Kauffman Foundation. innovative entrepreneurship.In a previous post in March 2009, I noted that the Ewing Marion Kauffman Foundation identifies two types that they call replicative and innovative entrepreneurship.

Most livelihood-oriented entrepreneurship is replicative. The one that the Kauffman Foundation is supporting is innovative entrepreneurship.

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Many are working, including many friends, to promote entrepreneurship mainly as a means of providing livelihood but not as a means for helping attain growth in national development. The set of policies for each direction is different.

Innovative entrepreneurship is more focused on technology and new business models, It has helped in building sustainable growth in South Korea, Taiwan, and lately China.

It is more complex to set up and requires modern industrial policy including strong linkages between industry, research universities, and government.

The Kauffman Foundation is a big supporter of innovative entrepreneurship that stream out of MIT and Stanford University.

Can a crowding out be avoided through policies that support innovative entrepreneurship?
The Philippines is de facto engaged in industrial policy though not of the most current version (IP v4.0) given in the brief history I gave in the post Industrial Policy Wears Many Guises in America from Alexander Hamilton.

Below, I propose a way to set the foundation for inclusive development with a program that supports opportunity-seeking in innovative entrepreneurship.

At its core, the proposal provides incentives to two constituencies.

First, the same Filipino capitalists above must be encouraged to do research to commercialize critical areas in their core business. Linkages between local manufacturers and exporters must be developed including innovative networks and business models like cluster facilities.

As I have hinted in an early post, Crisis as Opportunity for Tycoons to be Teachers, many of the capitalists can be asked to make parallel university-based research as precondition or participating in public-private partnerships in infrastructure.

Second, small and medium enterprises at the industry level (in the meso-economy) must be encouraged to improve their products and processes for entry into the local and export markets directly and with such techniques as common service facilities, industry clusters. technology incubators.

For the two constituencies above, applications and research projects done on a profit-oriented, learning-by-doing basis can include:In keeping with Professor Dani Rodrik’s recipe under modern industrial policy in the post linked above, these incentives must be direct support to “new,” discovered locomotives as above.

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This way a competitive fortress economy capable of sustainable growth from high value-adding potential is built because based on full consideration of input-output linkages is achieved.

Nice writeup