Incentives for entrepreneurship for the generation of innovation in Angola

Abstract

The generation of innovation within the scope of entrepreneurship aimed at economic development is aligned with the market, whose results obtained through 'new' or incremental knowledge are transformed into economic value. Thus, it is highlighted that it is essential to have interaction between the main agents of innovation: government, university/research institution and company. The study aimed to analyze the strategies to encourage entrepreneurship to generate innovation in Angola. Regarding the methodological procedures, this is a qualitative nature and a descriptive exploratory type. An analysis of the Angolan legislation focused about entrepreneurship and innovation was carried out. In addition, innovation portals were mapped and information regarding entrepreneurship and innovation in Angola was analyzed. Public innovation policies were identified, focusing on those that provide economic development in line with local and national needs. In the international context, for the first time Angola was present in the 2021 Global Innovation Index, results of investment in innovation. From this perspective, Angola ranked 119th in terms of the human capital and research pillar, in relation to knowledge and technology products, and creative products ranked 129th and 130th respectively. Regarding strategies aimed at entrepreneurship, it was observed that business incubators have provided an environment that favors the creation and development of products and services, especially knowledge-intensive ones. The actors that develop innovation actions in Angola are higher education institutions, entrepreneurs, companies, investors, public entities and development organizations. The 'Inova Angola' program stands out, a technology transfer and innovation network, which aims to bring together the community of innovators in one place, such as higher education institutions, startups, companies, entrepreneurs, researchers, and investors. Also noteworthy is the ‘Angola Accelerator’, an initiative aimed at micro-enterprises, encompassing several programs focused on entrepreneurial initiatives, attracting young people and women who have solid business ideas or companies in their initial phase, guiding the actions necessary for the ventures. The 'Payment System Innovation Laboratory', a project by the 'Angolan Accelerator', encompasses some programs such as the 'Fintech Incubator' launched by the National Bank of Angola in partnership with the Ministry of Higher Education, Science, Technology and Innovation, whose purpose is to select fintech startups. It should be noted that even though there are several initiatives in Angola, aimed at creating a favorable environment for innovation and entrepreneurship and, thus, constituting an innovation ecosystem, it is necessary to expand these initiatives in the country, instituting a national innovation system that works more efficiently, supporting the interaction between government, university, and business.