyping

Miles Kirby, Managing director of Qualcomm Ventures, responsible for investments in Western and Eastern Europe â€oeto systematically foster collaboration between large companies and entrepreneurs

services from startups), strategic investments and eventually acquisition. 56 â€oefinding the right entry point and the right champion is crucial:

than investment and scalability potential for the innovations being developed by them. In this new phase in our venturing

substantial investments from other sources Under Horizon 2020, about â 140 million is expected to be allocated until 2020 for â€oecluster facilitated projects for new

Including a fund of funds of â 120 million for business angel co-investment, venture capital and

and Latvia) has a volume of â 200 million for later stage and bigger investments

companies has attracted a great deal of direct foreign investment in Finnish start-ups. For instance, the flagship enterprise Supercell received a â 1 billion investment from Japanese investors.

This proves that the quality of deal flow has improved Several Vigo teams have raised also their own small-scale funds. â€

including loans, guarantees and venture investments, to help tackle the issue. Furthermore, the Danish regions are

The new Tax Investment Law will introduce radical policy measures, such as 0%corporate tax rate for start-ups in the first three years of operation and a

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

2013, it supported over £650 million of total lending and investment. †Current and future challenges of high priority on the policy agenda:

new models of co-investment by complementary resources in order to improve capital supply. European states have shown massive engagement to

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,

Investments in pan -European fund structures support the above-mentioned development towards a European single market for risk finance

individuals and corporations would become investment relationships in which individuals dedicate capacity and skills in a corporate ecosystem.

Investment Fund, Luxembourg 61fostering Innovation-driven Entrepreneurship in Europe Jeroen Van der veer, Executive Member of the Governing

Druk Holding & Investment Randall Krantz, Strategy Adviser Bosnia and herzegovina MIT Center, School of economics and Business in Sarajevo

Board of Investment, Mauritius Manaesha Fowdar, Investment Executive, Competitiveness Khoudijah Maudarbocus-Boodoo, Director Ken Poonoosamy, Managing director

Joint Economic Council Raj Makoond, Director Mexico Center for Intellectual Capital and Competitiveness Erika Ruiz Manzur, Executive director

Public Authority for Investment Promotion and Export Development (ITHRAA Azzan Qassim Al-Busaidi, Director General

Investment Promotion Litsay Guerrero, Economic Affairs and Investor Services Manager Eduardo Porcarelli, Executive director  2014 World Economic Forum

-enhancing investment levels do not manage to pick up Investment and the recovery more broadly will also be

influenced by the fact that low inflation, or even deflation in key advanced economies remains a tangible risk that

a stagnation of consumption and investment rates In addition, in recent months, a strained geopolitical situation has emerged.

and productivity-enhancing investments are required These measures are not only important, as they have always been,

rates of return obtained by investments in an economy which in turn are the fundamental drivers of its growth

its return on investment, which is one of the key factors explaining an economy†s growth potential

on investment in physical capital and infrastructure, 2 and, more recently, to interest in other mechanisms

competitiveness and growth. 4 It influences investment decisions and the organization of production and plays

openness to trade and foreign investment; simple and transparent business regulation†is the primary lesson for

on trade, foreign investment, tourism, and attracting for -eign talent, and go global as far as they can

Investment in the provision of health services is thus critical for clear economic, as well as moral, considerations. 11

rules on foreign direct investment (FDI) †which limit foreign ownership†as well as on international trade.

resources to those entrepreneurial or investment projects with the highest expected rates of return rather than

Business investment is also critical to productivity Therefore economies require sophisticated financial markets that can make capital available for private-sector

investment from such sources as loans from a sound banking sector, well-regulated securities exchanges

In particular, it means sufficient investment in research and development (R&d), especially by the private sector; the presence of high-quality scientific

needed reforms and productive investments THE GLOBAL COMPETITIVENESS INDEX 2014†2015 RANKINGS Tables 3 through 7 provide the detailed rankings of this

Very high public and private investments in R&d (3rd), with very strong linkages between universities

Further investment in infrastructure (38th) would also be warranted, as transport infrastructure in particular is not yet up to

R&d investments (52nd) and weak university-industry collaborations (57th After falling in the rankings for several years

a high tax rate (134th), affects their investment capacity In addition, as already mentioned, the labor market remains very rigid (136th) and unable to make an efficient

investments in knowledge-generating activities, such as R&d (114th Asia and the Pacific The competitiveness landscape in the Asia and the

with investment rules, greatly limit competition. China is becoming more innovative (32nd), but it is not yet an

China to rebalance its economy away from investment and toward more consumption. Despite the persistence

of massive investments. Trends are largely positive, but now is not the time for China to be complacent.

entry, especially those affecting foreign investments Considerable challenges remain in other areas: first and foremost these relate to governance.

