How Do Policy Makers Support Innovation and Startups?
Policy makers can support innovation and startups by:
Research and Development (R&D) Grants: Providing financial support for R&D activities to foster innovation. Incubators and Accelerators: Facilitating the establishment of incubators and accelerators that offer mentorship, resources, and networking opportunities. Intellectual Property Rights: Ensuring robust intellectual property rights to protect innovations and inventions. Public-Private Partnerships: Encouraging collaborations between government entities and private companies to drive innovation. Regulatory Sandboxes: Creating regulatory sandboxes where startups can test new products and services in a controlled environment.