Chapter 11: Stimulating knowledge-driven entrepreneurship: delineating relevant networks and interactions
Bart Van Looy, Koenraad Debackere and Petra Andries INTRODUCTION Since the arrival on the scene of Joseph Schumpeter’s groundbreaking body of thought, it has been clear that innovation and entrepreneurship are closely interrelated. This interrelation has become the point of departure for a wide range of studies that make the link between innovation, entrepreneurship and economic growth. In particular, in recent years the interaction between innovation, entrepreneurship and regional economic development has become a central theme in many policy circles. Examples such as Cambridge UK and Cambridge US, and, more emphatically, the phenomenon of Silicon Valley, are the driving forces behind this interest. Today almost every European region is attempting to put together the ingredients necessary for endogenous economic growth, based on the innovative capacity and the entrepreneurial dynamics that can be mobilized in a particular region. The realization of such endogenous growth does, however, necessitate a deeper insight into the parameters and the dynamics upon which it is based. That is the first aim of this contribution. On the basis of both a study of the literature and empirical data, the authors offer an overview of and an insight into the manner in which knowledge-driven entrepreneurship can flourish. The results of this synthesis point to the necessity for a complex and guided interaction between knowledge-creating institutions (like universities and research centres), established businesses and new start-ups, with sufficient attention paid to the network of professional enterprises and infrastructure that frames such interaction. Drawing on examples from the United States,...
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