Innovation & High Growth Enterprise

Group 4: Holly Good | Stephen Mashonga | Przemyslaw J. Pikul | Shen Yuan

Global Entrepreneurship Monitor

Annual report measuring differences in levels of entrepreneurial activity among countries and examines the factors, attitudes and
policies that effect this. Activity measured by:
• Total Entrepreneurial Activity • Necessity TEA • Opportunity TEA • High Growth TEA

Innovation
• Important factor in economic development and growth
• Enhances productivity
• Requires entrepreneurship to become a commercial success.
• Investment in R&D and appropriability of innovation determines long term growth.
• Technological innovation - endogenous determinants and knowledge spill overs.

High Potential TEA and Growth

Developing Innovation & High Potential Enterprise in Scotland

• Scottish Institute for Enterprise
Encouraging enterprise amongst students in Scotland through
advice, events and competitions.
• Enterprise Fellowships
Offers a year’s salary and business training to researchers, post-
graduates and recent graduates to develop their business ideas.
• Proof of Concept Programme
Helps researchers at universities and in health boards in
Scotland get their ideas to market.
• Innovation Support Service
Guidance and advice from Scottish Enterprise, Innovation
Counselling & Advisory Service for Scotland (ICASS),
Intellectual Assets Centre and others.
• Scottish Seed Fund
£20k to £100k available to finance young and growing companies.
• Scottish Co-Investment Fund and Scottish Venture Fund
Linking and supporting private sector investment from £100K
to £1M (SCF) and £2M to £10M (SVF).
• Business Introduction Agencies
Connecting investors and developing companies through
Business Angels, LINC Scotland and others.
• Network and Hotspot Building
Encouraging development of networking groups such as SMART:
Scotland. Creation of specialised parks and zones such as
biomedicine and gaming technology in Dundee; oil expertise and
science parks in Aberdeen; financial services and media in Glasgow
and finance and biosciences in Edinburgh.

Discussion:
• What factors encourage or discourage innovation and high potential enterprise?
• How well does current policy in Scotland foster innovation and enterprise and meet the needs of would be entrepreneurs?
• What other initiatives or support could be provided to increase high potential enterprise in Scotland?
Bibliography/Further Info
Bosma, N., Acs, Z.J., Autio, E., Coduras, A., and Levie, J. (2009). Global Entrepreneurship Monitor 2008 Executive Report
[online]. London: Global Entrepreneurship Research Association. Available from http://www.gemconsortium.org
Bosma, N., and Levie, J. (2010). Global Entrepreneurship Monitor 2009 Global Report
[online]. London: Global Entrepreneurship Research Association. Available from
http://www.gemconsortium.org.
British Library (2010). Business & IP Centre [online]. Available at: http://www.bl.uk/
rs free
ateway offe
Business G d bipc/ [Accessed 20 November 2010]
aining an
start-up tr in Business & IP Centre | @BIPC | Business Library UK Entrepreneur Network
workshops
specialised edia ,
social m Business Gateway, 2010. Business Gateway [online]. Available at
marketing, c.
ance, et
raising fin http://www.bgateway.com
@bgateway
Department for Innovation, Universities & Skills, 2008. Innovation Nation
[online]. London: HMSO. Available from Other Twitt
er feeds:
http://www.bis.gov.uk/assets/biscore/corporate/migratedD/ec_group/18-08-C_b
E-Club Ed
[Accessed 25 November 2010] inburgh
@bisgovuk @EclubED
I
National C
Enterprise Europe Network Scotland, 2010. Enterprise Europe Network Scotland onsortium
University of
[online]. Available from Entrepren
eurs
http://www.enterprise-europe-scotland.com [Accessed 19 November 2010] @NACUE
@stairwaytoseven National F
ed
Enterprise eration of
Agenc
FlyingStart, 2010. FlyingStart [online]. Available from @NFEAnet ies
http://flyingstartonline.com [Accessed 19 November 2010] work
@FSMakeItHappen @_make_it_happen @eternship
s
@FastComp
any
Innovation UK, 2010. Innovation UK [online]. Available from @guruspot
http://www.innovationuk.org [Accessed 25 November 2010] @LaunchL
ab
@InnovationUK @ScotBizN
et
@SmartaH work
Q
Launch48, 2010. Launch48 [online]. Available at @startupca
fe
http://www.launch48.com
Launch 48 | @Launch48 | Launch48
Levie, J., 2010. Global Entrepreneurship Monitor Scotland 2009 [online] London:
Global Entrepreneurship Research Association. Available from
http://www.gemconsortium.org.
National Council for Graduate Entrepreneurship, 2010. National Council for Graduate Entrepreneurship [online]. Available at:
http://www.ngce.com. [Accessed 19 November 2010]
@NGCE
Scottish Council for Development & Industry, 2010. Scottish Council for Development & Industry [online]. Available at: http://
www.scdi.org.uk. [Accessed 22 November 2010]
@SCDInews
Scottish Enterprise, 2010. Scottish Enterprise [online]. Available at
http://www.scottish-enterprise.com. [Accessed 19 November 2010].
dent Intern @scotent @scotentweb
UWS’s SIE Stu
Katie Hanlon otmail.com Scottish Institute for Enterprise, 2010. Scottish Institute for Enterprise [online].
h
k_b_mclaren@ Available at: http://www.sie.ac.uk. [Accessed on 23 November 2010].
p - Oct 10
New Ideas Com ,500 prize Scottish Institute for Enterprise | @_sie_ | SIE Entrepreneurs
to Mar 11 - £1 Wong, P.K., Ho, Y.P. and Autio, E. (2005), Entrepreneurship, innovation and
Comp -
New Ventures economic growth: Evidence from GEM data. Small Business Economics, Vol 24,
!!!
up to £6,000 No 3, pp 335-360.