Page 19 - UNIT 2.2 ENTREPRENEURSHIP SKILLS - abilities & skills in healtcare

CikguOnline
CikguOnline
TYPES OF ENTREPRENEURSHIP

3. Knowledge Based

The stage of development in company life is the next factor

determining innovation.

New entrant firms tend to present the highest probability of innovation

and the oldest companies the lowest (Huergo and Jaumandreu, 2004).

This entrepreneurship generated by industry R&D, university R&D and

skilled labour (Audretsch and Feldman, 1996)

Generate new knowledge, which can lead to both product and

process innovation. The knowledge which constitutes the basis of

innovation can then be utilised by both newly created and existing

firms.

*Research & Development (R&D)