entrepreneurship and innovation in a regional context_f

8/19/2019 Entrepreneurship and Innovation in a Regional Context_F

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Entrepreneurship

Fundamentals

Part 1


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Content• The rationale of preoccupations regarding

entrepreneurship – The role of entrepreneurs and of small and medium-

sized enterprises (SMEs)• Employment, innovation, competition and democracy

– ole of entrepreneurship education

• Enterprises demography and the pro!le ofentrepreneur – "emography of enterprises in Europe – Tendencies regarding enterprises natality and mortality – The pro!le of the entrepreneur

•Evolution of conceptual thin#ing regardingentrepreneurship

• Main paradigms regarding entrepreneurship• "istinction $et%een entrepreneur, capitalist,

manager and inventor


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The role of entrepreneurs andSMEs (1)• Read also “Role of entrepreneurship in economic development”, Hisrich, Cap1, pag:

1!1"

• #mplo$ment – %t is estimated that the activit$ of entrepreneurs and

($oung) &'#s contriute to emplo$ment groth $creating ne *os+ #mpirical studies have shon,hoever, that the lin eteen the creation of neusinesses and the emplo$ment rate is not soovious (for a revie of various studies, see Chapter - of the paper

contained in #ntrepreneurship and *o creation file)+ .rom anotherperspective, *os in smaller firms appear to e moreresistant to crises due to these enterprises greaterfle/iilit$+

http://var/www/apps/conversion/tmp/scratch_6/Entrepreneurship%20and%20job%20creation.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Entrepreneurship%20and%20job%20creation.pdf


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The role of entrepreneurs and

SMEs (-)

• %nnovation – %t is estimated that the manifestation of

entrepreneurship relies to a large e/tent on innovationso as intensif$ing creation of ne usinesses as a

result of entrepreneurial activit$ leads to greaterinnovation and enhanced competitiveness+ #mpiricalstudies could not confirm ala$s that ne enterprisesand &'#s innovate more than older or largerundertaings, this eing due ! according to someauthors (including 0eter rucer) !to the fact thatinnovation in small firms has an informal and vaguecharacter and ma$ not e commensurate accordingto its real si2e+


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SMEs (3)

• Competition – The entry (on the mar#et) of ne%

enterprises constitute a threat to

incum$ents and forces them to %atch ontechnologies and $usiness models and toimprove their %or#&&

– Moreover, the e'istence of a strong and

dynamic sector of young (often small size)enterprises stand against the evolution ofindustries to%ards oligopolistic structures,contri$uting to maintaining and increasing

rivalry among !rms&


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SMEs ()

• "emocracy – olitical democracy depends on economic

democracy, namely the a$ility of large parts ofthe population to access independently to the

resources needed to ensure a normal level of%elfare (for e'ample, in some studies for theS* this level is +udged to $e reached ifrevenues are higher $y . than the e'pensesfor food and lodging)& The presence on a largescale of entrepreneurship in a non-discriminatory legal frame%or# decisivelycontri$ute (along %ith the relative gro%th ofhighly /uali!ed specialists - e'perts andmanagers - to increasing the middle class, asocial category that guarantees the

preservation of diversity of options&


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ole of entrepreneurshipeducation• 0iven that the num$er of entrepreneurs is higher in communities

that already have a certain tradition in this area, this fact suggeststhat education (in this case it is informal learning, learningoutcomes from others1 e'perience) is an important lever forincreasing the entrepreneurial phenomenon&

• Therefore, policies aimed at stimulating entrepreneurship putentrepreneurship education !rst&

• Entrepreneurship education should start as early as possi$le (frompre-school) and continued at all levels&

• Entrepreneurship education has a horizontal character2 it must $ea component of learning in all su$+ects and curricula&Conse/uently, entrepreneurship education is not located solely indisciplines aimed e'plicitly at providing #no%ledge regarding the

entrepreneurial phenomenon, such as the su$+ect3Entrepreneurship3&

• The discipline 3Entrepreneurship3 organizes #no%ledge andincrease students4 a$ility to sense, understand and interpret theentrepreneurial phenomena and to perform tas#s involving such acapacity, not only in the conte't of starting a $usiness on theiro%n, $ut also in other professional positions (development 5


