What is Innovative Entrepreneurship

The specificity of the situation in global economy is that the speed of technological development is very high, so it is necessary to adapt quickly to changes. The share of small and medium-sized enterprises to gross domestic product is 20% in the Russian Federation and 60-70% in Western countries. This chapter presents the results of the assessment and monitoring of the status of small and medium-sized enterprises, which has been conducted by the business community. The chapter describes the mechanism of increasing the interest of the local government in the development of small and medium-sized enterprises. Also, it highlights the special importance of relations between enterprises and universities for training, in order to meet the challenges of innovation development in the regions. The opening of the Department of Innovative Entrepreneurship at the Bauman Moscow State Technical University is a logical and actual sphere of development. Finally, the chapter introduces the concept of the School of Technological Entrepreneurship.