Top economist calls Ton innovative entrepreneurs to translate new ideas into sustainable development

Speaking at this year’s annual Schumpeter ‘Innovation in Enterprise’ Lecture which took place in Prague, Professor Luc Soete, Dean of the Brussels School of Governance, emphasised the critical importance which innovative SMEs play in being engines of transformation for the European economy, but asked whether there is today a shortage of new ideas/knowledge on how to achieve sustainable development or is there rather a shortage of innovative entrepreneurs willing to take risks, and who are prepared, in periods of great uncertainty, to challenge incumbents often locked into fossil-fuel modes of production playing for time to write off their capital.

“We do not need political activists gluing themselves to old paintings, but need Schumpeterian entrepreneurs gluing themselves to new ideas,” said Prof. Soete.

Professor Soete believes that SMEs and entrepreneurs have a key role in bringing new ideas and innovative ways of thinking to those sustainability challenges which threaten our environment.

His inspiring Schumpeter ‘Innovation in Enterprise’ Lecture set the mood for this year’s SME Assembly which debated the role that small and medium enterprises play as essential drivers of innovation and growth.

At each SME Assembly, a leading economist delivers the Schumpeter ‘Innovation in Enterprise’ lecture to inspire the opening day of this ‘must attend’ event for Europe’s SMEs & entrepreneurs, and those that support them.

Previous lecturers have included Nobel Prize winners such as Joseph E. Stiglitz, Professor of the Columbia University, and Professor Lučka Kajfež Bogataj of the University of Ljubljana.

View Professor’s Soete’s full presentation here.

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