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Institutional reforms have resulted in deep transformations of the global economy. Yet, the theoretical development and accumulating insights about the effects of institutional reforms on entrepreneurial outcomes have been inconclusive. Our study applies categorisation theory to argue that flexibility- and stability-enhancing reforms may affect entrepreneurial growth ambitions in distinct ways, depending on whether more innovative versus less innovative entrepreneurs perceive specific reforms as an opportunity or a threat. Our study employs a multi-source, repeated cross-sectional dataset of approximately 150,000 entrepreneurs from 65 countries, covering the period from 2002 to 2016. Our findings indicate that flexibility-enhancing reforms lead to higher growth ambitions. They are particularly favoured by less innovative entrepreneurs. On the contrary, stability-enhancing reforms do not affect growth ambitions of entrepreneurs in general but rather increase growth ambitions of more innovative entrepreneurs. Our study provides important theoretical and practical implications about the consequences of institutional reforms on growth ambitions of entrepreneurs with different levels of innovation. [ABSTRACT FROM AUTHOR]

The aim of the article is to determine the features of the relationship between innovative entrepreneurship and external effects arising from the introduction of innovations, from the standpoint of understanding under what conditions the losses that society bears, also the numerous complex risks from the introduction of innovations, can be acceptable, justified and properly compensated. In a complex, dynamic world, innovative technology and entrepreneurship play a crucial role in overall economic development. Along with this, the carried out study of many aspects of the impact of innovation and innovative entrepreneurship on economic growth and development of society has also revealed a significant number of negative external effects that arise at different economic levels and which today are almost not regulated. These external effects accumulate, transform, and give rise to other additional effects. Despite a large number of studies, various attempts by scholars to advance in the elimination of negative externalities have not yet provided an adequate organizational and methodological approach to such an internalization of these effects, which could be considered quite effective. Based on the analysis of scientific sources, one of the main reasons for the imperfect mechanism for eliminating the negative consequences of externalities of innovation activity is the insufficiency of the development of the taxonomy of externalities – due to the lack of progress in the establishment and distribution of property rights to external effects and the appropriate differentiation of possible types of externalities in terms of their significance and scale. The existing institutional possibilities of such regulation are not satisfactory and should be transformed in accordance with the new socioeconomic needs of society. The authors also note that due to the increased complexity and lack of a universal approach to the valuation of external effects, the development of an appropriate mechanism for regulating externalities actualizes the study of a broader issue of management accounting in the context of the above problem.

The relevance of the study is due to the need to determine a business model that meets the modern realities of doing business at the initial stage of building a business. The purpose of the paper is to study approaches to building business models of innovative enterprises and companies in Kazakhstan, taking into account the impact of the global pandemic and digital technologies. The transformation of business models is analyzed on the example of the sphere of innovative entrepreneurship using theoretical methods (analysis; synthesis; concretization; generalization; method of analogies; modelling). As a result, the key criterion that distinguishes innovative entrepreneurship from its classical understanding is formulated and a typical business model of an innovative enterprise was formed. [ABSTRACT FROM AUTHOR]

Universities are widely recognized as key players in entrepreneurial ecosystems that support entrepreneurial activities to create economic and social value in the region. Previous research has increased our understanding about the role of universities contributing to regional economic development and entrepreneurship through knowledge transfer mechanisms, increasing human capital and innovation activity. However, little is known about the contribution of universities to the actual entrepreneurial processes in spatial context. Utilizing the case study approach, this study examines university as an ecosystem actor, focusing particularly on the enabling role of universities in entrepreneurial opportunity formation. As a result, this study provides a conceptualization of four different entrepreneurial opportunity spaces, bounded by the varying degrees of knowledge applicability and opportunity proximity. This article contributes to research on regional entrepreneurial ecosystems and on the role of universities as ecosystem actors contributing to research knowledge-based entrepreneurial opportunity formation for innovative entrepreneurship. [ABSTRACT FROM AUTHOR]

This article theoretically investigates the conditions that empower actors (entrepreneurs and intrapreneurs) to pursue combinatorial innovation processes, and thereby contribute to transformative activities with a high degree of novelty and complexity. We argue that the possibility for combinatorial innovation depends on agents’ time perspective and combinatorial capabilities. We elaborate why institutional incentive structures and knowledge bases condition actors’ time perspective and why network structures and firm routines condition actors’ combinatorial capabilities. We illustrate our arguments with examples and show their practical relevance for policy and innovative actors. [ABSTRACT FROM AUTHOR]

Recently, there has been increased discussion of entrepreneurship and innovation as process-based phenomena. However, research on the essence of dynamic entrepreneurial and innovation processes and their simultaneous interactions needs to be more cohesive and well-covered. This article critically reviews prior publications and explores the process approach to entrepreneurial and innovation processes. Structuration and equivalence theory, systems and design thinking, and pattern matching theory were implemented to structure and synthesise a converged operationalised dynamic process model. Exploring different approaches to entrepreneurial and innovation processes by screening 468 publications on entrepreneurship and 527 on innovation and a critical review of prior findings, the article identified only 17 and 13 dynamic process models, respectively. Six structurally comparable models covering both disciplines were selected for further analysis. Both disciplines' dynamic process models can be structured into five harmonised stages, which can partly be divided into (sub)phases. The article's primary contribution to the theory is systematically integrating process-based and design approaches in entrepreneurship and innovation. As a result, a streamlined and converged dynamic process model is developed, and the role of the process venue and the entrepreneur or innovator is discussed. As a practical implication, future directions for entrepreneurship and innovation educators, policymakers, and entrepreneurial/innovation ecosystem stakeholders are presented at the end of the article. [ABSTRACT FROM AUTHOR]

