Innovation and Entrepreneurship Assessment Initiatives: A Critical View

Abstract

Entrepreneurship and Innovation related regional and national development has become a phenomenon for the last decades, however the outcomes of these endeavors have attracted many researchers agencies and international organisations such as European Commission Global Entrepreneurship Monitor etc. through their projects programs departments or initiatives. Therefore this study examines the worldwide known six Innovation and Entrepreneurship Initiatives (here after IEIs) assessing of entrepreneurship and innovation. The main IEIs are (IUS) Innovation Union Scoreboard GEM (Global Entrepreneurship Monitor) GII (Global Innovation Index) and ICI (Innovation Capacity Index) GEINDEX (Global Entrepreneurship Index) and WCY (World Competitiveness Yearbook). This research includes the observation of some commonly used IEIs in terms of sample size the quality (research and development technology creative output expenditure on research and development level of research whether it is firm country or employer entrepreneur level etc.) and the quantity of indices measurement method survey frequency and some other specifications. Indices are compared with each other to expose both the similarities and the differences, however there is still a big gap on the comparison of state and degree of entrepreneurship and innovation in nations. Although there are some obstacles in the measurement of IEIs they present a broader point of view to the researchers and practitioners. As a result of the diversity in measurement methods sampling sizes indicators etc. there is not a single method for evaluating these indicators which makes it difficult to make a comparison. As a result for the proper establishment of IEIs standardization of the initiatives should be considered. This research sheds a light for further scientific debates in this field of study.