Innovation

Innovation improve the prospects of the poorest in countries.

At a time when policy makers are pooling efforts to restore growth and overcome the global economic and financial crisis, specific attention has been focused on innovative entrepreneurship, as it can play an important role in contributing to economic growth, job creation and poverty reduction, and can help address key social challenges.

The development of innovation financing mechanisms such as seed funding, angel and venture investing is a key component of the ecosystem, as well as facilities and training to support the investment-readiness of entrepreneurs. This encompasses enablers that build capacity and networks for entrepreneurs and SMEs, such as accelerators, incubators, innovation centers and clusters, and governmental interventions such as indirect and direct subsidies to innovation and R&D investments. We codify lessons from past projects and operations and initiate evidence-based pilots to test new approaches.