Innovative Entrepreneurship - Pulling on Both Oars Together

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Innovative Entrepreneurship - Pulling on Both Oars Together Prof Pauric McGowan University of Ulster

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Innovative Entrepreneurship - Pulling on Both Oars Together. Prof Pauric McGowan University of Ulster. The Changing Face of Innovation and Entrepreneurship-Policy Perspectives. A greater commitment to and integration of both is crucial for economic recovery in current times, Abreu et al 2011 - PowerPoint PPT Presentation

Transcript of Innovative Entrepreneurship - Pulling on Both Oars Together

Page 1: Innovative Entrepreneurship - Pulling on Both Oars Together

Innovative Entrepreneurship- Pulling on Both Oars Together

Prof Pauric McGowanUniversity of Ulster

Page 2: Innovative Entrepreneurship - Pulling on Both Oars Together

The Changing Face of Innovation and Entrepreneurship-Policy Perspectives

• A greater commitment to and integration of both is crucial for economic recovery in current times, Abreu et al 2011

• Policies need to be sensitive to the existing structures, cultures and competitive strengths of regions/countries

• There is a need to consider policies with respect to innovation and entrepreneurship that: • are comprehensive • go beyond R&D, Technology Transfer (TT) and New Product Development (NPD) • encourages innovation in processes and practices • incorporates services as well as goods

• This requires a commitment to a wider interpretation of what we mean by ‘innovative practices’ Abreu et al 2011, FORFAS 2011

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Short-Falls of ‘Innovative Entrepreneurship’

• According to different research sources there is currently a need for:• Increased contributions from Public and Private Research Organisations• More joined-up thinking from central government• More encouragement, including additional tax breaks for those engaging in risk-taking

to grow ventures• Control over the level of evaluation• More disruptive innovation but a greater commitment to wider innovation• Easier access to appropriate levels of funding in recognition of the often high-cost of

innovation particularly for SMEs• To make available a world-class ICT infrastructure• Various stakeholders to encourage greater entrepreneurial endeavour to exploit

innovative endeavour, challenge the status-quo and to think global

Murray et al (2009), FORFAS 2011

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Entrepreneurship Policy

Mode One Innovation

Mode Two innovation

Mode Three innovation

.

Offers policies for pre and early stage activity, (questions

however around coherency and

extent of policies and in fostering

the nexus between I and E)

Emphasises needs of

manufacturing industry

Key focus is on R&D

and TT activity

Key focus is on TT activity

Innovation takes place

within a system, many

players, recognises

demand-driven innovation

Recognises importance of

open innovation and the service

sector

Supports a triple helix,

HEIs/Research Centres,

business and policy-makers

Encourages innovation in

the public and third sectors

Importance of developing

social capital, networks trust

Promoting appropriate culture for innovation

Northern Ireland WnP X

X X

Republic of Ireland WnP

X X X

Finland Progressing X X X X X X

Insights to Differences Between NI, RoI and Finland

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Key Considerations about “innovative entrepreneurship” moving Forward

• To re-evaluate the over emphasis on technological innovation and R&D• To introduce greater flexibility into the targeting of innovation expenditure• To recognise for example, the importance of the services sector in developed

economies and in terms of encouraging innovation and greater entrepreneurial endeavour

• To enhance physical infrastructure , particularly in telecoms, of the importance in knowledge-intensive service industries

• To build, thoughtfully at the HEI/Business interface• To consider the scope for innovative entrepreneurial practice within the public

and third sectors• To be sensitive to the peculiar circumstances of regions/countries, one size does

not fit all• To recognise the importance of global markets in stimulating export-led growth in

the SME sector and to developing a knowledge-based or “smart” economy• To build some coherency into policies at the I&E nexus, particularly around

investment funding