The entrepreneurial ecosystem – an entrepreneurial environment
Published
February 14, 2023
Series
Copyright (c) 2022 Social Dictionaries
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
Synopsis
DEFINITION OF THE TERM: an entrepreneurial ecosystem is a set of interconnected entrepreneurs, organisations that support entrepreneurship, public institutions, and entrepreneurial processes which foster productive entrepreneurship.
HISTORICAL ANALYSIS OF THE TERM: the metaphor of an entrepreneurial ‘ecosystem’ (borrowed from biology) is increasingly used by researchers and practitioners to understand the context of entrepreneurship in different geographical dimensions (countries, regions, and cities). An entrepreneurial ecosystem is part of a larger ecosystem, which can be regional, national, international, and even global.
DISCUSSION OF THE TERM: an entrepreneurial ecosystem consists of social, political, economic, and cultural elements that stimulate the development of enterprises.
SYSTEMATIC REFLECTION WITH CONCLUSIONS AND RECOMMENDATIONS: the entrepreneurial ecosystem approach has gained popularity due to a gradual shift from managerial economies to entrepreneurial economies. Analysing the context of entrepreneurship offers a better understanding of entrepreneurial economies from a systemic perspective. It is also an important area within the European policy framework, which is directed at developing entrepreneurship.
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