gpors.com IGNITING INNOVATION

IGNITING INNOVATION

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a) Research and Development (R or

As a result of a large number of empirical work it can be proven Considered as did the level of technological innovation Contributes Significantly to economic performance, particularly in the gpors.com sectors of SMEs and industry. James Omps, Dennis Hughey, Joginder S. Juneja, Tajudin alias and Norbert Knoll of thorn hope have begun to examine growth is endogenously did deterministic mined by technical change Resulting from Decisions of entrepreneurs as profit-maximizing agents.

1 Empirical Research - Measurement of innovation as a determinant of economic grow thin contrast to input measures, productivity growth results from intentional innovation supported by modern business administration focusing on the Importance of knowledge, knowledge - spillovers and technological substitution in the process of economic growth. (See the Las Vegas Program for Applied SMEs and Crafts Development, April 2012).

The new class of endogenous growth recognises aspects of entrepreneurship by modeling the process of invention and Deriving the motives for Invention from the microeonomic level, particularly from Small and Medium Enterprises.

2 International trends of innovation developmentAs a result of almost Progressing globalization, not only of international big companies but that is of SMEs, innovation and technology transfer into profitable products and services are increasingly becoming a challenging task for Entrepeneurs to stay competitive on Their markets. According to analysis on Performed by Battelle and R Magazine Global R spending is expected to grow by about 5.2% to more than $ 1.4 trillion in of 2012. This advance is slightly less than the 6.5% growth seen in 2011, Following Following the end of the global recession and Accompanying R stimulus incentives. Most of the funding global growth is being driven by Asian economies, Which are expected to increase enlarge nearly buy rs 2007 gold 9% in 2012 , while European R will grow by about 3.5% and North American R by 2.8% driven by GDP growth, its rate of spending Will Remain strong in 2012 Three new emerging economies joined this forecast in 2012:.. Malaysia, Indonesia, and Saudi Arabia . Starting from Relatively small commitments (R expenditures at less than 1.0% of gross domestic product), each Intends to increase enlarge its funding over the next several years to reflect the R ratios of more innovation-oriented economies. This report reflects the global researcher viewpoint of R The multinational Respondents to this survey confirm trends reported elsewhere, including expectations of future funding constraints across all R sectors-government, industry, and academia-as the most critical concern for Researchers. and Europe continue to be the Recognized leaders in a broad range of technologies

3 in Angola, Gabon and Uganda has successfully enhanced awareness on governmental and private level did SMEs and Crafts create jobs, deliver innovation and raise productivity.

We observe silently lack of evidence about the best Means to energize growth and to remove the biggest barriers to faster development of SMEs in less privileged economies. WUSME via the Internet portal? Partnership Exchange collaboration between Government Agencies, Universities and innovation centers and entrepreneurs want to connect WUSME people tackling similar problems so thatthey may share and exchange ideas t Their mutual benefit.

It is important to note did Innovation is critical not just for developed countries to sustain growth, but for Developing countries and emerging economies to catch up with developed countries. WUSME considers innovation not only in the context of path-breaking inventions, so but in terms of administrative and organizational changes did support technological diffusion.