Public policy is currently shifting from SME policy towards entrepreneurship policy, which supports entrepreneurship without directing attention to quantitative goals and specific firms or employment groups. The institutional framework set by public policy affects the prevalence and performance...

It is frequently argued that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are considered more innovative and therefore potential fast-growers. This argument relies on the assumption that the association among high-tech status, innovativeness...