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ole of entrepreneurship

education(6)• 7ncreasing the role of education in developing entrepreneurship is

recognized as a priority among E policies& (seeEC Communication of 68 , 9:slo *genda;, the study a$out theimpact of entrepreneurship higer education, pillar < ofEntrepreneurship 66 *ction lan)

• Most European students $elieve that educating students1propensity for innovation and entrepreneurship in universities isvery important

“5.2. The importance of fostering innovation and an entrepreneurial mindset amongstudents and sta – by country

Considering the 9total agree; ratio, for the four statements, the smallest variation $et%eencountries %as seen in regard to the /uestion concerning the importance of =E7s fostering innovation

and an entrepreneurial mindset among students and sta>2 a 6 percentage point di>erence$et%een countries %ith the highest and the lo%est level of agreement (the highest2 ?@. in olandand omania vs& the lo%est2 @A. in Croatia)& *s %ell as respondents in oland and omania,students in Slovenia (?8.), 7celand (?B.), ortugal and ulgaria ($oth ?.) gave high levels ofsupport to the need to foster innovation and entrepreneurial mindsets& *n e'amination of theproportions of those %ho %ere very much in favour of an entrepreneurial education sho%ed adi>erent hierarchy of countries& For e'ample, those students least li#ely to strongly agree that it wasimportant for HEIs to foster innovation and an entrepreneurial mindset were found in theNetherlands (32%), enmar! (33%), "ermany and Estonia (#oth 3$%) In contrast, Iceland (&3%),

'ulgaria (&%), lovenia and *omania (#oth +%) and -alta (+&%) had the highest levels of strongagreement in favour of fostering innovation and an entrepreneurial mindset. e/cerpt from thesurve which can #e consulted here

http://var/www/apps/conversion/tmp/scratch_6/EC%20Communication%20on%20entrepreneurship%20education_2006.pdfhttp://var/www/apps/conversion/tmp/scratch_6/oslo_agenda_final_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/effects_impact_high_edu_final_report_en_7428.pdfhttp://var/www/apps/conversion/tmp/scratch_6/effects_impact_high_edu_final_report_en_7428.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Entrepreneurship%202020%20Action%20Plan.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Students%20and%20higher%20education%20reform_2009.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Students%20and%20higher%20education%20reform_2009.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Entrepreneurship%202020%20Action%20Plan.pdfhttp://var/www/apps/conversion/tmp/scratch_6/effects_impact_high_edu_final_report_en_7428.pdfhttp://var/www/apps/conversion/tmp/scratch_6/effects_impact_high_edu_final_report_en_7428.pdfhttp://var/www/apps/conversion/tmp/scratch_6/effects_impact_high_edu_final_report_en_7428.pdfhttp://var/www/apps/conversion/tmp/scratch_6/oslo_agenda_final_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EC%20Communication%20on%20entrepreneurship%20education_2006.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EC%20Communication%20on%20entrepreneurship%20education_2006.pdf


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Enterprises1 "emography

• usinesses are $orn, go through an evolution during theire'istence and then 3die3& y analogy %ith the demographicindicators of population dynamics, one may studyphenomena that inDuence the num$er of enterprises2 $irthand mortality rates, population gro%th, infant mortality, lifee'pectancy, etc&

• Typically, there is a tendency for a high rate of $irth isaccompanied $y a relatively high infant mortality rate and alo%er $irth rate to $e accompanied $y greater lifee'pectancy&

• resent policy orientation is to reduce $arriers to entry ande'it from the mar#et, %ith prices that many of the Dedgling

$usinesses %ill not survive for


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Entrepreneur1s pro!le

• The study of di>erences $et%een entrepreneurs andother people %ent to the psychological, $ehavioraland relational characteristics empirical research alsosought to identify certain causalities related to theentrepreneur4s personal and professional life, %ith less

conclusive results&• T%o of the most recognized theories are2 – sychological theory2 the entrepreneur is a man of

e'ploration, a man of po%er and a 9misplaced3 (not very%ell integrated into society)

