About the Book
In economic growth the largest differences between developed and developing economies are in innovation performances. Innovation is critical for growth, but it is increasingly important for addressing major development changes, such as those related to inclusion and sustainability.
Recognizing this pattern, many countries are promoting innovation and entrepreneurship. Market and government failures and other bottlenecks impede innovation and entrepreneurship, particularly in developing countries. These countries need to build the capacity to find, absorb, and use new technologies and processes as well as foster entrepreneurs who can take risks, look for finance, and bring new products and processes to market.
The Independent Evaluation Group reviewed the investment portfolio in innovation and entrepreneurship interventions over the past decade across the World Bank Group. IEG found that this investment is substantial, but its effectiveness can be enhanced through broad, systemic efforts. Urgent action is required to enhance coordination, consultation, and linkages on innovation and entrepreneurship initiatives across networks, sectors, and regions.
Another challenge is to develop practical solutions for people who earn less than $2 a day–an issue relevant to middle-income as well as low-income countries. Sustained efforts are required to identify different mechanisms and implementation arrangements that are effective and efficient. Monitoring and evaluation is also important for scale-up of promising interventions and mechanisms to effectively capture and share knowledge within and across the Bank Group.
IEG presented a number of recommendations to strengthen the effectiveness of Bank Group support for innovation and entrepreneurship. They involved implementing a strategic framework that considers the new World Bank Group strategy and provides building blocks, examining alternative approaches for financing early-stage start-ups, and promoting knowledge sharing within the Bank Group in numerous ways.
Both development and business audiences will be interested in this evaluation: the lessons distilled and examples highlighted can be applied in many business contexts.
Contents:
Abbreviations • Acknowledgments • Overview • Management Response • Management Action Record • Chairperson’s Summary: Committee on Development Effectiveness
Chapter 1: Evaluation Context • Evaluation Rationale • Conceptual Framework for the Evaluation • Evaluation Questions and Criteria • Scope • Rationale for Bank Group Intervention to Support Innovation and Entrepreneurship • Evaluation Methodology
Chapter 2: Strategies to Support Innovation and Entrepreneurship• Building Innovation Capacity at the Country Level • Innovation and Entrepreneurship in Corporate, Sector, Regional, and Country Strategies of the World Bonk Group • Summary
Chapter 3: Supporting Innovation and Entrepreneurship in World Bank Group Projects• World Bank Group Lending and Investment Portfolio for Innovation and Entrepreneurship • Design of Bonk Group Innovation and Entrepreneurship Projects • World Bank Interventions Supporting Innovation and Entrepreneurship • IFC Investments Supporting Innovation and Entrepreneurship • MIGA Guarantees Supporting Innovation and Entrepreuneurship • World Bonk Group Knowledge Activities Supporting Innovation and Entrepreneurship • Country Perspectives: Design of Innovation and Entrepreneurship Interventions • Summary
Chapter 4: Portfolio Performance of World Bank Group Support for Innovation and Entrepreneurship• Performance of World Bonk Projects • Performance of World Bonk-Targeted Interventions • Performance of IFC Investment Projects • Performance of IFC’s Targeted Interventions • Perfomance of MIGA Projects • Country Perspectives: Performance of Innovation and Entrepreneurship Interventions • Summary
Chapter 5: Learning from World Bank Group Interventions• Support to R&D • Strengthening Entrepreneurial Capabilities • Financing Early-Stage Start-Ups • Fostering Linkages among Innovation Actors • Learning and Knowledge Flows on Innovation and Entrepreneurship at the Bank Group • Country Perspectives: Opportunities, Gaps, and Lessons across Countries • Summary
Chapter 6:Conclusions and Recommendations