Entrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. In the emerging market economies (countries in transition) of the UNECE region the sustained economic growth based on the use of innovation has come forward as the major objective of government policy. In countries rich in resources, decision makers have increasingly realized that economic development based on their exports is hardly sustainable given the volatility of external market demand and prices. In other countries, poor in natural resources, there has been no alternative to innovation-based development since the start of transition. In the market economy, the commercialization of Research and Development (R&D) results is at the heart of the continuous innovation process. This can be defined as the process of turning an invention into a product or service, which can be sold on the market providing returns to the investment by the commercializing company. Continued commercialization nurtures the process of innovation, which is pivotal to sustained economic growth. In broad terms, the innovation potential is influenced by the scope of R&D, which determines the stock of inventions and innovations to be commercialized; the quantity and quality of human resources available for R&D, which depend on the number of universities and research institutions, and quality of education; regulatory and institutional environment conducive to innovation, including stable property rights; independence of the judiciary; transparent and simple rules, and low costs governing the registration and operation of enterprises; and the wide use of information and communication technologies. These factors influence the business climate in which the innovation-based enterprises operate, and thus determine the demand for innovation. At the same time, differences between these two groups of economies go beyond the indicators measuring such inputs in the innovation process. Emerging market economies also lag behind in the efficiency of the conversion of these inputs into commercialized innovations. Journal of Defense Studies & Resource Management emerges as a best indexed, hybrid journal with impact factor compared to other competitive journals focusing on Research on Innovative Entrepreneurship by bringing up the recent research to global scientific community through its publications. The papers submitted are undergone through perfect plagiarism checks, later peer reviewed by the expert group and published after through revisions.