Analysis of How Green Growth and Entrepreneurship Affect Sustainable Development: Application of the Quintuple Helix Innovation Model in the African Context

Abstract

The global energy transformation is moving forward slowly, along with the continent of Africa. Although the momentum developed thus far is encouraging, there is an increasing need for transformative solutions to lessen climate change and its effects on the continent. In this article, we analyze the connection between green growth, entrepreneurship, and their effects on sustainable development in South Africa using the Quintuple Helix Innovation Model (QHIM). Hence, the purpose of the study is to foster the need for entrepreneurship and green growth for sustainable development. The quintuple helix model’s (QHIM) theoretical premise that the natural environment of society and the economy are the two fundamental factors behind innovation and the understanding that a knowledge economy requires sustainable growth are mainly supported by our findings. We accomplish this study by determining which entrepreneurial and green growth dimensions should be prioritized, respectively. Using ordinary least squares (OLS) and generalized linear model (GLM) we examine the association. We measured green growth with two main indicators which are environmental resource productivity and natural capital. Entrepreneurship was measured using entrepreneurial activity and entrepreneurial attitudes. Our findings revealed that more attention needs to be geared towards natural capital and entrepreneurial activity in South Africa. Decision-makers and the government will utilize the study’s findings as a guide for the zealous implementation of stated policies; recommendations are also highlighted in this study.