Financing Entrepreneurship and Innovation in Emerging Markets

Financing Entrepreneurship and Innovation in Emerging Markets

by Lourdes Casanova (Author), Soumitra Dutta (Author), Peter Klaus Cornelius (Author)

Synopsis

Financing Entrepreneurship and Innovation in Emerging Markets offers an original perspective on the links between macro data on innovation, data on micro-entrepreneurial processes and venture capital supply. The authors synthesize two disparate fields of research and thinking-innovation and entrepreneurship and economics-to illuminate how domestic companies compete and the business environment in which entrepreneurial firms operate. Its broad scope and firm linkages between processes at different levels leapfrogs research topics. For those investigating entrepreneurship and innovation in the early stages of economic development, this book demonstrates how micro and macro foundations of productivity, and hence economic growth and development, are inextricably intertwined.

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More Information

Format: Hardcover
Pages: 318
Publisher: Academic Press
Published: 01 Nov 2017

ISBN 10: 0128040254
ISBN 13: 9780128040256
Book Overview: Presents a compelling description of the ways micro and macro foundations of entrepreneurship and innovation influence economic growth

Media Reviews
This book explores in depth the existing conditions, challenges and opportunities for driving innovation and entrepreneurship in the developing world with relevant examples of successful ventures from India and China, two of the biggest emerging economies in the world. It dexterously guides us to appreciate the nuances of the financial frameworks that are shaping the entrepreneurial ecosystems in emerging markets vis-a-vis developed economies. Expanding on the learnings from the Global Innovation Index, the book seamlessly complements its policy suggestions, and adds valuable insights and inferences to this body of work. An important read for policy makers, scholars and entrepreneurs across economies. --Chandrajit Banerjee, Director General, Confederation of Indian Industry Well researched and illuminating. A must read for serious investors exploring private investments outside the US. -- Andrew Boyd, Head of Global Equity Capital Markets, Fidelity Investments The authors provide a detailed and nuanced analysis of how innovation in developing economies is shaping the global economy. While it is common knowledge that most future economic growth will happen outside the G-20, there has been little research on the details of how this will occur. Financing Entrepreneurship and Innovation in Emerging Markets collects what we know about entrepreneurial finance in emerging economies and combines this with a more established body of knowledge in developed economies to help the reader understand the future path of financing innovative businesses throughout the world. The authors demystify the interaction between factors of production, financing activity, and policy to provide a clear picture of how transformational entrepreneurship will drive growth in emerging economies. --Gregory W. Brown, Professor and Director, Frank H. Kenan Institute of Private Enterprise, Research Director, Institute for Private Capital, and Sarah Graham Kenan Distinguished Scholar of Finance, The University of North Carolina at Chapel Hill Financing Entrepreneurship and Innovation in Emerging Markets is a must read for entrepreneurs, investors and policy makers that are looking to understand how innovation and new technologies are influencing emerging countries and how access to financing plays a fundamental role in this respect. It is a must read for any player on the emerging market tech scene. --Adalberto Flores, Co-Founder & CEO at Kueski Fascinating, important and necessary for policymakers, businessmen, entrepreneurs, financiers, investors, career planners, jobseekers, and anyone interested in emerging markets and economic and financial development. --Timothy Heyman, CBE, President, Franklin Templeton Asset Management, Mexico As entrepreneurship and innovation in China have been promoted to the national strategic level, understanding their underlying drivers has attracted more and more attention at home and abroad. This book offers unique and refreshing insights into the role of entrepreneurship and the financing of innovation in China and other emerging market countries. While the book is research-oriented, it is written in a way that makes it accessible to a broader audience. It's a book well worth reading! --Liao Li, Professor and Executive Associate Dean, PBC School of Finance, Tsinghua University In the digital economy, there are opportunities and risks for developing countries: the opportunity to use technology to leapfrog in terms of social and economic development and the risk of falling behind with wider gaps and exclusions. This book addresses a key issue to realize the opportunities for emerging countries - strengthening local innovation ecosystems to use local talent to succeed in the new