Journal of Applied Business, Economics and Strategic Management ISSN: 3139-1664 (Online)

Authors: Dr. Sameer Khanna, Ms. Laura Thompson

Abstract: Innovation and entrepreneurship play a pivotal role in driving economic growth by fostering new business ventures, creating employment opportunities, enhancing productivity, and promoting technological advancement. This paper explores the relationship between innovation, entrepreneurship, and economic development, highlighting key mechanisms through which entrepreneurial activities stimulate growth. The study examines case studies of successful startups, policies supporting entrepreneurship, and innovation ecosystems that catalyze regional and national economic expansion. Challenges such as funding constraints, regulatory barriers, and market uncertainties are also discussed. The research concludes that a robust culture of innovation and entrepreneurship is essential for sustainable economic progress in the modern global economy.

Keywords: Innovation, Entrepreneurship, Economic Growth, Startups, Technology, Business Development, Employment Generation, Policy Frameworks