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What is meant by entrepreneurship, innovation and economic growth is often not clear or very idiosyncratic. This paper starts with a discussion of the nature of entrepreneurship and its relation to innovation. The second section provides an overview of theory and empirical research on the relation between entrepreneurship, innovation and economic growth. The paper continues with a study on entrepreneurship and innovation in the Netherlands in an international and historical perspective. After these conceptual, theoretical and empirical investigations, we turn to policy issues.

In economics, business, and government policy, innovation policy requires the creation of new approaches to a whole range of activities. This edited volume engagingly explores the roles of individuals and organizations involved in the creation and application of innovations. Covering topics as diverse as the macro-economic importance of innovation, theories of knowledge and learning, entrepreneurship, education and research, organizational innovation, networks, and regional innovation systems, Micro-Foundations for Innovation Policy provides critical insights into the development of innovation policy.

Why do regional governments establish venture capital funds? Government intervention in venture capital markets is traditionally legitimised by market failure rationales. In this paper, we analyse the supply of public and private venture capital in Dutch regions, which reveals a multiplicity of rationales for government intervention in the regional economy. We ground this in the policy diffusion literature and distinguish four rationales for government intervention: economic competition, coercion, imitation and learning. The findings enrich the analysis of regional government interventions and challenge the rhetoric that regional policies seeking to foster venture capital markets are solely implemented to address market failures.

Why do regional governments establish venture capital funds? Government intervention in venture capital markets is traditionally legitimised by market failure rationales. In this paper, we analyse the supply of public and private venture capital in Dutch regions, which reveals a multiplicity of rationales for government intervention in the regional economy. We ground this in the policy diffusion literature and distinguish four rationales for government intervention: economic competition, coercion, imitation and learning. The findings enrich the analysis of regional government interventions and challenge the rhetoric that regional policies seeking to foster venture capital markets are solely implemented to address market failures.

How does the embeddedness in institutional structures enable or constrain the economic evolution of manufacturing regions? The history of these regions explains the origins and persistence of certain region-specific institutions. In this article the embeddedness in institutions-as the products of historically situated interactions, conflicts and negotiations among different socioeconomic actors and groups-is compared in the development of two manufcturing regions: the Uddevalla region in Sweden and the Southeast Brabant region in the Netherlands. This comparative investigation of two manufacturing regions suggests that the type of manufacturing seems to be decisive for the possibility to adapt. Since social capital, or embeddedness, has been strong in both regions, it is not a sufficient factor alone to explain why one of the regions has managed to transform better than the other.