AbstractThree paradigms, which today compete for dominance in scientific society, can be identified According to the “entrepreneurship paradigm” individuals champion the implementation of an idea or the gaining of independence. In its classic form, the entrepreneur would be the founder of an enterprise, while his modern counterpart may be found in companies that already exist The “technology—economic paradigm” views technological development as the determinant of innovation. The “strategic innovation paradigm” stresses market opportunities. Innovation is the ability to recognise market opportunities and to transform them into external and internal business strategies. The strategy is the framework for innovation development The last part of the article discusses the implication of each paradigm for industrial policy.