Page 11 - Issue-16

ELITE ISSUE 16, FEBRUARY 2020 PAGE 10

On the educational front, the plans gave special
importance to the promotion of the entrepreneurial
culture, teaching the basics of entrepreneurship, b uilding

the capacity of the youth, and development of techn ical
and vocational education. In serving the purpose o f
these plans, business incubators – whether private,
public or those in universities- had had pivotal ro le
through the programs they adopted.

From what has been pre-discussed, it can be deduced
that the preparation of the entrepreneurial environ ment
requires integration between financial, technical,
technological and legislative development. Addition ally,
it is also important to introduce intensive program s about
entrepreneurship to be taught starting from pre-col lege

education. Nonetheless, in many cases, the state ex erts
most efforts in developing one side, usually the fi nancial
one, while the rest end up being ignored or unequal ly
attended to. The adverse repercussions manifest in the
appearance of enterprises that lack innovation,
sustainability, and ability to compete while seekin g only
to benefit from the financial incentives offered to start-
ups. Dangers of the increasing number of such proje cts
lie in their threat to crowd out start-ups that hav e
elements of innovation. This results in a loss of t rust
towards the feasibility of start-ups as well as dif ficulties
in assessing the impact of innovative start-ups on the
economic indices.

Thus, in order to ensure an effective entrepreneuri al

environment, first, a clear framework should be
developed for defining start-ups; one that does not
depend on the capital size or the number of employe es
alone, but also differentiates between traditional and
innovative projects. Furthermore, there should be
strategic plans and steps for their execution that
guarantee integration between the technical, educat ional,
financial, legislative, and technological aspects i n order
to ensure an effective entrepreneurial environment
capable of producing projects that are able to achi eve
developmental leaps and sustainable development.

ELITE ISSUE 16, FEBRUARY 2020 PAGE 11