Abstract
This paper provides a brief overview of some of the problems encountered in promoting and supporting innovation in developing and transitional economies. A number of reflections on the nature of ‘innovation’ are made, followed by some considerations on innovation in the context of enterprises in general and small enterprises in particular. The impact of innovative entrepreneurship in the context of economic development is examined, as are the specific needs of developing and transitional economies (DTEs). An outline of the operation of Business and Innovation Centres (an economic development instrument initiated by the European Commission specifically for assisting innovative entrepreneurship in Europe's DTEs) is presented, along with a sample of achievements of such centres. The conclusion suggests guidelines which might enhance the pace of economic development in DTEs.
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