Globalization to relocalization: Bypassing barriers to innovation and entrepreneurship in developing countries

Abstract

In this era of globalization exhibiting signs of reversal towards relocalization; developing countries face multidimensional and diversified challenges coupled with problematic innovation and entrepreneurship environment. The aim of this paper is to examine the barriers to innovation and entrepreneurship in the context of developing countries and how to bypass these barriers on the pathway to transforming the developing countries' economies. The methodological approach adopted is based on the national innovation model, a case study of four selected countries which have been able to go round these barriers and the research of Cornell University. This research reveals that the barriers which hinder entrepreneurship and innovation in developing countries can be bypassed. The results of this paper have implications for reframing National Innovation policy to promote entrepreneurship and innovation.