Abstract
In conditions of geopolitical instability, there is no time for a gradual transition, our country needs clear pushes for development, namely the development of smart technologies that can be stimulated by the support of small business entities. To address this issue, a comprehensive examination of recent changes in foreign models of financial support for innovation is necessary. Numerous studies acknowledge the pivotal role of entrepreneurship in stimulating innovation, economic growth, and overall well-being, as well as its influence on job creation. Over time, researchers have presented varying perspectives on the relationship between economic development and entrepreneurship. It is widely recognized that innovation serves as a driving force behind the economic progress of nations, positioning innovative entrepreneurship as a crucial factor in contemporary economic development. This article aims to analyze the state's role in fostering innovative entrepreneurship for the economic advancement of Kazakhstan. Taking into account the multichannel nature of both economic development and innovative entrepreneurship, the article presented their vision of the relationship between the above strategically important indicators, reflecting individual characteristics. To achieve this objective, the article employs a model that explores the impact of new or young innovative firms on economic growth rates, thus aligning with the literature review and the stated purpose of the study.