Entrepreneurial Discovery Process - EDP

What is the entrepreneurial discovery process (EDP) about?

Some of the key features that have been pointed out by leading scholars and policy makers dealing with innovation policies to define what EDP is about are:

  • The EDP is an inclusive and interactive bottom-up process in which participants from different environments (policy, business, academia, etc) are discovering and producing information about potential new activities, identifying potential opportunities that emerge through this interaction, while policymakers assess outcomes and ways to facilitate the realisation of this potential.
  • The EDP pursues the integration of entrepreneurial knowledge fragmented and distributed over many sites and organisations, companies, universities, clients and users, specialised suppliers (some of these entities being located outside of the region) through the building of connections and partnerships.
  • The EDP consists of the exploration and opening up of a new domain of opportunities (technological and market), potentially rich in numerous innovations that emerge as feasible and attractive.

References

R. Hausmann and D. Rodrik, "Economic Development as Self-Discovery", Journal of Development Economics, vol.72, December 2003, 603-633. Foray, D. (2015) Smart Specialisation: Challenges and Opportunities for Regional Innovation Policies, Routledge.

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