7.2High-growth innovative firms with impact

By Elie Ratinckx and Danielle Raspoet (Flemish Advisory Council for Innovation & Enterprise, VARIO[1])

High-growth innovative enterprises play an important role in the economic cycle of value creation and the upscaling of innovations. High-growth firms are also an important policy issue. Most jobs are created by a limited number of fast-growing firms, while employment remains stable for most companies. High-growth firms are usually (but not always) young, not necessarily small, not more common in hi-tech industries… In its advisory report[2] 'High-growth innovative firms with impact', VARIO (2018) proposed an integral strategy to increase the number of successful high-growth innovative firms in Flanders, focusing on four closely interwoven policy goals:

  1. Increasing the number of ambitious entrepreneurs
  2. Developing effective high-growth entrepreneurial ecosystems
  3. Creating favorable framework conditions
  4. Strengthening evaluation and monitoring instruments

The roll-out of this strategy requires an innovative, holistic policy approach, away from silos and based on an intricate insight into the internal functioning of high-growth entrepreneurial ecosystems, in close cooperation with a variety of stakeholders.

 

[1] The Flemish Advisory Council for Innovation and Enterprise (Vlaamse Adviesraad voor Innoveren en Ondernemen or VARIO) advises the Flemish Government and the Flemish Parliament on its science, technology, innovation, industry and entrepreneurship policy. VARIO works independently from the Flemish Government and the Flemish stakeholders in the field of science, innovation, industry and enterprise. https://www.vario.be/en

[2] VARIO (2018). High-growth innovative firms with impact. Advisory report 4. https://www.vario.be/nl/node/1302