Entrepreneurship, Research and development (R&D) and innovation have been identified as the catalyst in fostering economic growth. They will accelerate a higher rate of economic growth and, at the same time, close the gap between countries’ economic performance in a convergence process (Romer, 1986; Barro 1991). Among other sector, the Information and Communication Technology (ICT) sector is believed to act as the engine of growth thanks to its main characteristic as General Purpose Technology (GPT) which means that the spill-over effects brought by the ICT sector will help the rest of economy to evolve.
The study on high-tech entrepreneur can be traced back since 1980’s. The period was associated with techno-economic changes (Freeman & Perez, 1988) where entrepreneurship was playing important role. This period was also denoted by the less pronounce of scale of economy resulting the emergence of small industry with limited consolidation (Radosevic, 2007).
On innovation, Romer, Barro (1991) presents the phenomenon of economic growth by focusing on the disparity between developed and developing countries. To obtain his results, an empirical study was conducted comprising 98 countries during the period 1960-1985. That study predicted that there will be a future convergence of economic growth between countries. However, poorer countries can only catch up with the richer countries if the former can reach a higher level of human capital. Thus, there is a need to include more technological development and innovation as the catalyst in fostering economic growth.
This project aims to explore the conundrum between R&D, innovation and entrepreneurial activities to foster economic performance