Virtual Business Support Infrastructure for Entrepreneurs

In the knowledge economy nowadays, a physical working space is less valuable than virtual networks and business clusters. Science technology parks and innovation centers, virtual incubators and business information centers could be a far more convenient way to support start-ups in the process of transferring business ideas, challenges and innovative technologies into competitive profitable businesses that create wealth. Presence and cognition technologies play an important role in the knowledge management process, helping entrepreneurs learn and solve lots of different problems more effectively. In this regard, it is very important to figure out the most effective technological solutions and principal directions for implementing work-based learning strategies in the learning process. The work with knowledge implies creation of content: generation of a new knowledge in order to stimulate the development of innovative processes. The goal of the paper is to get a new perspective view and understanding of the development of virtual business support infrastructure is facilitated in order to develop a network of innovative SMEs, foster communication, collaboration, individual's motivation and exchange of experiences of SMEs. This paper describes the theoretical principles of information flow modelling in network of collaborative and innovative SMEs with a practical example of a virtual business support infrastructure. The research idea is to describe the principles of virtual support system for entrepreneurs, cognition technologies that influence development in each individual to ensure sustainable entrepreneurship. WBL is used as a tool to achieve the goal of internalizing knowledge by experience in the workplace. For an employee, it is an opportunity to learn and possibly obtain a higher degree and collaboration with colleagues, while for an employer a way to increase the power of the company thanks to better-qualified staff and business partners. The result of the research is the analysis of the virtual business support infrastructure, improved quality of knowledge flow, and recommendations for developing work-based learning with regard to the encouragement of efficient knowledge management in entrepreneurship for common aims. (C) 2013 The Authors. Published by Elsevier B.V.