The subject of the study is public relations in the field of economic and legal regulation of innovation activity. Methodology. The methodological basis of the study is the methods of induction and deduction, the dialectical-materialist method, the method of analysis and synthesis, and the historical method, which allowed for an objective understanding of the content and essence of the issues under study. The purpose of the article is to analyse the theoretical and practical aspects of economic and legal regulation of activities of public administration entities in the innovation sphere in Ukraine and developed countries, and to propose effective ways to improve the mechanism of the relevant state policy. The results of the study show that the State economic and legal regulation of innovation activity is carried out with the aim of ensuring progressive transformations in the field of material production, increasing the competitiveness of the national product in the world market, improving the environmental situation, and strengthening the security and defence capability of the country. The economic and legal regulation of the activities of public administration entities in the innovation sphere should not restrict innovation processes (including through excessive structuring and detailing), but should set the direction of their evolution, constantly improve, dynamically monitoring changes in the situation. Conclusion. The main form of state support for the development of innovation is the economic and legal regulation of innovation activities, support for small innovative enterprises and the creation of a favourable innovation climate. The aim of state policy in this area is to move towards an innovative development path based on selected priorities. The state economic and legal regulation of innovation activity is carried out in order to ensure progressive transformations in the sphere of material production, increase the competitiveness of the national product on the world market, improve the environmental situation, strengthen the security and defence capability of the country. In order to achieve the effectiveness of innovation activities, it is necessary to adopt a new approach to solving the problems of antimonopoly policy, product quality management, safety and labour protection. This requires the adoption of new laws and regulations, which should take into account legal issues related to the development of production, resource conservation, environmental protection, etc. The regulatory framework of innovation activity should be brought in line with innovation policy, in particular, it should be closely linked to the measures provided for in the relevant state programme documents and should actively contribute to their implementation.

Copyright of CLIO América is the property of Universidad del Magdalena and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Electrónica de Investigación en Ciencias Económicas (REICE) is the property of REICE: Revista Electronica de Investigacion en Ciencias Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Our study contributes a contextual perspective on entrepreneurs' networking, shifting focus from individual-level network structure and networking activities toward understanding networking as a multilevel process involving individual and contextual mechanisms. Through a multiple case study of entrepreneurs in Silicon Valley and Berlin, we introduce networking temperature as novel concept that captures context-bound templates for how entrepreneurs should network, ranging from colder to warmer. As core implications, networking temperature enables a contextualized understanding of tie quality, to explain why networking takes different forms in different contexts, and why entrepreneurs gain more cumulative advantage from their existing relationships in warmer than colder contexts. [ABSTRACT FROM AUTHOR]

This research delves into the underlying impacts of farmers' innovative entrepreneurship on agricultural and rural economic development in China, adopting a dynamic and spatio-temporal perspective. The study utilizes panel data encompassing 30 provinces (cities and autonomous regions) from 2015 to 2020, with a systematic consideration of diversified spatial weight matrices. The empirical findings reveal that the spatial distribution of rural innovative entrepreneurship demonstrates a characteristic of low-low agglomeration, accompanied by evident positive spatial spillover effects and radiation-driving effects, especially in regions with similar urbanization levels. Additionally, the study identifies heterogeneous effects across regions with different grain production patterns and household income levels. Ultimately, the research underscores the significance of deeply integrating farmers' innovation and entrepreneurship and provides empirical evidence to support the necessity of adopting differentiated and specialized incentive measures for rural entrepreneurship amid the context of the new economic normal.

The purpose of the article is to conduct a comparative analysis of the trends in the development of startups, taking account of world practices and the possibility of their implementation in Ukraine. The impact of Industries 4.0, 5.0 on ensuring the high-tech development of national economic systems is substantiated and the need to implement startups as the basis for the formation of innovative entrepreneurship is emphasized. Changes in global financing of startups are analyzed, a decrease in the number and value of deals on the financing of startups and fluctuations in the financing due to the phased development of startups are revealed. The following reasons for the decrease in the financing are identified: a slight rise in investment in the early stages of the development of startups and a fall in the level of global financing of startups due to the unattractive investment climate in the global economic system. The need for assessing the factors in the formation of a new ecosystem for the development of startups by country, changes in the number of registered startups is emphasized. The leaders in the development of startups in the TOP-5 countries are identified, examples of highly rated startups in specific countries are provided and the main areas of their operation are determined. The trends towards the increase in the number of dismissals of IT workers in 2023 are systematized. It is found that such dismissals have a negative impact on the technological development of sectors and decrease the attractiveness of startups in innovative entrepreneurship. The global structure of startups by fields of activity and changes during 2022-2023 are analyzed, reductions in such industries as social networks and leisure, e-commerce and retail are detected. The main global trends in the development of startups and influencing factors in the development of startups are determined. It is concluded that in the conditions of global transformations there are negative changes in the development strategies of startups, the priority areas are the planning and improvement of business models, and not the growth strategies within the framework of increasing the profitability of foreign companies.