economy. --Diego Molano, Former Information Technology Minister of Colombia This seminal work provides the most comprehensive look yet into the forces driving the pace of entrepreneurial activity and innovation in emerging economies, and importantly, the critical role efficient capital formation can play in accelerating it. --Shawn Munday, Professor of the Practice of Finance and Executive Director of the Institute for Private Capital, The University of North Carolina at Chapel Hill Casanova, Cornelius and Dutta provide a comprehensive and expert account of the role that innovation and technology play in spurring growth in emerging markets, with special emphasis on India and China. The book is essential reading for anyone who wishes to understand how changes in financial markets can help promote entrepreneurship in these markets. --David T. Robinson, Professor of Finance, J. Rex Fuqua Professor of International Management, Fuqua School of Business, Duke University, Faculty Research Associate, National Bureau of Economic Research This important new book shows how entrepreneurship and innovation are within the grasp of emerging markets. Novel and creative new approaches to providing entrepreneurial finance in the context of emerging markets are introduced and analyzed. This book makes it clear that a paucity of finance no longer needs to hold back entrepreneurial and innovative forces in the context of emerging markets. --David Audretsch, Indiana University This book provides an in-depth overview of how innovative start-ups are financed in developing countries, starting from practices in developed countries. The case studies provide fascinating insight in the growth and financing of Asian unicorns. --Sophie Manigart, Vlerick Business School A very timely publication for the key role of modern entrepreneurial finance and related policies in fostering innovation and private sector development in the world's largest emerging markets. The authors provide an excellent specialized companion to the modern entrepreneurial finance curriculum. --Georgios A. Panos, University of Glasgow Financing Entrepreneurship and Innovation in Emerging Markets affords a topical and fully updated overview of the financial foundations of the innovation process in low and medium income countries. It depicts capital formation in its various facets, as well as policy developments, in rich detail. Altogether it makes a timely contribution to the literature on global innovation systems and entrepreneurship, and will be required reading for innovation and entrepreneurship scholars and students with an interest in emerging markets. --Mats Benner, Lund University School of Economics and Management Joseph Schumpeter taught us that successful innovations occur when three players combine their visions: the clever inventor, the genial entrepreneur and the daring banker. For too long we have forgotten how important is finance in shaping the delivery of new products, processes and services. Casanova, Cornelius and Dutta have brilliantly managed to bring the three characters together in the increasingly complex world of the XXI century. --Daniele Archibugi, Italian National Research Council, Rome and Birkbeck College, University of London
Author Bio
Lourdes Casanova, a Senior Lecturer and Academic Director of the Emerging Markets Institute at the Samuel Curtis Johnson Graduate School of Management at Cornell University, formerly at INSEAD, specializes in international business with a focus on emerging markets multinationals. She was voted in 2014 as one of the 50 most influential Iberoamerican intellectuals by Esglobal. A Fulbright Scholar with a Masters degree from the University of Southern California and a PhD from the University of Barcelona, she has been a visiting professor at Haas School of Business at the University of California at Berkeley, the Judge Business School at University of Cambridge, and at the Latin American Centre at the University of Oxford, University of Zurich, and Universidad Autonoma de Barcelona. Peter Cornelius is a Research Fellow at the Emerging Markets Institute, Samuel Curtis Johnson Graduate School of Management, Cornell University, Ithaca, NY, USA. Soumitra Dutta is the eleventh dean and professor of management and organizations in the Samuel Curtis Johnson Graduate School of Management at Cornell University. He most recently served as the Roland Berger Chaired Professor of Business and Technology. Dutta is an authority on the impact of new technology on the business world, especially social media and social networking, and on strategies for driving growth and innovation by embracing the digital economy. He is the co-editor and author respectively of two influential reports in technology and innovation -- the Global Information Technology Report (co-published with the World Economic Forum) and the Global Innovation Index (to be co-published with the World Intellectual Property Organization). Both reports have been used by several governments around the world in assessing and planning their technology and innovation policies.