SMEs, Entrepreneurship and Innovation

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Small firms are playing an ever-increasing role in innovation, driven by changes in technologies and markets. Some spin-offs and high growth firms are having remarkable success. However, the broad bulk of small firms are not capitalising on their advantages. This book explores how government policy can boost innovation by improving the environment for entrepreneurship and small firm development and increasing the innovative capacities of enterprises. Policy findings and recommendations are presented in three key areas: embedding firms in knowledge flows; developing entrepreneurship skills; and social entrepreneurship.  In addition, country notes present statistics and policy data on SMEs, entrepreneurship and innovation for 40 economies, including OECD countries, Brazil, China, Estonia, Indonesia, Israel, the Russian Federation, Slovenia and South Africa.

SMEs, Entrepreneurship and Innovation is part of the OECD Innovation Strategy, a comprehensive policy strategy to harness innovation for stronger and more sustainable growth and development, and to address the key global challenges of the 21st century.



The Torch Programme was established in 1988 by the Chinese central government and is administered by the Ministry of Science and Technology. One of the main activities of The Torch Programme is to certify high-tech projects, products or companies and provide them with financial and policy support. By the end of 2005, 13 222 industrial projects had been certified and supported by the programme. In 2005, government at all levels only accounted for 1.2% of the project funding, bank loans accounted for 22%, and enterprises’ own capital accounted for the majority of project funding, i.e. 74.5%.


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