Abstract
Entrepreneurial ecosystems constitute dynamic environments facilitating enterprise creation and economic growth. This paper analyzes the critical elements empowering entrepreneurial ecosystems, integrating conceptual frameworks from Isenberg (2010), Feld (2012) and Stam and Van de Ven (2021). Synthesizing these perspectives, nine interdependent building blocks essential for entrepreneurship to thrive are delineated: entrepreneurs/startups, policy, finance, culture, support systems, human capital, intermediate services, large corporations, and demand elements. Beyond component presence, the synergistic interactions between these facets drive ecosystem success as measured by outcomes like startups created, innovation levels, job creation and economic impacts. Given complex interdependencies, stakeholders promoting entrepreneurship are advised to cultivate collaborative networks rather than isolated initiatives.
| Original language | English |
|---|---|
| Title of host publication | International Encyclopedia of Business Management |
| Publisher | Elsevier |
| Pages | Vol1:569-Vol1:574 |
| ISBN (Electronic) | 9780443137013 |
| ISBN (Print) | 9780443137020 |
| DOIs | |
| Publication status | Published - 1 Jan 2025 |
Keywords
- Culture
- Demand elements
- Entrepreneurial ecosystems
- Entrepreneurs
- Entrepreneurship policy
- Finance
- Innovation networks
- Intermediate services
- Large corporations
- Regional economic development
- Start-ups
ASJC Scopus subject areas
- General Psychology
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