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The prospects of entrepreneurship in the formation of new hi-tech markets in the Baltic Sea region
Perspektivy predprinimatel'stva v formirovanii novyh rynkov vysokotehnologichnoj produkcii v regione Baltijskogo morja
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Abstract The article offers an analytical review of the prospects for the formation of new hi-tech markets in the Baltic Sea region with the participation of small and medium businesses. In view of the essential features of entrepreneurship, its prospects in the development and implementation of innovations ... view more
The article offers an analytical review of the prospects for the formation of new hi-tech markets in the Baltic Sea region with the participation of small and medium businesses. In view of the essential features of entrepreneurship, its prospects in the development and implementation of innovations seem to be quite attractive. However, in the current economic context, growth requires special measures. The authors analyse the measures taken by the European Union and individual countries in order to strengthen the participation of small and medium business in R&D and innovation, describe conditions which are necessary for unlocking innovative potential, identify new industries that might become drivers of innovative economy in Europe. The authors also offer a country-specific list of basic markets, which can be developed by small and medium enterprises in a short-term perspective. In the structure of the Baltic Sea region a special position is held by the Nordic countries - Sweden, Norway, Denmark, and Finland - major regional innovators, as well as a group of South-eastern regions that serve as innovation consumers. Best hopes rest with information and communications technologies and biotechnologies, which are expected to become the centre of major clusters of small and medium enterprises.... view less
Keywords
EU; medium-sized firm; market; innovation; high technology; new technology; European cooperation; small business; Baltic region; communication technology; biotechnology; promotion of economic development; innovation potential
Classification
Economic Sectors
Area Development Planning, Regional Research
Free Keywords
new markets; hi-tech products; Baltic Sea region
Document language
English
Publication Year
2012
Page/Pages
p. 29-35
Journal
Baltic Region (2012) 4
Issue topic
Innovation
DOI
https://doi.org/10.5922/2079-8555-2012-4-3
ISSN
2079-8555
Status
Postprint; peer reviewed