Fostering Entrepreneurship

This English term "Entrepreneurship" implies ability to find new possibilities, to realize one's self-esteem and create new economical or social value. Entrepreneurship is a qualitative social value, defining personal and social ability to create and develop business and innovations. The regional economy development level depends on the entrepreneurship competences of the community, therefore, in one region the Silicon Valley is founded and other regions are in a permanent regression.

Enhancement of entrepreneurship in Europe is one of the corner stones of the Lisbon treaty strategies and means in turning the EU economy into the most competitive economy in the world. While comparing the development potentials of Europe and the USA, lack of entrepreneurship was indicated as the main reason of the EU lag. It is a paradox, but the EU citizens, though having better education and higher competences, while starting their own business are less willing to take up the responsibility.

It is not widely known that one of the most influential and important products in the world "Internet" was created at a Geneva institute (CERN) in Europe. However, Americans, not Europeans, applied the idea for a commercial use. This is an obvious example of the effect of entrepreneurship to the economical progress. Entrepreneurship is directly connected to personal motivation of a human to find and use possibilities to create new surplus value and develop a successful business.

Structural economical changes in a primitive production and transfer of production into cheep labor countries conditioned that an application of new technologies and innovations in business processes and ideas has become the main economic business success factor. The effect of the globalization on business competitiveness has been constantly increasing and affecting the ability of regional business to adjust to global economy trends and technology transfer. Knowledge, creativity and competence in the global economy have become no less important then the amount of capital. The time period from the presentation of a successful idea till its development to an international tycoon has become extremely short. For instance, „Google" and „Microsoft" became powerful companies within a ten year period. The globalization of the market decreased the importance of the local markets in a business idea implementation process. Therefore, a new information technology tycoon can appear in a remote but innovative region. For example, the widely spread global free internet programme "Skype" was born in Estonia.

Enhancement of entrepreneurship based on knowledge and innovations is a factor of successful regional development, therefore, the activity of the KSTP is focused on creation of business environment based on innovation technologies and ideas in the Klaipeda Region. Our organization pursues the EU business enhancement strategy stated in the "Green Paper of Entrepreneurship Enhancement in the EU" and implements 5 basic strategy points:

• to enhance entrepreneurship in regions;
• to encourage young people to take up businesses;
• to prepare businesses to development and competitiveness in foreign markets;
• to increase financial competences of businesses;
• to create innovative and friendly environment for small and medium businesses.

We hope to cover all possible business fields and activities by this scheme and transfer the most valuable services, which will help to increase the productivity of businesses in the Klaipeda Region.