Stimulation of entrepreneurs' innovative activity: evidence from Kazakhstan

Abstract

In recent years, Kazakhstan's innovation policy has enjoyed a noticeable rally: ways to support innovation are being actively discussed, a suitable "toolbox" is developing, the susceptibility of decision-makers to the mechanisms for encouraging innovation is increasing. Nevertheless, effective levers of influence on business, in which innovation activity could manifest locally, have not been found yet. Although this does not change the overall economic situation. Following on from the results of a survey of various level business managers and factor analysis performed prior, the authors study the influence of incentive mechanisms on entity activities and their "inquiry" on the public policy content. The authors come to the conclusion that most of the tools to stimulate innovation entrepreneurship in Kazakhstan are currently aimed at successful market players, creating conditions for technological modernization of existing industries, and at improving the level of entrepreneurs' business and technological competencies. According to a study conducted in Kazakhstan, it is necessary to increase the participation of universities, research institutes, local executive and legislative authorities in the development of management mechanisms and the promotion of innovation entrepreneurship.