In the 2009 APEC Leaders’ Declaration, Leaders called for the advancement of economic growth in a sustainable, balanced and inclusive manner. APEC Leaders also supported the enhancement of growth through innovation and a knowledge-based economy. The response from APEC in 2010 was the development of the APEC Growth Strategy that focused on five growth attributes: balanced growth, inclusive growth, sustainable growth, innovative growth, and secure growth.
To augment APEC’s knowledge on innovative growth, ABAC Chinese Taipei in early 2010 proposed the ABAC Innovative Growth (IG) Initiative, which included a symposium and a business opinion survey. The final report identified the major elements of innovative growth as human resource development, national innovation system, ICT infrastructure, and business environment. Within each, best practice case studies were highlighted, accompanied by full policy recommendations aimed at fostering innovative growth in APEC economies.
This report represents the 2nd phase of the ABAC Innovative Growth Initiative, responding to ABAC members’ calls to deepen the research in this area with a view to ensuring small, medium and micro-enterprises (SMMEs) benefit from government measures to encourage innovative growth, with a specific focus on entrepreneurship and the commercialization of ideas. Particularly in light of the impact of the financial crisis, the strengthening of entrepreneurship has become more critical due to the fact that SMMEs generate significant numbers of jobs. .
The 2011 ABAC Innovative Growth Initiative was proposed by Chinese Taipei at the first ABAC meeting in Guangzhou, China in February 2011, and endorsed by the Small, Medium and Micro Enterprises and Entrepreneurship Working Group.
The 2011 ABAC Innovative Growth Initiative seeks to advance entrepreneurship and the commercialization of ideas by reviewing and analyzing the latest policies and strategies adopted by APEC economies, create a clear picture of APEC’s innovation environment, analyze the results of an SMME survey on innovation drivers, and provide recommendations to APEC Leaders on how to assist entrepreneurs in starting up and growing companies, enhance public-private partnerships and foster an environment conducive to innovation.[Extract fromsummary]