Knowledge for better business
Europe's growing knowledge economy is adding an important competitive edge to the continent's businesses over those of other parts of the world. One area supporting the phenomenon is knowledge-based entrepreneurship (KBE). The EU-funded project 'Knowledge-based entrepreneurship: innovation, networks ans systems' (KEINS) investigated start-up entrepreneurship, corporate entrepreneurship and academic entrepreneurship. It reworked KBE concepts, studied their links with innovation and outlined policy recommendations after examining the role of networks, information exchange, academic inventors and social ties. KEINS analysed the relevance, features, academic settings and developments of KBE in Europe, with a focus on biotechnology, electronics and manufacturing among others. It produced significant insight on the context in which entrepreneurs operate, which could prove very useful for policy decision makers. The project employed various methodologies including literature reviews, case studies on specific sectors, comparative analyses and quantitative analyses. This approach has helped articulate the role of science, technology, innovation and institutions in supporting entrepreneurship. KEINS also pioneered a new way to exploit patent data from information about individual inventors and patent applicants, shedding more light on academic entrepreneurship and networks of research. In effect, KEINS examined entrepreneurship through knowledge, learning activities, business networks and institutions. It defined entrepreneurship through the creation of new firms, new small business technologies, and pooled resources of academic scientists. Armed with valuable results from these in-depth studies, KEINS supported policymaking to boost innovation and competition. It studied the effects of research and technology networks on KBE and explored their impact in an unprecedented manner. The project also outlined how national innovation systems or regional systems affect KBE. These studies, results and recommendations can lead to a stronger European Research Area (ERA) and bring Europe closer to its objective of a strong knowledge-based economy. They will also help foster innovation in new businesses bringing with it countless benefits for the economy and industry.
