Defining a R&D Framework for Entrepreneurship and Innovation on Information Product Generation

Introduction Information is the key resource that forms the institutional basis of the post-industrial economy and society. It ought to be empasized that it’s establishments of upper education that provide tangible expression to this argument by acting as catalysts for data and analysis-driven economic growth and well-being enhancement. All this finds embodiment inside a new techno-academic paradigm in that the tutorial data base is center stage as a determinant of commercial change, economic growth and general well-being. Therefore, higher education institutions ought to not be viewed as a regional or national resource, however rather as a node in an increasingly seamless data base, which has a progressively larger interface with the data-driven international economy. Purpose The aim of this paper is to propose a research framework for entrepreneurship and innovation suitable for a developing country enabling it to become both a producer and a client of innovative entrepreneurial information packages. The data merchandise are designed to facilitate business development, and sustainable business practices, packaged to support entrepreneurial ventures in distinct epistemic cultural settings to be used by multiple participants within the entrepreneurial system. The proposal is predicated upon a model applied at Tshwane University of Technology in South Africa. A proposed R&D Framework A centralised R&D focus and strategic aim is important if Institutions of Higher Education wish to act as a node in an increasingly seamless information base economy. A typical vision may be to analysis and develop innovation business venture protocols and prototypes in the fields of business clustering, business development and management of innovation appropriate for specific regional environments in Southern Africa to be employed by entrepreneurs, policy manufacturers, and institutions of learning. The research domain could then be divided into mainstreams, culminating in specific worth added outputs. The entrepreneurship and innovation outputs ought to usually been info merchandise that are considered to be prerequisites for successful and sustainable entrepreneurial ventures and processes also for the effective management of innovation. The second demand is that the formulation and establishment of the R&D parameters, that defines the boundaries or scope of permissible R&D conduct. The parameters can as an example easily be defined in terms of three strategic parameters, particularly: 1. To firstly conduct research on business clustering commonalities (networks) so as to reinforce the competitive basis of corporations within the Southern African market place through a process of sharing information, grouping of resources and outputs, and sharing of factors of production; secondly, on business clustering formation and causes for these formations so as to perceive opportunities and constraints in specific clusters and lastly, the event business clustering algorithms so as to simulate specific business models and business environments. 2. Researchers can contribute to the International Business Case Study Centre and to the Centre for New Venture Creation, that will function business development learning environments for entrepreneurs, other researchers, students and policy makers. Research will concentrate on business best practices, successful new venture creation, technological entrepreneurship, growth indicators, research and innovation of key business development benchmarks and entrepreneurial coaching methodologies. Having these analysis outputs offered, business capabilities will be enhanced concerning scaleable business venture creation, business incubation, commercialisation of technologies, applicable business competition and sustainable growth methods, development of sensible business solutions and also the effective utilisation of venture support mechanisms at intervals the Southern African context to people who desire to start-up and sustain their own businesses. The International Business Case Study Centre and therefore the Centre for New Venture Creation can initially specialize in 2 extremes of business creation ventures, particularly: ? Those business ventures which will be classified as high growth ventures, characterised by radical innovations and disruptive technologies. ? Those business ventures than can be classified as low growth ventures within the survivalist economy. 3. Analysis on the management of innovation. Innovation is taken into account to be one in every of the main drivers of economic growth and prosperity in the knowledge economy. Understanding and managing innovation processes and structures in general and particularly in Southern Africa have the potential for huge advantages for actors, local clusters, and the national system of innovation. Analysis during this area ought to promote knowledge within the fields of technopreneurship and technology management and transfer also intellectual property. The last demand is to analyze the interrelationships between the set analysis parameters on Entrepreneurship and Innovation. Though the two ideas are highly connected to 1 another the interplay between the ideas are seldom investigated. Conclusion It is envisaged that the outputs of the research and development will extend the boundaries of business and technology innovations by creating data and information useful. The created business ventures protocols and information packages as well because the management of innovation, aim at designing and modelling entrepreneurial support tools for the transfer and distribution of business venture information. The developed packages will create an enabling environment and an economical info support services to entrepreneurs, policy manufacturers and learning establishments in Southern Africa. Furthermore, they will provide valuable information to promote, develop and participate in intensive information and technology based mostly business incubators. Establishing business links between business clustering, business development and the management of innovation offers a nice chance for top quality analysis as business info, product transfer and distribution, business development, and management of innovation – although closely connected – are historically kept apart. The outcomes of the analysis will contribute to discover underlying patterns inside related business ventures and innovations, also within similar business environments. Knowledge provided will not solely support better management of innovation and business development ventures, however it will also enable new and established entrepreneurs to hurry up and improve business call-making.