• karan

In the modern era of new knowledge economy, innovation and entrepreneurship activities are considered to be some of the most important factors influencingeconomic development, both in national and international level. The paper attempts to define the main factors which determine the innovation andentrepreneurial capability of a country and to investigate the implications on economic growth, namely, to which extent economic development depends on thepresence of an environment favorable to innovation, based on the endogenous development capabilities? This paper attempts to examine the role ofentrepreneurship and those of innovation activities (technical change, research and development and diffusion of technology) and the effects of economic growthprocess. The quality of human capital is a key contributor to innovation and economic development and is becoming all the more important in the contest of theknowledge society. As trade in services and information grows, the economy of today will increasingly call for employees with new skills and competenciesbeyond those in the traditional economy. Therefore, an efficient education system, adapted to the needs of the labor market, and the improvement of skills andemployability are crucial to continued economic growth and increased employment.

Firm Specific Factors, Entrepreneurial Environment, Knowledge Economy, Productivity

"NURTURING INNOVATIVION AND FOSTERING ENTREPRENEURSHIP ECOSYSTEM IN KNOWLEDGE ECONOMY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 6, page no.518-522, June-2018, Available :http://www.jetir.org/papers/JETIRC006091.pdf

"NURTURING INNOVATIVION AND FOSTERING ENTREPRENEURSHIP ECOSYSTEM IN KNOWLEDGE ECONOMY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 6, page no. pp518-522, June-2018, Available at : http://www.jetir.org/papers/JETIRC006091.pdf