Success in the Entrepreneurship and Innovation Program (EIP): A SWOT Analysis.

The purpose of this research is to: 1) discuss and analyze the adaptation of the innovation program in the United States (US) and United Kingdom (UK) through an examination of 8 successful case studies; 2) to identify the innovation indicators in four categories, (i) culture, (ii) policy, (iii) industry, and (iv) economy; and 3) to identify the strengths, weaknesses, opportunities, and threats of innovation (a SWOT analysis) and their potential use worldwide. Prior Work:The Entrepreneurship and Innovation Program (EIP) is a powerful engine for expansion and for addressing societal and global challenges. The innovation drives economic growth and job creation and is of significance not only within high-tech sectors but in all economic sectors. While economists and policymakers worldwide have recognized the importance of technological innovation for growth, the relationship between innovation and entrepreneurship has been especially appreciated recently because entrepreneurs play an important role in fomenting innovation. The results are part of the ongoing research project funded by a grant by Kuwait Foundation for Advancement of Sciences (KFAS-2012-1103-01). Methodology /Approach: The methodology is based on uses a qualitative approach consisting of literature review and eight international interviews in the United States (US) and the United Kingdom (UK). Results:This paper provides ranking of innovation programs and a set of guidelines and recommendations for future adaptation. Implications: This paper provides value-added knowledge for both academics and practitioners who are interested insuccessful adaptation ofEIP. Value: The authors believe that this paper demonstrates an added value to the current literature on EIP and fill the gap in the case studies of developed and developing countries literature. Also, presents more comprehensive analysis of progress and challenges for practitioners including policy makers, governments, and funded organizations through the successful implementation of EIP best practices. [ABSTRACT FROM AUTHOR]