Background & Purpose: Current global economic climate urges countries to draw on concepts like “Research and Development”, “Innovation” and “Entrepreneurship” more than ever before. However, to put these concepts into operation requires an understanding of the challenges facing these ambitions and solutions to address the challenges. In other words, understanding the present circumstances is pre-requisite to the implementation of these ideas on large-scale.
Methodology: The present study, therefore, attempted to identify and classify the challenges facing these areas. Taking an exploratory approach to the study of this subject, the research made use of several references as well as the literature related to the research variables, state documents, comparative study and expert opinion for the purposes of the research.
Findings: Hence, the paper conducted a close comparative study of the related literature and key state documents relevant to the study the results of which were merged and classified. The findings, then, were further examined and re-evaluated by the academic community as well as the industry analysts in order to come up with the basic pattern of the existing challenges facing “Research and Development”, “Innovation” and “Entrepreneurship” in the country.
Conclusion: Taking an integrative approach, the study attempted to identify not only the challenges facing these three areas, but also provide a model for the challenges facing the industries in the country in general.