Financing constraints have been discussed as a major obstacle to innovation. Small and mediumsized enterprises and … sense and as instruments for financing innovation. It also discusses implications of these developments for public policy …

This paper focuses on the systems-of-innovation (SI) approach and its policy implications. It introduces the topic by … the innovation process and the division of labour between private and public actors in carrying out SI activities. In this … context, the paper argues that the notion of optimality is irrelevant in an innovation system context and it discusses the …