The entrepreneurial sector is entrusted with a supporting role in saturating the market with goods and services, developing healthy competition, which puts the problem of forming entrepreneurial potential in a special place and shows the relevance of this issue in the research of modern science. The purpose of the work is to substantiate the organizational and economic foundations for the formation of entrepreneurial potential in the agrarian sphere. The objectives of the study include highlighting the aspects of structuring, effectiveness and existing dependencies in the development of the agrarian sector; the influence of socio-economic factors on the formation of entrepreneurial potential; substantiation of promising types of entrepreneurships in the agrarian sphere. Substantiation of the structural elements of the manifestation of the essence of the agrarian sphere, which influences the formation of entrepreneurial potential due to the effectiveness and existing dependencies in development, provided an opportunity to determine the promising directions of the development of the agrarian sphere. These include: the expansion of activities and production of new types of products, provision of various services, in particular financial, informational and advisory, as well as development of innovative entrepreneurship, oriented not only to the domestic sales market, but also to the global markets of agricultural products. The work focuses on the development of innovative entrepreneurship as a basis for strengthening the economic potential of rural areas. The components of the development of the system of innovative entrepreneurship as a basis for strengthening the economic potential of rural areas include: infrastructure development; generation of scientific knowledge and innovations; creation of a training system for innovative managers; motivation of labor in the agrarian sphere; investment support for innovative technological processes; use of the latest technologies; expansion of integration ties between subjects of economic relations. It has been proven that the implementation of organizational and economic measures for the development of various forms and types of entrepreneurship in the agrarian sphere will contribute to solving a number of problematic issues related to: increasing the level of employment and reducing migration processes; ensuring compliance with a high level of product quality and marketability; regulation and expansion of product sales directions; raising the level of awareness in financial and economic issues of entrepreneurship development by strengthening the scientific and educational environment; development of industrial and social infrastructure, as well as increasing the efficiency of their use.

Studying the influencing factors of college students’ innovation and entrepreneurship ability is crucial to optimizing the innovation and entrepreneurship of college students in the context of high-quality development. Based on this, this paper constructs an SEM structural equation model and improves the convergence of the PLS algorithm using the least squares solution and optimal iteration initial value for the PLS algorithm in the SEM model. Then, the correlation analysis is done between six influencing factors, such as national policy, birthplace, and entrepreneurial activities, and college students’ innovation and entrepreneurship ability, and finally, the hypothesis of the influence of innovation and entrepreneurship ability is verified by the SEM model test. The main results are as follows: this paper constructed a model of influence factors on college students’ innovation and entrepreneurship ability, with five levels and 18 factors, and ranked their importance. The SEM model’s fit coefficient of 0.927>0.9 is a sign of a high degree of fit in the structural equation model. The regression coefficients of the five dimensions calculated according to the SEM model are 0.781, 0.939, 0.243, 0.935, and 0.839. All five dimensions have a significant positive impact on innovation and entrepreneurship. This paper finds that there is a positive correlation between college students’ innovation and entrepreneurship ability and national innovation and entrepreneurship policy, place of origin, entrepreneurial activities, education, and internship experience, and constructs the optimization path of college students’ innovation and entrepreneurship ability.

The ant colony algorithm, a heuristic algorithm that mimics ants’ foraging, can optimize problem-solving. Applying this algorithm to the design of innovation and entrepreneurship projects in colleges and universities can enhance the effectiveness and feasibility of these projects. Based on an analysis of the college innovation and entrepreneurship project design process, the article explores the entrepreneurial path through the use of big data analysis. Then, it discusses the ant colony algorithm’s basic concept and mathematical model and proposes a two-population ant colony algorithm for multi-objective resource-constrained project scheduling problems. When compared to the traditional algorithm, the improved ant colony algorithm runs 25–33 ms faster, and Company A’s operating costs drop by 1,176,000 yuan from 2020 to 2023. This shows that the improved ant colony algorithm suggested in this paper can make university innovation and entrepreneurship programs more efficient at allocating resources.

The research is dedicated to exploring the significant impact that startup accelerators have on the growth and development of innovative entrepreneurship. It examines how these accelerators support emerging businesses, particularly in the areas of technology and innovation. The study aims to critically analyse and articulate the integral role of startup accelerators in fostering AI-driven entrepreneurship, thereby contributing to a broader understanding of their impact on the innovation ecosystem. The research findings indicate that accelerator programs are instrumental in the growth of AI startups, contributing more than just financial aid. They offer crucial strategic advice, mentorship, and access to broad networks. A notable example is the success of AI startups like OpenAI, which have flourished under these programs, gaining substantial funding and high market valuations. This underscores the role of accelerator programs in fostering industry innovation and growth. AI-focused entrepreneurial ventures are expected to have a significant impact on the global economy and technological progress. By 2030, they are expected to contribute around 16 trillion USD to global GDP, primarily driven by productivity gains, personalisation and quality improvements. Innovation development policies, particularly in AI, have a profound impact on the global redistribution of human capital, particularly in terms of talent acquisition and innovation. Initiatives aimed at strengthening AI talent and facilitating visa processes are critical to attracting global talent, thereby boosting the innovative capabilities of these startups. The race for intellectual capital is predominantly among major players such as the US, China and the UK. The study provides valuable insights for entrepreneurs and investors, highlighting how accelerator programmes can effectively support startup growth and innovation, especially in emerging technology areas such as AI.

