Opportunities and challenges for entrepreneurial innovations in africa on the example of the Republic of Benin

The finance, investments, entrepreneurship

This article analyzes the opportunities and challenges of entrepreneurial innovation. Before discussing the subject of this article, we explored the work of many researchers who have been able to develop key concepts such as innovation and entrepreneurship. The results of their researcher recognize that innovation is one of the most important factors for ensuring economic growth. It must be added that it is necessary to put in place a well-built national innovation system. When it comes to entrepreneurship, it is described as the process of discovery, evaluation and use of opportunities. It therefore has characteristics such as: leadership, which is the driving force of economic growth; entrepreneurship with a vision for the future; mission and strategy; the realization of those mission and vision by an entrepreneur. Thus, an entrepreneur is «the one who acts not in accordance with the resources he currently controls”, because he constantly uses opportunities. In the modern economic literature, there are three main types of entrepreneurship in the field of innovation: the development of innovative products (product innovations), development of innovative technologies (process innovations), and development of organizational innovation. The aim of the research is to understand the need for entrepreneurial innovation Africa in general and, in particular, in Benin. This requires the willingness of governments and entrepreneurs to invest in research and innovation programs that can help improve the social and environmental conditions and the well-being of the population. The results show that there are difficulties that can be overcome, and there are also opportunities that can be used to get long-term benefits for innovative entrepreneurial activities and sustainable economic growth