A new report by the World Economic Forum and the Global Entrepreneurship Monitor released today focuses on a hidden aspect of European innovation – intrapreneurship.
Intrapreneurship involves workers formulating and implementing new ideas within organizations rather than starting their own businesses. The report draws upon data from the Forum’s Global Competitiveness Index and GEM’s Adult Population Survey to analyse the associations between the competitiveness of European economies and the types of entrepreneurship exhibited. The analysis highlights the impact of intrapreneurial activity and how it changes the overall picture of European entrepreneurship. This report encourages decision-makers to look at the whole picture of entrepreneurship when designing policies. Leveraging the positive impacts of the Fourth industrial Revolution will depend on the energy and inventiveness of entrepreneurs around the world so understanding how and where they work will be crucial to national, regional and, ultimately, global success.
Professor Mark Hart, of the Enterprise Research Centre at Aston Business School and co-author from Global Entrepreneurship Monitor, said “While the UK’s relatively high levels of start-up activity by European standards are often lauded this research shows that the entrepreneurial capacity of the nation goes way beyond new venture creation and is more important in terms of the future growth trajectory of existing businesses”.
Professor Jonathan Levie, of the Hunter Centre for Entrepreneurship at Strathclyde Business School and co-author from Global Entrepreneurship Monitor, said: “When taken together the EEA and TEA rates provide a fuller picture of the extent of entrepreneurial activity being undertaken in a nation. The UK continues to have a relatively high rate of entrepreneurship among employees by international standards. This is good news because resources for new business activities are often easier to access within established businesses.”