But for these types of investments to materialize the institutional framework needs to improve. There are

investments, a fall in exports and commodity prices, and tighter access to finance that, to a large extent, fueled

A lack of sufficient investments in growth-enhancing areas, such as infrastructure, skills development and innovation, coupled with insufficient and delayed

the necessary investments and by fully and efficiently implementing structural reforms has become not only important but also urgent if the region is to be able to

This difficulty†together with low innovation investment especially in the private sector (77th) †results in a poor

flow of financing toward productive investments will be crucial to allow the country to recover the ground lost

engaging in productive investments (see Boxâ 3). This approach is not only important but has become urgent

better public investment but also a decisive recognition on the part of Colombian firms of the need to innovate

by undertaking the right set of investments in areas such as R&d (84th) as well as on-the-job training schemes

investment to boost health and educational outcomes 38th on the health and primary education pillar. Raising

international trade and investment, which would trigger further efficiency gains in its domestic economy and

investments across all modes of infrastructure (128th establishing a regulatory framework that encourages competition to foster economic diversification, and

and enhanced smart investments in both advanced and emerging economies in order to accelerate robust economic growth, create productive jobs, and boost

investments across a vast array of areas However, stakeholders†actions†most notably those originating from the public and private sectors†are not

sufficiently engage in long-term and often risky investments in areas such as research and development, information and communication technologies, or employees†skills

this way, the positive spill over effects of their investments could result in higher societal gains

28 The Central Bank†s bailout of African Bank Investments on August 11,2014, is reflected not in the EOS data this year,

Gramlich, E. M. 1994. â€oeinfrastructure Investment: A Review Essay. †Journal of Economic Literature 32 (3:

of investment in an economy. As a result, most theories would predict the GCI to be positively related to an

had the same investment and population growth rates and the same levels of productivity, then we should

Domestic competition is the sum of consumption (C), investment I), government spending (G), and exports (X), while foreign

Principles for Responsible Investment. 11 Companies are also taking action on issues that may impact the

savings relatively quickly. 14 In addition, investments in capital expenditures for emission reduction can generate business opportunities for new sectors

an investment in human capital. Recent empirical evidence has indicated that, in the United states ozone levels below federal air quality standards

investments in for example, education or innovation •Biodiversity for innovation. Ultimately environmental degradation can impact the

entrepreneurship and investment, reinforcing business and political ethics, promoting gender parity, reviewing fiscal policy (tax code and social protection), and providing

capital investments; 27 third, it may require more redistributive efforts, thus potentially introducing more market distortions;

the amount of investment necessary to achieve the MDGS by 2015) was approximately US$120 billion a year, 2 while a

investments and entrepreneurial risk, which can in turn translate into the creation of new jobs and innovative

undertake the investments to build more sustainable economies, we hope that this assessment will provide

11 For information about the Principles for Responsible Investment see http://www. unpri. org /12 Bughin et al. 2010

World Investment Report 2014: Investing in the SDGS: An Action Plan. Geneva: United nations Publication UNDP (United nations Development Programme.

Foreign Trade and Investment VII. Domestic Competition VIII. Company Operations and Strategy IX. Government and Public Institutions

or discourage foreign direct investment (FDI)? 1=strongly discourage fdi; 7=strongly encourage fdi 2013†14 weighted average

To what extent does foreign direct investment (FDI) bring new technology into your country? 1=not at all; 7=to a great extent†FDI is a key source of new technology

equals gross domestic investment plus the current-account balance Sources: International monetary fund, World Economic Outlook Database (April 2014 edition;

except for equity and investment fund shares, financial derivatives, and employee stock options. For Australia, Belgium

encourage or discourage foreign direct investment (FDI 1=strongly discourage FDI; 7=strongly encourage FDI

