Diversification of Access to Finance Mechanisms as a Tool to Empower Innovation and Entrepreneurship

Session

Management, Business and Economics

Description

There is evidence that innovative and entrepreneurial start-ups play a critical role and are a strong economic and social development factor towards a knowledge-based society. Start-ups help societies to commercialise existing research output with the aim of introducing creative solutions in addressing different needs and societal problems. To this day, the Kosovo start-up ecosystem is still underdeveloped, offers limited access to finance, weak market-access links, in-existent venture-capital funding, and limited angel investment opportunities. Thus, supporting start-ups by diversifying access to finance mechanisms and instruments is essential to enable the success of such ventures with the potential of significant contribution to the long-term economic progress.

Therefore, empowering existing structures or instituting new mechanisms contributing to the stability, facilitation of successful start-up ecosystem and growth of start-ups does undoubtedly contribute to the favourability of innovation, new business formation, and entrepreneurship driven by a higher survival rate and business growth (scale-up). Such a setting is also differently also known as a “start-up ecosystem”, wherefrom entrepreneurs’ and start-ups’ growth potentials are positively affected.

Keywords:

innovation; entrepreneurship, start-up ecosystem, economic progress, knowledge-based society

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-550-50-5

Location

UBT Kampus, Lipjan

Start Date

29-10-2022 12:00 AM

End Date

30-10-2022 12:00 AM

DOI

10.33107/ubt-ic.2022.431

This document is currently not available here.

Share

COinS
 
Oct 29th, 12:00 AM Oct 30th, 12:00 AM

Diversification of Access to Finance Mechanisms as a Tool to Empower Innovation and Entrepreneurship

UBT Kampus, Lipjan

There is evidence that innovative and entrepreneurial start-ups play a critical role and are a strong economic and social development factor towards a knowledge-based society. Start-ups help societies to commercialise existing research output with the aim of introducing creative solutions in addressing different needs and societal problems. To this day, the Kosovo start-up ecosystem is still underdeveloped, offers limited access to finance, weak market-access links, in-existent venture-capital funding, and limited angel investment opportunities. Thus, supporting start-ups by diversifying access to finance mechanisms and instruments is essential to enable the success of such ventures with the potential of significant contribution to the long-term economic progress.

Therefore, empowering existing structures or instituting new mechanisms contributing to the stability, facilitation of successful start-up ecosystem and growth of start-ups does undoubtedly contribute to the favourability of innovation, new business formation, and entrepreneurship driven by a higher survival rate and business growth (scale-up). Such a setting is also differently also known as a “start-up ecosystem”, wherefrom entrepreneurs’ and start-ups’ growth potentials are positively affected.