Developing an Entrepreneurial Ecosystem

Recently, there has been increasing interest in the literature on small business and entrepreneurship regarding "entrepreneurial ecosystems" or "start-up ecosystems," which could promote entrepreneurship and innovation. Entrepreneurial ecosystems are a set of interdependent actors and factors coordinated in such a way that they enable productive entrepreneurship within a country or a region; specifically, entrepreneurial ecosystems are combinations of various actors and factors, such as nascent entrepreneurs, angel investors, venture capitalists, and academic scholars which could foster entrepreneurship in accordance with the relationship and circulation among production factors, such as human, financial, and technological capital within a country or a region. In other words, entrepreneurial ecosystems allow individuals and organizations to exert their abilities in their respective fields of expertise, which would establish a more effective division of labor and interactions among organizations (including individuals) in an increasing diverse society. The concept of entrepreneurial ecosystems is also an effective way of promoting commercialization of technological seeds. Moreover, this study focuses not only on the interactions among organizations, but also on the division of labor over time from a firm's founding to growing stage. We will consider the mechanism of developing entrepreneurial ecosystems to promote innovation by providing new insights into the role of change in ownership and management and the division of labor during the growing stage.

July 6, 2020 - June 30, 2022