The world's food security largely depends on the stability of agri-business worldwide, but mainly in the main producing countries of agri-food products. The purpose of the study is to determine the current realities and opportunities for the development of agrarian business in Ukraine in crisis conditions for the development of effective strategies and promising growth of the agrarian sector. Research methods: monographic, abstract-logical methods, method of analogies and comparisons, systematic approach, statistical and graphic methods. In the course of the study, it was determined that in 2022, a significant number of agricultural enterprises suffered losses as a result of the system challenges. The loss of 15-20% of cattle, pigs, and poultry, and the loss of production facilities and animal husbandry complexes led to a reduction in production in both the crop and animal husbandry sectors. The article highlights the exogenous and endogenous risks of the functioning of the agricultural sector. Internal risks include loss of production and resource potential of the agricultural sector; the liquidation of a significant number of agrarian business enterprises; change of specialization due to significant economic losses; loss of part of the infrastructure facilities for storage and primary processing of agricultural products; difficulty in selling products to foreign markets. Exogenous risks are described, in particular, the reduction of investments in agricultural production, problems with the purchase and import of fertilizers and plant protection products into the country, and delays in the purchase of modern agricultural machinery. It was noted that the presence of the listed external risks will have a negative impact on the country's economy and food security. The actions of the government for the sustainability of agrarian business are described, namely, the restoration of the export of agricultural products by sea, the development of alternative logistics networks for export, solving the problems of the seed company, and providing the possibility of special credit programs and tax holidays. The main problematic issues that the government needs to solve to ensure the stability of the agrarian business and the possibility of its further effective functioning are presented. [ABSTRACT FROM AUTHOR]

The purpose of the article is to conduct a comparative analysis of the trends in the development of startups, taking account of world practices and the possibility of their implementation in Ukraine. The impact of Industries 4.0, 5.0 on ensuring the high-tech development of national economic systems is substantiated and the need to implement startups as the basis for the formation of innovative entrepreneurship is emphasized. Changes in global financing of startups are analyzed, a decrease in the number and value of deals on the financing of startups and fluctuations in the financing due to the phased development of startups are revealed. The following reasons for the decrease in the financing are identified: a slight rise in investment in the early stages of the development of startups and a fall in the level of global financing of startups due to the unattractive investment climate in the global economic system. The need for assessing the factors in the formation of a new ecosystem for the development of startups by country, changes in the number of registered startups is emphasized. The leaders in the development of startups in the TOP-5 countries are identified, examples of highly rated startups in specific countries are provided and the main areas of their operation are determined. The trends towards the increase in the number of dismissals of IT workers in 2023 are systematized. It is found that such dismissals have a negative impact on the technological development of sectors and decrease the attractiveness of startups in innovative entrepreneurship. The global structure of startups by fields of activity and changes during 2022-2023 are analyzed, reductions in such industries as social networks and leisure, e-commerce and retail are detected. The main global trends in the development of startups and influencing factors in the development of startups are determined. It is concluded that in the conditions of global transformations there are negative changes in the development strategies of startups, the priority areas are the planning and improvement of business models, and not the growth strategies within the framework of increasing the profitability of foreign companies. [ABSTRACT FROM AUTHOR]

There are substantial differences in the entrepreneurship levels of different regions. Recent studies have shown that supply- and demand-side determinants fall short of explaining the level and type of entrepreneurship of a region, and have emphasized the critical role of region-specific institutional factors in regional entrepreneurship. This paper aims to contribute to understanding how region-specific institutions encourage or inhibit regional innovative entrepreneurship, concentrating particularly on the less studied normative and cultural-cognitive institutions. The study, based on face-to-face semi-structured in-depth interview data from four regions of Turkey with different innovative entrepreneurship patterns, reveals the significant role of normative institutions in defining different regional innovative entrepreneurship pathways, as well as those of some regulative and cultural-cognitive institutions. It highlights further that policies and regulations that alleviate bureaucratic procedures facilitate access to financial resources and strengthen coordination between local government agencies are encouraging regional entrepreneurship in general, while policies aimed at eliminating discrimination in society, supporting tolerance and openness, encouraging individual freedom and enhancing the skills and experience of entrepreneurs through new role models are critical for alleviating the disadvantages of regions and supporting innovative entrepreneurship. We contend that these policies are essential for improving the entrepreneurship environment and altering the perception of society regarding entrepreneurship. [ABSTRACT FROM AUTHOR]

Copyright of Istanbul Commerce University Journal of Social Sciences / İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi is the property of Istanbul Commerce University Journal of Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Book review: Anagnostopoulou D., Skiadas D. 2022. Higher Education and Research in the European Union. Mobility Schemes, Social Rights and Youth Policies. Springer. 344 p.

