Entrepreneurial Ecosystems

Abstract

This paper reviews and discusses the emergent entrepreneurial ecosystem approach. Entrepreneurial ecosystems are defined as a set of interdependent actors and factors coordinated in such a way that they enable productive entrepreneurship within a particular territory. The purpose of this paper is to critically investigate the emerging literature on entrepreneurial ecosystems. Current work on ecosystems is underdeveloped, focusing more on superficial generalizations based on successful case studies such as Silicon Valley or Boulder, Colorado rather than on rigorous social science research. The paper provides a review of the multiple definitions of ecosystems found within the literature, and discusses the relationships between ecosystems and allied concepts such as industrial districts, clusters, and innovation systems. The paper concludes by discussing an integrative model that connects the functional attributes of entrepreneurial ecosystems (including framework conditions and systemic conditions) with entrepreneurial outputs and welfare outcomes. The framework conditions consist of the social (informal and formal institutions) and physical conditions enabling or constraining human interaction. Systemic conditions are the heart of the ecosystem and include networks of entrepreneurs, leadership, finance, talent, knowledge, and support services.

Measuring Entrepreneurial Ecosystems

“…There are no perfect measures of either entrepreneurship nor aggregate value creation. To capture both output and outcome we use the concept of productive entrepreneurship (see Stam 2015;Stam and Spigel 2018). Productive entrepreneurship refers to "any entrepreneurial activity that contributes directly or indirectly to net output of the economy or to the capacity to produce additional output" (Baumol 1993, p 30).…”

“…On the basis of existing geography of entrepreneurship studies (see Stam 2015;Stam and Spigel 2018), an entrepreneurial ecosystem index is proposed which includes ten elements. The elements included in the entrepreneurial ecosystem index are listed in Table 1.…”

“…Several studies (Stam 2015;Spigel 2017;Stam and Spigel 2018) have shown that the entrepreneurial ecosystem approach can be used to synthesize prior academic research on the geography of entrepreneurship (see e.g. Sternberg 2009;Stam 2010) and entrepreneurship and regional development (see e.g.…”

“…Entrepreneurs might structurally change the economy and society, as exemplified with new sets of technologies, institutions and organizational arrangements (Arthur 2013). An entrepreneurial ecosystem can be defined as a set of interdependent actors and factors coordinated in such a way that they enable productive entrepreneurship within a particular territory (Stam 2015;Stam and Spigel 2018). Entrepreneurship is both the result of and the mediator of evolution (Day 1987): entrepreneurial behaviour as an output is enabled by the system, while the new value created, and potential structural change as an outcome of the system is mediated by entrepreneurship.…”

Regional innovation policies for new path development – beyond neo-liberal and traditional systemic views

“…The past years have seen a vivid debate on more systemic conceptual and policy approaches to entrepreneurship. There is, for instance, scholarly work on entrepreneurial ecosystems (Stam & Spigel, 2016) and national and regional systems of entrepreneurship (Qian, Acs, & Stought, 2013;Acs, Autio, & Szerb, 2014). Although these approaches place the phenomenon of entrepreneurship in a systemic context indicating e.g.…”