Entrepreneurship, Innovation and Regional Development

Entrepreneurship, Innovation and Regional Development

Edited by David Smallbone, Markku Virtanen and Arnis Sauka

Entrepreneurship and innovation are arguably the main drivers of economic development today. This book explores the two in depth, at both the national and regional levels, using a variety of methodologies. The expert contributors discuss the subject from a policy perspective, with case studies from a host of countries including new member states of the EU as well as established EU member states. Split into three parts, the book focuses on: innovation, entrepreneurial activity and regional development, and entrepreneurship and SME policy.

Chapter 6: Is Estonia becoming a better home for ‘born globals’?

Tõnis Mets

Subjects: business and management, entrepreneurship, geography, economic geography, urban and regional studies, regional economics

Abstract

The importance of innovative globalising high-tech small and medium-sized enterprises (SMEs) in the economy has grown particularly for small emerging countries because of the need for the balanced development of their innovation system, knowledge-based economy and society. Technology start-ups able to globalise from inception in the literature are called ‘born global’ (BG) companies. The chapter aims to study the internationalisation trajectories of BGs in the developing entrepreneurial ecosystem framework of the emerging knowledge economy. The author supposes that value system and networks of BGs are part of the general entrepreneurial ecosystem, and the factors leading to early internationalization are new market conditions, technological advantages and entrepreneurial learning. The three case study companies come from different fields: mobile payment _ Mobi Solutions; remote premises surveillance technology – Defendec; and smart pot and garden systems _ Click & Grow. The case studies demonstrate the different globalisation trajectories of start-ups depending on the maturity of the entrepreneurial ecosystem. The conclusion proposes that shortening the start-up period, increasing the number of success stories, and increasing the intensity of start-up creation indicate the maturity of the entrepreneurial ecosystem; and that the ecosystem itself has become more global than ever before.

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