– The psycho-sociological theory 2 in addition to

psychological factors mentioned a$ove, other factorsoccur, some related to professional education (it is moreli#ely to start a $usiness in your professional !eld) andsome related to relationships (relatives, friends,colleagues) %ho can stimulate, encourage or help, the%ould-$e entrepreneur&


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Entrepreneur1s pro!le (6)

• =isrich /uoting Saras Sarasvathy2 speci!c forthe mentality of entrepreneurs is a processfocused on capitalizing present conditions -eectuation process - characterized in thatthe developer starts from %hat he o%ns (%ho is

he, %hat he #no%s and %ho he #no%s) tochoose %hich direction to turn the initiativeamong the possi$le options

• This approach is di>erent from that focused onachieving the goal proposed - causal processG %here the person !rst decide a target andthen see# to mo$ilize the necessary means toachieve it&

ead2 9=o% entrepreneurs thin#;, =isrich, Cap& 6, pag& - focusing on Bprinciples of 9e>ectuation process;2


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Evolution of conceptual thin#ingregarding entrepreneurship

• "uring the history the conceptual thin#ing has seenthe entrepreneur in di>erent %ays reDecting thecurrent economic, political5institutional and socialconditionsPeriod Main cathegories associated with entrepreneurship

Early period

*rmy leaders (con/uerors)

Traders I e'plorers (Marco olo)

Middle age Clerical

XVIIth century State (Cro%n) contractors

XVIIIth

centuryusiness person (possi$le confusion $et%een entrepreneur andcapitalist)

XIXth

century

=ead of enterprise (possi$le confusion $et%een entrepreneur and

manager)

XXth century 7nnovator and change agent

.or a more sophisticated aproach, please read: 'urph$, 4iao 5 6elsch:

A conceptual Histrory of Entrepreneurial Thought , 7ournal of 'anagement

8heor$, vol 1-, nr+ 1, -99" ( ta;at)

http://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdfhttp://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdfhttp://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdfhttp://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdfhttp://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdfhttp://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdfhttp://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdfhttp://var/www/apps/conversion/tmp/scratch_6/A%20conceptual%20history%20of%20entrepreneurship.pdf


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Main paradigms regardingentrepreneurship

• paradigm is defined as “A theoretical construct shared by a

significant number of researchers” (teenage> or pre!paradigmatic stage+

• Currentl$, there are four coe/istent paradigms aout

entrepreneurship:

– 8he opportunit$ paradigm

– 8he organi2ation!creation paradigm

– 8he value!creation paradigm

– 8he innovation paradigm


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8he business opportunity paradigm

• n opportunit$ means a favorale occasion hich arose at thesuitale time, place and circumstances

• >#ntrepreneurship is the process of creating or identif$ing anopportunit$ and pursuing it, regardless of the actual resourcesavailale”(7effr$ + 8immons, 1??)

• 8o senses – The objective vision: an opportunit$ e/ists o*ectivel$ and the

entrepreneur has the re@uired sensitivit$ to perceive it

– The constructivist vision: the opportunit$ is the creation of theentrepreneur ho has the ailit$ to comine different elements of theo*ective realit$ in a ne and useful manner

• 8he entrepreneurAs approach is descried as a process ofidentif$ing, evaluating and e/ploiting the opportunit$ here the focusis either on the opportunit$ itself (causal process), either on theentrepreneur capacit$ (effectuation process)+


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8he organization-creation paradigm

• 'ain representative: 6illiam B+ artner: “% thin that those ho are familiar ith someof m$ previous ritings on entrepreneurship are aare that the domain of entrepreneurship that interests me isfocused on the phenomenon of organi2ation creation” (artner, 6+B+: spects of organi2ational emergence, in Bull, %+=8homas, H+= 6illard, +: #ntrepreneurship – perspectives on theor$ uilding, 0ergamon, 1??D, p+ "?)

