Балтийский регион
Baltic Region
ISSN: 2079-8555 (Print)
ISSN: 2310-0524 (Online)
Topical issue of innovative development
Pages 29-35

The prospects of entrepreneurship in the formation of new hi-tech markets in the Baltic Sea region



The article offers an analytical review of the prospects for the formation of new hi-tech markets in the Baltic Sea region with the participation of small and medium businesses. In view of the essential features of entrepreneurship, its prospects in the development and implementation of innovations seem to be quite attractive. However, in the current economic context, growth requires special measures. The authors analyse the measures taken by the European Union and individual countries in order to strengthen the participation of small and medium business in R&D and innovation, describe conditions which are necessary for unlocking innovative potential, identify new industries that might become drivers of innovative economy in Europe. The authors also offer a country-specific list of basic markets, which can be developed by small and medium enterprises in a short-term perspective. In the structure of the Baltic Sea region a special position is held by the Nordic countries — Sweden, Norway, Denmark, and Finland  — major regional innovators, as well as a group of South-eastern regions that serve as innovation consumers. Best hopes rest with information and communications technologies and biotechnologies, which are expected to become the centre of major clusters of small and medium enterprises.

1. Daly, M. 2012, SMEs in HORIZON 2020 and support under WP2013. In: Unit "Communication" DG Research and Innovation EU Commission report.
2. Innovation in the Baltic Sea, 2011. In: Final Report to the European Commission, Directorate-General Regional Policy region. Technopolis group.
3. European High-Tech Industry Becomes Increasingly Marginalized, 2012, 24 September, available at: http://www. atkearney. com/news-media/news-releases/news-release/-/asset_publisher/00OIL7Jc67KL/content/id/646522 (accessed 25 September 2012).
4. IBM Continues Business Expansion in Poland with New Branches in Krakow and Poznan, 2012, 12 September, available at: http://www. equities. com/news/headline-story?dt=2012-09-12&val=471211&cat=tech (accessed 25 September 2012).
5. Jegelevicius, L. 2012, Bio-tech Baltics bridge connections and bring firstever Nobel Prize winner a step closer, The Baltic Times, 19 September, available at: http://www. baltictimes.com/news/articles/31877/ (accessed 25 September 2012).
6. The European Union Strategy for the Baltic Sea Region. Background and Analysis, 2010, Luxembourg, Office for Official Publications of the European Union. doi: 10.2776/18241.
7. Schwab, K. and all (ed.), 2011, Global Competitiveness Report 2010—2011, Geneva, World Economic Forum.
The article