271that have been successful, and possible areas for improvement. Our main policy suggestions are critical listening to stakeholders by policymakers, identifying the decision points (e.g., growth trigger points) to leverage the impact of growth stimuli, designing incentives in the spirit of up or out dynamics, and enhancing the coordination of HGE policies.

Keywords High-growth enterprises · Entrepreneurship policy · SME policy · Firm growth · High-growth ﬁrms

1 Introduction

National governments and international organizations are showing increasing interest in High-Growth Enterprises (HGEs) as a source of economic dynamism and growth (Grover Goswami et al., 2019; Flachenecker et al., 2020; Benedetti Fasil et al., 2021) as well as innovation (Veugelers et al., 2018) and the creation of

A. Coad (*) Waseda Business School, Waseda University, Shinjuku, Tokyo, Japan P. Harasztosi · R. Pál European Investment Bank, Luxembourg, Luxembourg M. Teruel GRIT & ECO-SOS, Department of Economics, Universitat Rovira i Virgili, Reus, Spain