Innovation and technology based economic development: Are there short-cuts?

Many regions in the world, in developed and developing countries are striving for advanced technological and economic development. In this paper, based on a study of university related start-up companies some of the main barriers for growth are described. The findings are then discussed in a wider context of economic growth and whether it is possible to advance at an accelerated pace. It is concluded that many of the developed countries started their economic growth patterns centuries ago which enabled them to develop critical mass in important areas for economic and technological development. Building up a critical mass takes time and it seems unlikely that underdeveloped regions will be able to find short-cuts to enhance their economic and technological status.