• ccording to this paradigm, the entrepreneur is the person homoili2es the talents and ailities of other people, provides thenecessar$ endonment and cause them to or *ointl$ for theachievement of a productEservice of a certain value+

• 8his paradigm can also e found at Ronald Coase, hen talingaout The nature of the firm, indicating that usinesses are the fruitof entrepreneurs ho prefer to organi2e production in order to avoidtransaction costs hich otherise ould e incurred in connectionith the use of the maret mechanism for purchasing the samegoods or services+

• 8he organi2ation is not an e/clusive attriute of the entrepreneur,ut rather, an attriute of the manager+ Hence the confusioneteen entrepreneur and manager should e avoided, mainguse of the feature of novelt$, hich is specific for the entrepreneur


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The value-creation paradigm

• *ccording to this paradigm, the entrepreneurconducts actions that have as their purpose thecreation of ne%, superior value& This paradigm isreDected in the de!nition of the enterprise given

$y FranJois errou'2 an enterprise aim is to o$taina positive di>erence $et%een the value of outputand the cumulated value of all inputs employedto creat that output&

• The limits of this paradigm are given $y the fact

that additional value can $e o$tained $y othermeans as %ell& Must $e made, therefore, thedistinction $et%een entrepreneur and capitalist&


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The innovation paradigm

• Koseph Schumpeter-considered father of moderntheories a$out entrepreneurship G advocated, in his%or#s, that a nation4s progress through innovation andtechnological change, is due to people %ith 3%ildspirit3, namely the entrepreneurs&

• *nother very inDuential author %ho $elieves that theentrepreneur and entrepreneurial approach are rootedin innovation is eter "ruc#er, the author of a %or# ofreference in the !eld2 7nnovation andentrepreneurship2 practice and principles (


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The interdependence ofparadigms


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The distinction $et%eenentrepreneur and capitalist

• The entrepreneur attract, organizes and coordinatesactivities and resources to produce, in a selfmaintained system, something ne%, of value tosociety, and hoping to get a re%ard (moral or material)

• The capitalist aims to achieve a gain at the e'pense of

the resources that it holds in the property (capital)&• To some e'tent, the entrepreneur can $e seen as a

creator, %hile the capitalist can $e seen as aspeculator (fortune see#er)&

• hereas capital is a necessary factor in theentrepreneurial approach and the e'ploitation ofopportunities through innovations often o>ers the$iggest gain to the holder of e/uity, in practice thedistinction $et%een entrepreneur and capitalist is notal%ays very clear& *s a result it is proposed theconcept of creative or enterprising capitalist&


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The distinction $et%eenentrepreneur and manager

• The entrepreneur proposes ne% solutions capitalizingon opportunities, %hile the manager ma#es use of#no%n, veri!ed solutions

The distinction $et%eenentrepreneur and inventor

• 7nventor creates something ne%, $ut, typically, andunli#e an entrepreneur, is not suNciently concerned ofits applica$ility also, more often than not, theinventor does not see commercial earnings as ameasure of success&

ead also 9Entrepreneurs versus inventors; in =isrich, Cap&


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7nnovation and creativity

in entrepreneurship

Part 2


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Traits of creativity• Creativity is a predisposition to generate and promote ne%

in all its forms&

• Creativity is the $asis of innovation, %hich is, in turn, theengine of progress, and the most important factor ofcompetitiveness

•7nnovation is also a de!ning characteristic ofentrepreneurship&

• Creativity is a human characteristic, present at $irth&

• Oot all people are e/ually creative&

• Creativity can $e educated&

• Creativity can $e stimulated, in particular through grouptechni/ues&

• Superior intelligence is useful for creativity, $ut a$ove acertain threshold inhi$its creativity&

• Creativity e'cels in pro#lem identi0cation, compared to

pro#lem solving


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The process of creativity

• The process includes the follo%ing stages ofcreativity& – reparation

• hen one gathers information, ma#es o$servations, de!nes thepro$lem, delineated, outlines a hypothesis&

– 7ncu$ation• conscious preoccupation ceases and searching is transferred intothe su$conscious&

