Europe's innovation potential is currently dominated by well-established large companies. In most member countries the bulk
of R&D expenditures is spent by large companies. The figures point to a considerable heterogeneity with regard to the importance
of SMEs in national R&D activities. However, young companies are said to be the driving force behind radical innovation which
will be a source of employment and growth in future. In addition, the weakness of Europe is not only the small number of high-tech
start-ups but more specifically the small number of high-tech start-ups which accomplish continuing, rapid growth. The central
question of the paper is whether SMEs and young firms might be agents with a special contribution to new growth path in Europe.
Forschungsbereich:Industrieökonomie, Innovation und internationaler Wettbewerb