Entrepreneurship, Innovation, and Economic Development - Research Paper Example

Entrepreneurship, Innovation and Economic Development Introduction: Company Overview Shopcaster Incorporation is headquartered in New York. It is providing online along with mobile social facility, which enables the various Canadian independent retailers to exhibit and sell products online through Shopcaster’s online stores. The company was established in the year 2011 by Judy Sims, the founder & CEO. Aron Jones is the Co-Founder & CTO of the company. Shopcaster operates in different locations that include Toronto, Canada, Vancouver, New York and in other parts of North America.

Company provides a large platform to the local retailers to connect around the world with its online shopping. Additionally, the consumers shop with the company, as the company site enables them to shop thousands of products with the hundreds of local retailers (AOL Inc., 2014; Shopcaster Inc., 2014; Mantella Venture Partners, 2013).2. Research relating to Canadian Entrepreneurship(a) Canadian Entrepreneurial Attitudes, Activity, Aspirations and DemographicsEntrepreneurial attitudes generally vary with prospects culture and attitudes of people in the countries.

Canadians are having extremely positive attitude with regard to entrepreneurship attitudes. In this regard, 61% of Canadians belief that entrepreneurship is an effective career choice and 70% considers that successful entrepreneurs are having respective social status in Canada. In terms of entrepreneurial activity, around 12% of the Canada’s working-age becomes entrepreneurs in early stage. The activities of the Canadians reflect that younger workforce of the country are strongly engaged in entrepreneurial activities.

Moreover, Canadian entrepreneurs are highly ambitious, as 22% of entrepreneurs have targeted to induce 10 jobs along with 50% growth within the duration of five years. It has been identified that around 32% of entrepreneurs possess certain objectives in order to introduce new products in the market (Kremmidas, 2014). Additionally, the entrepreneurial demographics of Canada reflected that 6.3% of people are self-employed within their incorporated businesses (1Government of Canada, 2014). (b) Shopcaster Entrepreneurship and Framework ConditionsThe stages of entrepreneurship and the framework conditions for Shopcaster in Canada are based on the ‘Global Entrepreneurship Monitor’ (GEM) model.

The different stages of the framework include social norms, national conditions, economic activity and infrastructure. Judy Sims obtains inspiration through interactions with local retailers and the knowledge about the strong needs of web presence to communicate with customers. Correspondingly, the business framework is based on creativity ideas of Judy Rims and Aron Jones and having support from government as well as infrastructure leading to the establishment of Shopcaster (Mantella Venture Partners, 2013).3. Role of the Canadian GovernmentIn order to accelerate businesses in Canada, the government of Canada is likely to induce various reforms to attract foreign investors.

Moreover, the legal system of Canada provides significant opportunity to Canadian entrepreneurs in conducting operations with better facility and additional capital transfers reimbursement. During the year 2012, 12 of the Ontario companies including Shopcaster receiving financial support of $26.6 million since their incorporation from ‘Investment Accelerator Fund’ (IAF) to perform various operations. The government provides additional benefits to support the development of Shopcaster and improves the quality of life of Canadians (MaRS Discovery District, 2012).4. Canadian Company’s International FrameworkIn the current scenario, Canadian companies having high potentiality of making growth and accordingly, the companies are attracted to commence businesses in the global market.

Additionally, Canadian companies are participating in various ‘trade mission program’ in order to meet the needs of global customers, local peoples, business partners and identify opportunities of internationalization. Moreover, Canadian companies are having high opportunity to involve in international markets because of the high involvement in productive, efficiency, innovativeness, sustainability, ideas and competitiveness in their working conditions, which enable them to be potential in performing internationally to internationalise (2Government of Canada, 2014; West Economic Diversification Canada, 2012). 5. ConclusionFrom the above discussion, it can be comprehended that Shopcaster emerged in the international environment with high potentiality of growth.

Government and other regulatory bodies play significant role behind the intensification of the company. Moreover, in order to improve the business conditions, the government of Canada has significantly taken various legislating programs. In this regard, there are huge opportunities for the Canadian business units to internationalize in the global environment with high growth prospects. Thus, it can be concluded that Shopcaster is having high potential growth in the future, as the company displayed products in an attractive and user-friendly manner for convenience.

ReferencesAOL Inc. (2014). Shopcaster. Retrieved from http://www.crunchbase.com/organization/shopcastr1Government of Canada. (2014). The State of entrepreneurship in Canada. Retrieved from https://www.ic.gc.ca/eic/site/061.nsf/eng/rd02475.html#point6.12Government of Canada. (2014). Business meet-ups: Networking for the new millennium. Retrieved from http://www.canadabusiness.ca/eng/blog/entry/4833/Kremmidas, T. (2014). Attitudes, activity and aspirations of Canadian entrepreneurs: An A+. Retrieved from http://www.cbj.ca/features/sep_14_features/attitudes_activity_and_aspirations_of_canadian_entrepreneurs_an_.

htmlMaRS Discovery District. (2012). Ontario startups receive $5.4 million from investment accelerator fund. Retrieved from http://www.marsdd.com/media-centre/ontario-startups-receive-5-4-million-from-iaf/Mantella Venture Partners. (2013). Shopcaster. Retrieved from http://mantellavp.com/portfolio/shopcastr/Shopcaster Inc. (2014). About and contact us. Retrieved from https://shopcaster.com/a/aboutWest Economic Diversification Canada. (2012). Trade and investment opportunities in Western Canada.

Retrieved from http://www.wd.gc.ca/eng/97.asp