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As the largest driver of economic growth, the innovation market and entrepreneurship ecosystem are key component of any nation’s financial engine. Intaking a fuel of novel ideas and motivated business people to churn out almost all new businesses and the vast majority of new jobs, micro and macro economists agree that entrepreneurship has resounding positive effects. Entrepreneurship has also been linked to non-economic benefits such as community development, social change, and increases in egalitarianism and democracy.

Despite all of the potential benefits of entrepreneurial foreign policy, there seems to be a disconnect between these proposed successes and actual implementation. Inc.com reports that venture capital, both private and public, largely avoid foriegn companies, and Foreign Affairs calls for more developing nations to follow venture capital strategies in their near future. While past precedent such as the “Miracle of Chile,” and major institutions such as the World Bank lend credence to the policy of “developmental entrepreneurship,” implementation still appears to be falling short. If smart policies focused on non-competition, entrepreneurial institutions, available capital, and ecosystem growth can be implemented in viable nations abroad, perhaps future socio economic miracles can spring up all throughout the world.

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