Abstract
The goal of this study is to identify the problems and barriers that impede the growth and development of small and medium innovative enterprises (innovative SMEs) and suggest ways to overcome them. The main methods of the study include a survey of the founders of innovative companies from Russia and Belarus, as well as expert interviews. The study involved both mature companies and startups. The results of the study indicate that most innovative companies lack personnel with the necessary education and experience. At the same time, the number of researchers is decreasing, and external part-timers are being involved to carry out the research. The innovative activities in the countries under study remain low. The main barriers to the growth of this indicator include the lack of financial resources, the difficulties with raising external financing, as well as the shortage of the professional personnel. A set of measures to financially encourage researchers and tax incentives for innovative entrepreneurship are proposed as the main incentives to increasing the innovative activities.
Highlights
There has been an increase in investment in innovation worldwide in recent years; the use of intellectual property has reached record levels (The Global Innovation Index 2019)
According to Eurostat, R&D expenses increased by 53.5 % in the EU member states, by 65 % in the US, and almost 2.9 times in South Korea for 2009 – 2017 (Eurostat, 2020a)
The trends based on the opinions and intentions of the population and the heads of SMEs, describing the dynamics and scale of innovative processes, factors constraining innovative activities, and barriers to the development of innovative entrepreneurship have been revealed in the course of a specially organized market observation
Summary
There has been an increase in investment in innovation worldwide in recent years; the use of intellectual property has reached record levels (The Global Innovation Index 2019). According to Eurostat, R&D expenses increased by 53.5 % in the EU member states, by 65 % in the US, and almost 2.9 times in South Korea for 2009 – 2017 (Eurostat, 2020a). Most of the global R&D expenses were in the business sector. The share of private sector investment in R&D amounted to 61.2 % of the total R&D expenses in the EU member states, 73 % in the US, 78.8 % in Japan, and 79.4 % in South Korea in 2017. The business sector of the EU member states (27) accounts for 66.4 % of the total domestic R&D expenses (Eurostat, 2020b). The European business sector employs 51.3 % of the total R&D personnel (Eurostat, 2020c)
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
