Table of Contents




1. Summary

2. The Financing of Innovation Research Program

3. Innovation, Entrepreneurship, and Prosperity
Innovation as an increasingly important engine of growth
Challenges of innovation policy and innovation systems
Fundamental information and incentive problems
Capital, competence, and institutions

4. Financial Capital and Innovation
The capital market for innovative start-ups
The effectiveness of government support schemes
Government loans for innovation
Is financing a major problem for innovation?

5. Competencies and Innovation
Competence, innovation, and growth
A shortage of competence
Consequences of the competence shortage
Clarifying the societal role of universities

6. Institutions and Innovation
The critical importance of institutions
A growing regulatory burden
Taxes on entrepreneurship and risk taking
Legal aspects of innovation and entrepreneurship
The role of private enterprise in society
A need for reforms

7. Conclusions and Recommendations

8. References


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