Factor and Framework Conditions for Knowledge-Based Entrepreneurship

A few months ago we featured a report on knowledge-based entrepreneurship in India.  Continuing with that theme, it seems relevant in these difficult economic times to take note of the various facilitating factors or framework conditions that researchers have identified for “knowledge-intensive entrepreneurship” to flourish and sustain.  For example, the Global Entrepreneurship Monitor has cited ten such factors or conditions, including financial support; government policies; government programs; education and training; research and development transfer; commercial and professional infrastructure; internal market openness; access to physical infrastructure; cultural and social norms; and intellectual property rights protection.  Gupta, focusing specifically on facilitating and supporting technology-based entrepreneurship in India, suggested similar types of supporting activities, including creating the right environment for success (i.e., entrepreneurs should find it easy to start a business; ensuring that entrepreneurs have access to the right skills, both entrepreneurial (i.e., how to manage, finance and grow businesses) and functional (i.e., technical, product development, marketing, human resources, etc.); ensuring that entrepreneurs have access to “‘risk capital” and enabling networking and exchange so that entrepreneurs can learn quickly from the experiences of others.  Policymakers should heed this advice in developing their plans for re-igniting real economic growth and dynamism.

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