Entrepreneurial innovation

Article added on 1 July 2013

Something to be conscious about, Entrepreneurs are more and more fighting citizens for growth.

Entrepreneurial innovation

This Spring, Accenture teamed up with the Young Entrepreneurs’ Alliance on a comprehensive research effort on entrepreneurial innovation in the G20 countries, with an emphasis on new technologies.


Five key findings emerged from their research:

  • Every entrepreneur is a digital  entrepreneur
  • Entrepreneurs are the catalyst for innovation and economic growth
  • Emerging markets are challenging developed economies as the leading source of entrepreneurial innovation
  • Entrepreneurs are ready to shift attitude toward more collaboration with large companies
  • Technology clusters, inspired by Silicon Valley, can provide a vital ecosystem for entrepreneurial success.


Inspearit who participated in the survey is happy to share strong points of that study that you may download from the site. (clik here to download).


Although the United States is seen as the most innovative country in the next two years, China and India are considered the second and third most innovative, respectively, clearly on their way to become the technology powerhouses of the future. The proportion of emerging market entrepreneurs applying mobile, social, data analytics and machine-to-machine technologies in their business is higher than in mature economies, according to the survey.

Entrepreneurs see their strong contribution to economic growth increasingly dependent on working with larger businesses.


Among large companies which have developed collaborations with entrepreneurs, multiple different ways have been tested: for example, corporate venturing (nearly half of 100 leading international companies we analyzed have developed a formal corporate venture policy), mentoring, joint innovation, support to access markets, training and coaching, and joint involvement in local community development or technology clusters.


Technology-driven innovation is a strategic priority for entrepreneurs who were interviewed  in the survey that was conducted in the G20 countries: seventy eight percent indicated that innovation is one of their top priorities, with about one-fourth reporting it is their number one priority.

 

Technology innovation will benefit entrepreneurs both in revenue generation and productivity gains (%).

innovation


As our Entrepreneurial Innovation survey revealed, a very large majority of entrepreneurs are optimistic about their ability to drive growth and job creation in the coming years, whether based in mature or emerging markets. Entrepreneurs we interviewed are ready to play a key role in reinvigorating growth and job creation in the G20 countries. Through their relentless investment in innovation, they create new products, new services, and new innovative business models—and do so at a scale and speed that is unprecedented in recent decades.

It is at least encouraging to watch these positive signals!