Exploring the Relationship Between Entrepreneurship, Innovation and Economic Progress: A Case of India with Evidences from GEM Data and World Bank Enterprise Surveys
Published: 2014
Author(s) Name: Arup Kumar Baksi |
Author(s) Affiliation: Asst. Prof., Dept. of Mgt. Science, Bengal Institute of Technology & Mgt., West Bengal, India
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Abstract
Nations all across the globe are engaged in identifying the
factors deterministic of economic serge, which is reflective
of contemporary domain of economics. Entrepreneurial
ventures using technological innovations have emerged
as a pivotal growth indicator in developing nations like
India, though there has been a dearth of extensive
studies on the impact of technology-based innovations in
new venture creation and its subsequent contribution to
economic growth and progress of a nation. This paper
used the Global Entrepreneurship Monitor (GEM) data
alongwith World Bank Enterprise surveys (2006) to
explore the probable link between entrepreneurship,
innovation and economic progress pertaining to
Indian context. The entrepreneurship measures were
concentrated on Total Entrepreneurship Activity (TEA)
data and its subcomponents. The findings were in line
with the literature reviewed as both overall and necessity
driven TEA accounted for growth in GDP as a mark of
economic progress. Technological innovation was found
to be a significant input to economic growth.
Keywords: Economic Progress, Venture
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