The article examines issues related to the state's activities in the field of innovation-oriented infrastructure development policy. In the field of innovative entrepreneurship, issues related to various forms of financing innovative projects, such forms of state support as legal, informational, political and other types of assistance are considered. The application of an institutional approach to creating a mechanism for managing structural changes in socio-economic systems in order to increase their resilience in the face of large-scale security challenges is also explored. The main component of such stress-resistance is the ability to create and implement innovations, the formation of innovation-oriented systems. Trends in structural changes in the economy of Ukraine, which have arisen under the influence of war, have been identified, and problems that could threaten resilience to security challenges have been highlighted. The need to transition to an innovation-oriented economy to restore the country's competitiveness in the post-war period is highlighted. In the short-term perspective, the state's strategic priority is the transition from a reproductive to an innovative type of development, which is accompanied by a change in the factors of economic growth and recognition of the ability of economic agents to quickly generate new ideas and their commercialization as the main determinant of business processes. At the same time, the need for effective institutional support to stimulate market participants to innovate has been proven. An institutional mechanism for managing the innovative development of socio-economic systems with the allocation of legislative and organizational support at various structural levels in order to realize the defined goals is proposed. The article analyzes the characteristic features of the innovation-oriented economy and establishes the influence of the state on its formation. The level of innovativeness of the Ukrainian economy was studied and compared with similar indicators of other countries of the world. A number of measures have been proposed to restructure the domestic economy with the aim of transforming it from a raw material-mining model of development to an innovation-oriented economy. [ABSTRACT FROM AUTHOR]

In this paper, we identify the patterns of change agency in peripheral regions and the forces shaping them. The following are the main research questions: (a) what are the patterns of local change agency like in peripheral regions and (b) what causes patterns of local change agency? We seek answers to these questions by carrying out a detailed analysis of trinity of change agency in Lapland, Finland. We show how the pattern of it evolves in time, and how, in a crisis, new modes of agency surface and key actors need to learn new ways of intervening. Change agents need to build confidence and mobilize resources, capabilities and power. The empirical study follows a longitudinal single case study design. The empirical data were based on 15 interviews of the national and local/regional development agencies as well as from firms and research/educational organizations. Additionally, the written material from the Internet, relevant journals, related newspaper articles and respective policy documents were analysed. The empirical analysis identifies the main phases of path development in Eastern Lapland, key actors in different phases and their agency. [ABSTRACT FROM AUTHOR]

Prior research shows that entrepreneurship enhances economic development. However, it is becoming increasingly evident that it is not the number of new startups that matter but rather their quality. This study investigates the effect of a comprehensive industrial policy intervention targeting innovative startups, i.e., the Italian Startup Act, on the composition of innovative entrepreneurs in terms of their human capital endowment. By decomposing the impact of lowering entry and growth barriers and by comparing the "before" and the "after" of the reform, we explore if the industrial policy has modified the composition of innovative entrepreneurs in terms of their human capital characteristics. The findings indicate that the reform, and in particular lowering growth barriers, was particularly able to push individuals with a relatively higher level of industry-specific, managerial, and entrepreneurial experience towards the creation of a new innovative venture. Overall, we show that a policy reform that decreases barriers to innovative entrepreneurship may attract entrepreneurs endowed with greater specific human capital than what occurred before the reform. Plain English Summary: The quality of entrepreneurship matters for economic development, and the good news is that industrial policy can affect it. Using micro-data on the human capital endowment of innovative entrepreneurs, and looking at the "before" and "after" of the Italian Startup Act, we show that this comprehensive industrial policy intervention had a beneficial effect on the quality of individuals pursuing an entrepreneurial career in innovative sectors. This beneficial effect is found to be more stimulated by the measures of the reform that aim at lowering growth barriers for startups and particularly associated to industry-specific, managerial, and entrepreneurial experience, where these characteristics of founders are deemed as important drivers of success for startups. Thus, the main implication of this study is that policy-makers can positively influence the quality, in terms of human capital endowment, of entrepreneurs who create an innovative company, with beneficial effects for the economic system. [ABSTRACT FROM AUTHOR]

Creativity is becoming an increasing source of competitiveness for countries’ economies in a global context. This has led to the need to develop a methodological instrumentarium for assessing and analyzing creativity as a system of innovative entrepreneurship in both global and local contexts. The article examines the essence of innovative entrepreneurship as a key element of the creative management system, which ensures its effectiveness and commercialization opportunities. The categories of «creative management» is defined as a type of management activity aimed at creating an appropriate socio-psychological climate in teams together with the adaptive innovation infrastructure that will ensure an efficient process of development, generation and implementation of innovations. A classification of types of creativity is carried out as follows: technological, economic, artistic, and cultural. The methods of evaluation along with international indicators for rankubg creative activity are considered in detail: Global Creativity Index; Creative Productivity Index; Global Innovation Index; Index of Creativity of Cities; Hong Kong Creative Index. The development issues of the creative economy are highlighted in international rankings in various aspects and depend on the goals and priorities of researchers, as well as the factors identified for analysis. However, all indices share the same conception of creating an ecosystem to encourage more creativity. The factors that form the structural elements of the creative ecosystem can include the following: human resources; innovative infrastructure; institutional and legal environment; creative results; social capital and the degree of tolerance. In combination, this powerful intangible interaction of factors generates a phenomenon of creativity, which manifests itself in social and economic effects, creates values for the business environment and serves as the basis for innovative development of countries in the long term. The directions of further research are the analysis and development on the basis of international rankings of methods for assessing and stimulating the manifestations of creativity at the macro and micro levels

