Entrepreneurship And Startups: Catalyst For Innovation And Economic Growth

Abstract

Entrepreneurship and startups have emerged as pivotal drivers of innovation and economic development in both developed and developing economies. In the contemporary global landscape, where rapid technological changes, market dynamism and socio-economic challenges coexist, entrepreneurial ventures play a transformative role by fostering disruptive innovations, generating employment, enhancing productivity and stimulating regional development. This paper investigates the multifaceted contributions of entrepreneurship and startup ecosystems to economic growth by analysing recent empirical studies, policy frameworks and global trends. It also explores the synergy between innovation and entrepreneurship, emphasizing the impact of digital transformation, access to venture capital, government support mechanisms and entrepreneurial education. By evaluating case studies and macroeconomic indicators, the paper establishes that a vibrant startup ecosystem not only fuels industrial competitiveness but also strengthens socio-economic resilience. The findings offer insights for policymakers, investors and educators seeking to harness entrepreneurial potential as a strategic lever for sustainable development and inclusive growth.