Role of Startups in Promoting Innovations and Sustainable Economic Growth

Abstract

In today's world, startups play a key role in driving innovation by facilitating the development of new technologies, products and business models. Thanks to their flexibility, high adaptability and focus on cutting-edge solutions, startups drive sustainable economic growth and accelerate technological change in various industries. They introduce breakthrough technologies that can change the market, creating new opportunities for business and society.

This paper examines the impact of startups on the innovation ecosystem, their contribution to the development of high-tech industries and sustainable economic growth, and the financing mechanisms that contribute to their success. Special attention is paid to the interaction of startups with large corporations, venture capital funds and government institutions, and the factors that determine the success of startups in the long term are analyzed.

Keywords: startups, innovations, technological development, venture financing, entrepreneurship.