– 7llumination• Ta#es place in the su$conscious, rely on inspiration or intuition and

consists of a synthetic #no%ledge of the solution, %hich clears up

all aspects of the pro$lem& 7magination plays an important role – eri!cation

• consists in transforming the intuited solution in somethinge>ectively applica$le

Ta#e a loo# at the presentation 9 The human $rain; (in omanian)

http://var/www/apps/conversion/tmp/scratch_6/Creierul_uman.ppshttp://var/www/apps/conversion/tmp/scratch_6/Creierul_uman.pps


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Creativity methods

• ead paragraph 9Creative pro$lem solving; in =isrich, cap&B, pag&


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7nnovation and itssigni!cance

• 7nnovation means the process of transformation of ne%ideas into commercial outcomes $y using ne% processes,products or services in %ays $etter and faster than thecompetition&

• To understand %hat are the main types of innovation, ho%to recognize in practice the novelty of a product or serviceand ho% to classify ne% products, read the paragraph97nnovation; Rn =isrich, Cap& B, pag&


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Systematic innovation1he concept of systematic innovation was introduced ande/plained #y eter ruc!er in his Innovation andEntrepreneurshipystematic innovation process permanent loo!out over4sources of innovation opportunities32

– 1he unforeseen5une/pected success, failure, unforeseene/ternal event une/pectedly

– Incongruence of reality as it is in fact and reality as it isclaimed that it is, or as it should #e

– Necessity of the process, ie, a situation where a need feltcannot #e solved #y 4!nown solutions3

– 6hanges in industry structure or demand, regardless of thecauses which have generated them creates an opportunity forintroducing innovations with relatively small ris!

– emographic changes5an o#vious source of opportunities forinnovation

– 6hanges in receptivity and understanding 5 or, in other terms,changes in the system of values and lifestyle changes

– New !nowledge, scienti0c or non5scienti0c, ma!ing it possi#leto o#tain new solutions7inedited in com#ination with

!nowledge already accumulated


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7mportant principles ofinnovation• innovation must aim at supremacy,

from the very $eginning

• innovation must meet the e'istingneed, not a future needs&


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7nstruments for the protection

of intellectual property rights• hy should intellectual property $e protectedP2

– read at least sections < and 6 of the document 3

*n 7ndustrial roperty ights Strategy for Europe @ L9

– *lso read a$out 9:pen source; din i#ipediahttp255en&%i#ipedia&org5%i#i5:penQsource

• 7deas are not protected $ut only the form(percepti$le to the senses) under %hich theyapply

For a presentation of 7 instruments please ta#e a loo# at E

7 =elpdes# 7ntroduction to 7ntellectual ropertyand 7ntellectual roperty ights

http://var/www/apps/conversion/tmp/scratch_6/An%20Industrial%20Property%20Rights%20Strategy%20for%20Europe%2007%2008.pdfhttp://var/www/apps/conversion/tmp/scratch_6/An%20Industrial%20Property%20Rights%20Strategy%20for%20Europe%2007%2008.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EU_IPR_Helpdesk_Introduction_to_IP.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EU_IPR_Helpdesk_Introduction_to_IP.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EU_IPR_Helpdesk_Introduction_to_IP.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EU_IPR_Helpdesk_Introduction_to_IP.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EU_IPR_Helpdesk_Introduction_to_IP.pdfhttp://var/www/apps/conversion/tmp/scratch_6/EU_IPR_Helpdesk_Introduction_to_IP.pdfhttp://var/www/apps/conversion/tmp/scratch_6/An%20Industrial%20Property%20Rights%20Strategy%20for%20Europe%2007%2008.pdfhttp://var/www/apps/conversion/tmp/scratch_6/An%20Industrial%20Property%20Rights%20Strategy%20for%20Europe%2007%2008.pdf


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"ata and statistical analysesrelating to innovation

Several regular studies monitor theevolution of innovation in Europe2

• 7nnovation nion Score$oard• E egional 7nnovation Score$oard• Trends and challenges in pu$lic sector inn

ovation in Europe

http://var/www/apps/conversion/tmp/scratch_6/ius-2015_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/ris-2014-summary_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/psi-trend-report-executive-summary_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/psi-trend-report-executive-summary_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/psi-trend-report-executive-summary_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/psi-trend-report-executive-summary_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/ris-2014-summary_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/ius-2015_en.pdf


