Innovative Entrepreneurship as a Driver of Sustainable Business Development in the Republic of Moldova

Abstract

The growing importance of innovative entrepreneurship as a driver of sustainable business development has become an important focus in transition economies, including the Republic of Moldova. This study explores the current state of innovative enterprises in Moldova, showing their role in economic growth while addressing environmental and social challenges. The research aims to assess the factors influencing the development of innovative entrepreneurship and identify the main barriers that hinder its progress. To achieve this, a combination of qualitative and quantitative research methods was used, including the analysis of statistical data on innovative enterprises, a review of relevant literature, and case studies of businesses implementing sustainable innovations. The findings reveal that, despite the growing interest in innovation, Moldova’s entrepreneurial ecosystem faces challenges such as regulatory barriers, limited access to funding, insufficient technological infrastructure, and a weak innovation culture. However, the study also identifies opportunities for fostering sustainable entrepreneurship, emphasizing the need for policy support, financial incentives, and increased collaboration between the government, businesses, and research institutions. Strengthening the innovation ecosystem can contribute to greater competitiveness, economic resilience, but also long-term sustainability. The results underline the necessity of strategic interventions to support the growth of innovative enterprises and create a favorable environment for sustainable business development in Moldova. UDC: 001.895:334.72(478); JEL: L26, M13, O31