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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
[journal article]

Fidrya, Yefim; Levina, Roza S.

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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 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.
Keywords Baltic region; innovation; new technology; high technology; communication technology; small business; medium-sized firm; innovation potential; biotechnology; market; European cooperation; promotion of economic development; EU
Classification Area Development Planning, Regional Research; Economic Sectors
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
ISSN 2079-8555
Status Postprint; peer reviewed
Licence Free Digital Peer Publishing Licence