To what extent does foreign direct investment (FDI) bring new technology into your country? 1=not at all; 7=to a great

investment flows, and financial stability. Prior to joining the Forum, he worked at the International Trade Centre

for foreign direct investments, focusing on the role of institutions and economic geography  2014 World Economic Forum

depends on undertaking the right investments and creating the right condition for it. Despite a drop of two

requires significant investment over many years Policymakers should pay particular attention to environment readiness. They should present citizens

through investment including public-private partnerships, smart regulation, or the provision of incentives†could boost the impacts of ICTS

depends on undertaking the right investments and creating the right condition for it With the most pronounced improvement among

) Coupled with other innovation-related investments such as research and development (R&d) and a favorable business environment (23rd), this results in a

virtuous circle of investment in ICT infrastructure, higher uptake levels, and stronger impacts for all.

innovation, such as R&d investments or higher levels of on-the-job training. To maximize their impact, these activities

integrating ICT investments better with other innovation -enhancing investments, such as R&d, would result in more robust economic outputs,

which are needed for the economic transformation of these countries In Southeastern Europe, once again Slovenia despite its current economic difficulties, continues to

investment in infrastructure and digital content (71st) are needed to ease access and foster even higher economic

innovative potential of ICTS, both through investment in capacity building and infrastructure and through a more

sustained investments to support the ICT sector adequately India is the least performing of the BRICS

investments to foster the scientific and technological capacity of the country will be important to increasing

fuel revenues toward ICT investments as a strategy to diversify their economies and make them less dependent

however, may require concurrent investment in resources to manage the rise in data. It is forecasted that by 2020

Investment in forthcoming projects is much more widespread; the research firm IDC has forecasted that the market for big data technology and services will

investment in 2013. Although few have actually undertaken large-scale big data or analytics programs to date, IDC forecasts investment in this area to grow at

a compound annual growth rate of over 20 percent over the coming five years. 7 Both expenditure and implementation vary

involves major investment over many years The first maturity stage, performance management enables executives to view their own business more

infrastructure investments for overly ambitious big data projects. Instead, they should select opportunities for high business impact

-scale investment is flowing into establishing big data capabilities in many organizations, despite the limited number of cases in which it has been used successfully

OECD paper estimates that inflation-adjusted investment in ICTS accounted for an average of 0. 5 percentage

that corporate investment in networked computer systems is associated consistently with increased labor productivity†for example, productivity was found to be

and A. Wà lfl. 2004. â€oeict Investment in OECD Countries and its Economic Impacts. †In The Economic Impact

investment and market growth. In the next sections we propose several options for regulators and companies to

-on-Trade-and-Investment//media/Files/Groups/ECSG/05 ecsg privacyframewk. ashx Beardsley, S l. Enriquez, W. Torfs, F. Grijpink, S. Newman, S

Investment in Telecommunications. †In The Global Information Technology Report: Growth and Jobs in a Hyperconnected World

would be expected, given their other investments and their information technology (IT) usage. 29 Another study has shown that the use of Internet computing tools can

huge investments in their IT infrastructure. 30 As is the case for businesses, policymakers are

a big data investment only if it has well-defined and realizable business objectives We offer here nine steps that companies can take

data investments to deliver value if business leaders do not have driven a data mind-set†that is,

Are our investments in customer service paying off? What is the optimal price for our product right now?

usually the right places to direct initial investments see Figureâ 1 Step 5: Match big data initiatives with compatible

investment of time, energy, and money Step 7: Assess complexities and prioritize accordingly All else being equal,

dimensions, the investments required for scaling technologies (such as processors, storage, database management systems, and analytics) to perform

business development and strategic investments, and corporate management as well as governance, operating models, and restructuring  2014 World Economic Forum

Druk Holding & Investment Randall Krantz, Strategy Adviser Bosnia and herzegovina MIT Center, School of economics and Business in Sarajevo

Board of Investment, Mauritius Manaesha Fowdar, Investment Executive, Competitiveness Khoudijah Maudarbocus-Boodoo, Director Ken Poonoosamy, Managing director

Joint Economic Council Raj Makoond, Director Mexico Center for Intellectual Capital and Competitiveness Erika Ruiz Manzur, Executive director

Public Authority for Investment Promotion and Export Development (PAIPED Mehdi Ali Juma, Expert for Economic Research

CONAPRI€ The Venezuelan Council for Investment Promotion Litsay Guerrero, Economic Affairs and Investor Services Manager

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