During the time, entrepreneurship has brought many benefits (e.g., economic growth, employment generation, poverty reduction, innovations) to various stakeholders, such as society, communities, people, or companies As a multifaceted and eclectic concept, a policy area, and a complex and dynamic phenomenon, entrepreneurship displays a creative and innovative dimension. This assertion is based on the fact that entrepreneurship has three main functions: operating a firm, risk-taking, and innovation. The aims of the paper are to briefly define the concept of innovative entrepreneurship and to illustrate the case of Samsung Electronics Co., one of the world’s biggest electronics companies. In order to achieve these objectives, the authors used a quantitative research method and a case study. The paper provides the theoretical framework to deeper understand the concept of innovative entrepreneurship as the authors have designed a definition of this term. Also, it shows that innovative entrepreneurship is embedded in the business philosophy of Samsung Electronics.

Aims. The modern entrepreneurial ecosystem builds startups as companies that play a significant role in the business environment. Building the image of innovative entrepreneurs, who are increasingly perceived as paradigm changers, because of the way of thinking that through its creativity and enthusiasm changes the overall entrepreneurial environment. Materials and methods. Presentation of a brief overview of the literature review on the topic of startup companies and their modern vision. Results. A brief overview of current information about startup companies and their specifics. Conclusion. The development of innovation in doing business is not only due to increasing competition in local and global markets, but also as a result of the identification of trends. The concept of a startup includes a business vision in the field of innovation and high technology. Rapid growth is a key feature and unifying factor - the whole process from start-up through growth to startup development is extremely dynamic and limited in terms of time and compared to the pace at which small and medium-sized businesses are developing.

The content of the article actualizes a number of important issues as to provision of policy in the sphere of supporting innovative entrepreneurship. In the course of their study, the authors note that the socio-economic development of countries is influenced by the degree of innovativeness of the economy. This encourages to consider innovative entrepreneurship as an important resource for the development of innovative processes in the country, and the support of innovative entrepreneurship is considered a key factor in solving the main problems of sustainable socio-economic development of the regions of Ukraine. The country has a fairly strong base for scientific and technical developments, a powerful innovation potential, but there are problems with implementation of the latter due to insufficient focus on the formation of an effective innovative policy and the policy of development of small and medium-sized enterprises (SMEs), which are the main suppliers of innovations in the national innovation system. The results of the study draw attention to the feasibility of integrating innovative policies with the corporate social responsibility development policies and the SME development policies. An integration will allow achieving greater economic return and social benefits through the implementation of a more efficient relationship between the providers of socio-economic development of region on the organization and provision of opportunities for the development of complex regional, interregional and global value-creating networks. This approach also involves taking into account the factors influencing the innovation dynamics with the constant improvement of the system of formation and implementation of the State and regional priorities in the field of regulation of science, investment, innovation, entrepreneurial and socially responsible activities, in accordance with the implementation of the principles of sustainable development.

Innovative entrepreneurship is a key link in the transfer of innovation, which involves the movement of knowledge from the scientific sphere to the economic sphere in order to transform theoretical knowledge into new products and services that will have a positive effect in increasing social welfare. Innovative entrepreneurship functions in conditions of high turbulence of socio-economic processes, in particular changes in the institutional environment and the development of public administration in Ukraine. And there are certain external and internal restrictions in the process of development of innovative entrepreneurship and some of them are associated with inefficient financial management, which does not allow to create appropriate conditions for the intensification of innovative entrepreneurship. Financial planning is a main component of financial management of any business entity, and combines such elements as: analysis of current financial performance, definition of strategic financial objectives of the entity, development and implementation of the plan financial measures, analysis of the results of implementation of selected financial measures and their adjustment. The aim of the article is to study the methodology of financial planning of innovative entrepreneurship in the institutional environment and public administration, development of an integrated indicator of innovative entrepreneurship effectiveness and forecasting of financial efficiency using methods of economic and mathematical modeling. To conduct the research, empirical data were obtained from the State Statistics Service of Ukraine. The specified data characterize the innovative entrepreneurial activity, the economic efficiency of innovation for the period from 2015 to 2020. The collected data made it possible to build a forecast that allows to identify possible changes in the financial efficiency of entrepreneurship, in particular, helps to develop alternative measures. A parabolic trend is used for building a predictive model. The methodology of financial planning of subjects of innovative entrepreneurship in the system of institutional environment and public administration, development of an integrated indicator of effectiveness of innovative entrepreneurship and implementation of financial efficiency forecasting using the built economic and mathematical models was analyzed. Analysis of the integrated performance indicator of innovative entrepreneurship indicates that performance is characterized by significant fluctuations. The indicators calculated with the help of economic and mathematical models indicate the positive dynamics of the volume of sold innovative products. Also, positive dynamics is observed in revenues from innovation changes. The indicators calculated using economic and mathematical models indicate positive dynamics of the volume of implemented innovative products, which will amount to 1883.35 million € in 2021 and 2560.34 million € in 2022. Positive dynamics are also observed in the income from innovation activity, so the forecast value in 2021 is 1335.08 million €, and in 2022 - 2016.77 million €. According to forecast data, the profitability index of innovative products in 2021 is 2.63, and in 2022 - 3.71. Assessing the effectiveness of innovation, it is proposed to use an integrated indicator, which was built on the several components. Analysis of the dynamics of the integrated performance indicator for the period 2015 - 2020 reveals significant fluctuations, but since 2019 the effectiveness of innovative entrepreneurship is growing. [ABSTRACT FROM AUTHOR]

