Government Intervention For R D And Entrepreneurship

Government Intervention To Promote RD And Innovation In Small Medium Businesses Summary – SBIR Policy The societies in the world are facing severe social and economic challenges. The 2008-09 downturn in the economy has led to lessened potential growth output, rise in unemployment and soaring public debt. To recover from this, it was necessary that the nations come up with sustainable growth sources. The search for new sources comes to an end when the countries have adopted a productivity growth infused with innovation. Innovation is the introduction of a significantly and newly improved product, method or process. It holds the access to boost productivity. All change contains a degree of novelty. (Glaister, 1996) The Oslo Manual gives account for three types of innovation. An innovation can be novel to the firm, novel to the market or novel to the world itself. The first type includes the circulation of the present innovation in the business. It is when the innovation has already for use in other companies. The change becomes new to the market when the firm is the first to introdu ce it to the market. An enormous range of factors like economy, government service, education or health, therefore, affects innovation. It can occur in any sector of the economy. (www.aaas.org) The current framework applies to change in business and sometimes in the public sector. The paper discusses innovation in the public sector in small-scale industries. The macroeconomic policies affect theShow MoreRelatedInternational Trade : The United States1461 Words   |  6 PagesIntroduction In the recent years, business become more larger due to the advancement of technology, a renewed enthusiasm for entrepreneurship and a global sentiment that favors international trade to connect people, business and market. 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