Towards the creation of smart policy mix for developing technology entrepreneurship ecosystem

Abstract

Purpose: The purpose of the research is to test the feasibility of the Integrated Technology Forecasting Model (ITFM) as an approach to governments' smart policy mix decision making support. The research follows on the results of a three-year research project at the University of Belgrade, initiated by the Ministry of Innovation and Technology Development of Serbia, with the framework pilot test being identified as a research framework step. The pilot test was conducted for the Innovation and Entrepreneurship Ecosystem of Serbia, while the proposed framework is designed to have broader applicability for different ecosystems as well. Design/methodology/approach: This paper is built upon an original research framework - the ITFM, integrating Delphi method, Objectives Matrix and Analytical Hierarchy Process. The feasibility of the framework is tested on a panel of experts from government, academia, and industry of Serbia that evaluated policy goals and measures through the developed questionnaire. The results were aggregated to calculate priorities of policy measures. Findings: The pilot test conducted on a small sample, but encompassing relevant experts, provided valuable feedback on the feasibility of the proposed framework. The results fulfilled the main objectives of the pilot test: a consensus was reached among the panel experts and the prioritization of policy measures is presented. Suggestions by the panel pointed to the need for engaging panel experts in designing the questionnaire. Originality/value: The presented research shows the potential for wider applicability of the novel methodological approach as a support to governments in prioritising policy goals and measures. The presented research framework, methodology and pilot test results are an original contribution of the authors. The paper's main value is in showing the results of a significant phase of the overall research project aimed at proposing a novel, creative approach to more responsible and effective development of policy decision-making.