The fundamental processes of innovation of the global economic system and the dynamic development of industry 4.0 put forward among the strategic priorities of economic development of Ukraine the development of domestic innovative entrepreneurship as one of the main tools for the inclusion of Ukrainian companies in the global value chains. Systemic development of innovative entrepreneurship implies both maximum mobilization of the national scientific and technical resource and its deep integration into European innovation networks. Study of the system of factors related to the development of innovative entrepreneurship on the GDP of Ukraine, and justification of the key directions of its development based on the implementation of tools and mechanisms provided by the Association Agreement between Ukraine and the European Union. An integrated methodological approach based on the use of general scientific and special methods of scientific research, primarily economic and mathematical modelling and extrapolation, as well as statistical and graphical methods in the processing and synthesis of statistical data and their reflection. The conducted econometric analysis showed that the most significant impact on GDP is exerted by such factors of development of innovative entrepreneurship as total expenditures in the areas of innovation, research and development, purchase of machines and equipment and software, introduction of innovative products, investment in fixed capital. Full-scale implementation of the tools for the development of innovative entrepreneurship, laid down in the Association Agreement between Ukraine and the European Union, will ensure the dynamic spread in the Ukrainian economy of new forms of research and development (R & d), large-scale implementation of their results in economic practice, as well as the intensification of international technological transfer of domestic economic entities. [ABSTRACT FROM AUTHOR]

The regulatory policy of entrepreneurship development is aimed at creating favorable conditions for increasing competitiveness and the role of entrepreneurship in the economic system by applying a set of state regulatory measures aimed at improving the quality of public administration through the formation of a legislative space for the successful functioning and development of entrepreneurship, which, in turn, acts as a dominant economic security of the national economy. The purpose of this article is to study the influence of the regulatory policy of entrepreneurship development on ensuring the economic security of the national economy by determining the level of development of innovative entrepreneurship in the region. An analysis of the state of entrepreneurship in Ukraine was carried out, on the basis of which the main development trends, factors that influenced their formation, as well as directions for improving regulatory policy in the context of ensuring economic security of national security were determined. It has been proven that the focus of entrepreneurial structures on innovative activities will contribute to increasing competitiveness and profitability, which in turn will improve the life of the population, strengthen the economic position of the middle class, and therefore ensure the economic security of the national economy. Within the framework of the article, a methodical approach to the assessment of the development of innovative entrepreneurship in the regions of Ukraine is proposed, which makes it possible to carry out methodologically correct comparisons of the levels of development of the regions at the meso-level both by the complex indicator and by its individual components. The authors grouped and ranked the regions according to a comprehensive indicator and identified the leading regions, regions with an average level of development of innovative entrepreneurship, and outsider regions. Recommendations for overcoming the identified disparities are provided. [ABSTRACT FROM AUTHOR]

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We explore the relevance of two different views on new product development (NPD) drivers, defined as "advantage of youth" and "business acumen." The two arguments, that establish a negative relationship between an individual's age and NPD and a positive impact of professional experience on NPD, are theoretically contextualized and empirically tested in the entrepreneurship domain. Considering a sample of more than 4000 Italian entrepreneurs of innovative start‐ups, a series of econometric analyses confirm that both effects apply and reveal interesting nuances as to the relevance of the age effect and the relative importance of different dimensions of entrepreneurs' business acumen on NPD. Further additional analyses highlight how both the "advantage of youth" and "business acumen" do not necessarily lead to successful entrepreneurial NPD, but at the same time, they both are found to importantly characterize top performers among entrepreneurs engaging in NPD. Overall, this in‐depth analysis on entrepreneurial NPD and its drivers underlies the importance of a micro‐founded and individual‐based approach in the study of new product dynamics, and in doing so, it contributes to enrich the upper echelons perspective and related frameworks on innovation outcomes through entrepreneurship. By theorizing and documenting those personal demographic and human capital traits which are mostly associated with entrepreneurial NPD, a series of interesting implications quite naturally descend for several stakeholders: (prospective) entrepreneurs, managers who aim at nurturing an intrapreneurship culture within their companies and policy makers interested in increasing dynamic efficiency in the economic system through the launch of new products and services. [ABSTRACT FROM AUTHOR]

