Nowadays, countries at different levels of development increasingly recognize that innovation is critical for maintaining a competitive capacity in the global economy, as well as for facilitating economic diversification and holistic progress. It has been clear for long that innovation is the engine of technological breakthroughs throughout any economy led by new entrepreneurs and businessmen eager to apply their new ideas of science and technology.
The continuous transformation of innovation capacity has been a fundamental factor in countries that have experienced rapid and sustained economic growth, particularly in the global economic move of the nineteenth century. Emerging economies and developing countries seeking to pursue development strategies that foster growth to the mass must build the capacity to acquire, disseminate, and use technologies to promote innovation and encourage new and existing firms to invest in business opportunities.
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