Entrepreneurs and SMEs

Paper Summary:

This paper explains that most of the entrepreneurs and the SMEs (small and medium enterprises) today, in Europe and the United States, are start-ups that have their beginnings in universities. The paper points out that governments are now encouraging arrangements between universities and industries because they see service to the industrial world and to society as being part of the university mission. The paper also stresses that, by combining the knowledge found in universities and the financial support of large industries, new businesses and new innovations are creating wealth and more jobs. However, hard work is required for entrepreneurs and SMEs to produce good outcomes.

From the Paper:

"Recently, entrepreneurship has been seen to be one of the key driving forces for economic development and growth since it is able to provide literally millions of opportunities for jobs. It also helps to offer a large variety of goods and services to consumers and in general helps to increase the prosperity and competitiveness in a nation. However, there is also a lot of debate on the technical knowledge transfer that takes place from universities to industries and on how these universities can continue to support the economic and technological development of countries."

Sample of Sources Used:

• Bird Schoonhoven, C., Eisenhardt, K. M., & Lyman, K. (1990). Speeding product to market: waiting time to first product introductions in new firms. ASQ, 35, 177-207.
• Chrisman, J.J., Hynes, T., & Fraser, S. (1995). Faculty entrepreneurship and economic development: the case of the University of Calgary. Journal of Business Venturing, 10(4): 267-281.
• Clarysse, B., Degroof, J. J., & Heirman, A. (2001). Analysis of the typical growth path of technology-based companies in life sciences and information technology, and the role of different sources of innovation financing. Brussels: European Commission, Entreprise Directorate-General.
• Collinson, S. & Gregson, G. (2003). Knowledge networks for new technology-based firms: an international comparison of local entrepreneurship promotion. R & D Management, 33(2): 189-208.
• Cooper, A. C. (1995). Challenges in predicting new venture performance. In: I. Bull, H. Thomas and G. Willard (Eds.) Entrepreneurship: Perspectives on Theory Building. London, Elsevier Science Ltd.

More papers on Entrepreneurs and SMEs:

• Research Paper # 147112 : "Barriers to Entrepreneurship and SME Growth"
• Research Paper # 150282 : "Factors Affecting SME Performance"
• Research Proposal # 111644 : "Small Business Growth"

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