The importance of startups for construction of innovative economies

Abstract

Objective: The aim of this article is to determine the impact of startup businesses on the innovation of the economy.

Research Design & Methods: The statistics are from foundation reports, specializing in the study of the startup environment in Poland, Eurostat databases and the Central Statistical Office. The article attempts to define the concept of startup as a business, based on an innovative idea or pioneering business.

Findings: As a result, they are companies that create a completely new product or service, not based on replicated offers from other market players, and do not replicate existing ones. Business activity is subject to a considerable degree of risk. The analysis of the correlation between the number of Micro-enterprises and GDP per capita (PPS) as well as the number of patents issued for national inventions by the Polish Patent Office and GDP per capita (PPS) showed a strong correlation between the variables tested.

Contribution & Value Added: The benefits of developing a country-wide startup ecosystem contribute to government-directed R & D, in order to create a favorable environment for a new business model. The development of new businesses is an opportunity to improve the condition of national economies and the situation of society, and above all to increase the innovativeness of regions.

Keywords

Startup, innovation, innovative economym, startup ecosystem

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