Innovative entrepreneurship is one of the key drivers of economic development particularly for less developed economies where the economic growth is at the forefront of policymakers' agenda. Yet, the research on how various factors at different levels interact and bring about innovative entrepreneurship in emerging and developing countries remains relatively scarce. We address this issue by developing a multilevel framework that explains how entrepreneurial competencies attenuate the negative impact of innovation barriers. Our analysis on a sample of individuals from 24 economies, 17 developing and 7 emerging countries, reveals that entrepreneurial competencies become more instrumental for innovative entrepreneurship when general, supply-side, and demand-side innovation barriers are higher. The findings offer unique insights to policymakers particularly in developing countries interested in promoting innovative entrepreneurship and to entrepreneurs and investors seeking to establish and support innovative ventures. [ABSTRACT FROM AUTHOR]

The article examines the theory and practice of using intellectual capital as a source of development and formation of competitive advantages of entrepreneurial structures. The relevance of the study is associated with the overall increasing degree of use of intangible benefits that have a huge potential for growth and transformation. It can also be noted that against the background of the exhaustion of the resource model of development, intellectual capital is becoming an intensive growth factor. The aim of the study is to determine the possibilities for the development of entrepreneurial structures through the use of intellectual capital, as well as to identify the risks associated with intellectual entrepreneurial activity. The methodological basis of the study is the scientific works of famous scientists in the field of the knowledge economy, intellectual capital, digital economy, as well as the authors’ own early research. The main research methods were the methods of logical analysis, generalization, structuring, as well as the method of heat maps as a quantitative and qualitative method for assessing the risks of using intellectual capital, supplemented by expert and statistical methods. The empirical base of the study was data from open information resources, analytical agencies, and statistical materials. The subject of the research is the economic relations arising in the process of formation and use of intellectual capital by entrepreneurial structures. Particular attention in the article is paid to the theoretical and practical aspects of embedding the risk management methodology — ERM (Enterprise Risk Management) into the system of strategic management of intellectual capital, identification of the «red flags» of the organization’s business processes. The novelty of the presented research lies in determining the expanded structure of intellectual capital, the advantages of using intellectual capital for business structures, and highlighting the main stages of risk-based management of intellectual capital. The practical application of a risk-based approach to intellectual capital management is illustrated by the construction of a heat map of risks, which allows highlighting the most significant risks associated with the formation of employee competencies, stable trust relationships between the entrepreneurial structure, its counterparties and investors, and the state. As conclusions and recommendations, the authors present the directions of increasing the competitive advantages of a large entrepreneurial structure by integrating intellectual capital management processes into the development strategy and levelling the risks of its use.

The creation, financing, and use of higher-level technologies are of great importance in the economic growth of the national economy. Under these conditions, the task of forming and developing the national innovation system and solving the problem of increasing the regulation of the activities of domestic innovative business structures is of fundamental importance in Ukraine. The article substantiates that the lack of a balanced state policy restrains the process of developing a network of innovative infrastructures, and the low level of domestic investments and budget allocations for science, the current criteria for classifying business entities as innovative-type enterprises, non-designated applications, and the termination of benefits to innovative enterprises negatively affect the formation of the national innovation system of Ukraine. The regulation of the development of innovative enterprises is considered as a separate component of the general system of managing the innovative development of the economy, aimed at supporting its innovation-priority areas by creating an effective legislative framework and an appropriate financial and credit mechanism. The article formulates the principles of improving the organizational, economic and information support of the process of regulation of the national innovation system; the peculiarities of the separation and interconnection of the main elements in the scheme of the phased implementation of the system of regulating the development of innovative entrepreneurship in Ukraine are determined. A scheme for the phased implementation of the program of financial and credit regulation of the development of innovative entrepreneurship in Ukraine is proposed, as well as a scheme for improving the development of the national innovation system in the context of the implementation of the goals, objectives, and tasks of the innovative development of the Ukrainian economy.

The fundamental processes of innovation of the global economic system and the dynamic development of industry 4.0 put forward among the strategic priorities of economic development of Ukraine the development of domestic innovative entrepreneurship as one of the main tools for the inclusion of Ukrainian companies in the global value chains. Systemic development of innovative entrepreneurship implies both maximum mobilization of the national scientific and technical resource and its deep integration into European innovation networks. Study of the system of factors related to the development of innovative entrepreneurship on the GDP of Ukraine, and justification of the key directions of its development based on the implementation of tools and mechanisms provided by the Association Agreement between Ukraine and the European Union. An integrated methodological approach based on the use of general scientific and special methods of scientific research, primarily economic and mathematical modelling and extrapolation, as well as statistical and graphical methods in the processing and synthesis of statistical data and their reflection. The conducted econometric analysis showed that the most significant impact on GDP is exerted by such factors of development of innovative entrepreneurship as total expenditures in the areas of innovation, research and development, purchase of machines and equipment and software, introduction of innovative products, investment in fixed capital. Full-scale implementation of the tools for the development of innovative entrepreneurship, laid down in the Association Agreement between Ukraine and the European Union, will ensure the dynamic spread in the Ukrainian economy of new forms of research and development (R & d), large-scale implementation of their results in economic practice, as well as the intensification of international technological transfer of domestic economic entities.