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The $usiness model and!nancial issues in $usinessplanning

Part 3


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Considerations on the !nancialstructure of the enterprise

• The distinction $et%een the cost of investmentand recurrent costs

• The distinction $et%een !'ed and varia$le

costs• The distinction $et%een e/uity and lia$ilities

• Control of the relationship $et%een the eturnon assets ratio and the cost of de$t

• Control of the relationship $et%een duration ofreceipt of invoices and payment of suppliers

• *sset Turnover control

o cy nstruments


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o cy nstrumentssupporting start-ups and

SMEs• usiness 7ncu$ators• usiness 7nnovation Centers

•Seed-money and guidance (usiness*ngels)

• enture Capital (is# Capital)

•oan 0uarantees (0uarantee Funds)• Cro%dfunding

• Micro-loans

• 7nformal credit

#BI

#BI

#GC!%nvest#urope

.IC%''

ofundme, istarter , crestemidei

https://www.gofundme.com/?pc=cf2http://ebn.be/http://www.eban.org/http://www.investeurope.eu/http://www.fngcimm.ro/index.php?page=prima-paginahttps://www.gofundme.com/?pc=cf2https://www.kickstarter.com/http://crestemidei.ro/ROV150RobotsubacvaticmadeinRomania?locale=rohttp://crestemidei.ro/ROV150RobotsubacvaticmadeinRomania?locale=rohttps://www.kickstarter.com/https://www.gofundme.com/?pc=cf2http://www.fngcimm.ro/index.php?page=prima-paginahttp://www.investeurope.eu/http://www.investeurope.eu/http://www.eban.org/http://ebn.be/


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*dvantages and disadvantages ofsu$sidies

State aid policy allo%s su$sidy schemes for the creation of ne%enterprises and small and medium enterprises (3de minimis3rule)

ene!ts7ncentive e>ect

Support to the o$+ectives of pu$lic policies (education, innovation, competition,employment, local development, social responsi$ility)

everage e>ect

is# mitigation e>ect and reduction of the cost of capital (ena$le the initiation of $usiness

not very secure or that does not promise an e'ceptional pro!ta$ility)

"isadvantages

Cheap money generate %ea# $usinessureaucracy

Constraints

Corruption


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The $usiness environment

and E conte't forentrepreneurship and

innovation

Part 4


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conte't an po c es or


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conte't an po c es orentrepreneurship and

innovation• The frame%or# descri$ing the Econte't and policies related toentrepreneurship and enterprises is

descri$ed http255ec&europa&eu5gro%th5inde'Qen&htm (seene't slide)


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0lease, screen policies under each ta: &ingle maret, %ndustr$, #ntrepreneurship

and &'#s, ccess to finance for &'#s, &ectors


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Main documents

• Entrepreneurship action plan

• E 7ndustrial policy

• Small usiness *ct evie%

• =orizon 66

• E program for SMEs GC:SME leaDet,

%e$page
http://var/www/apps/conversion/tmp/scratch_6/Entrepreneurship%20Action%20Plan.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Industrial%20policy.pdfhttp://var/www/apps/conversion/tmp/scratch_6/SBA%20Review%202011.pdfhttp://var/www/apps/conversion/tmp/scratch_6/h2020-wp1617-leit_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/COSME-leafletEN.pdfhttp://ec.europa.eu/growth/smes/cosme/index_en.htmhttp://ec.europa.eu/growth/smes/cosme/index_en.htmhttp://var/www/apps/conversion/tmp/scratch_6/COSME-leafletEN.pdfhttp://var/www/apps/conversion/tmp/scratch_6/h2020-wp1617-leit_en.pdfhttp://var/www/apps/conversion/tmp/scratch_6/SBA%20Review%202011.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Industrial%20policy.pdfhttp://var/www/apps/conversion/tmp/scratch_6/Entrepreneurship%20Action%20Plan.pdf

entrepreneurship and innovation in a regional context_f

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