352:– Entrepreneurship thrives in ecosystems in which multiple stakeholders play key roles. Academic institutions are central in shaping young people’s attitudes, skills and behaviours. However, actors outside of the education systems play an increasingly critical role in working with formal and informal educational programmes as well as reaching out to underserved and socially excluded targets groups. This requires collaboration and multistakeholder partnerships. Entrepreneurship ecosystems commonly refer to academic programs within a university that focus on the development of student/graduate entrepreneurs and/or the commercialization of technology or intellectual property developed at the university level. However before the entrepreneurial ecosystem can bloom, the education system must embrace the idea that entrepreneurship is a core element of higher education.
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average growth rates within regions. In addition, Glaeser, Kerr and
Ponzetto followed up this research and confirmed the relationship between smaller average firm size and higher growth rates. Chatterji, Glaeser and Kerr also noted that some of the most famous entrepreneurial clusters (Silicon Valley, Boston's Route 128 Corridor, and Research Triangle Park) were located near large research universities. Governments often look to clusters to stimulate innovation and entrepreneurship in their region. When clusters are applied to entrepreneurship, experts agree governments should not seek to create new clusters, but rather reinforce existing ones. Tony Hsieh, founder of Zappos, has begun a project to see if an entrepreneurial cluster can be created in Las Vegas.
255:, entitled “How to Start an Entrepreneurial Revolution.” In this article, Isenberg describes the environment in which entrepreneurship tends to thrive. Drawing from examples from around the world, the article proposes that entrepreneurs are most successful when they have access to the human, financial and professional resources they need, and operate in an environment in which government policies encourage and safeguard entrepreneurs. This network is described as the entrepreneurship ecosystem.
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investment capital, social networks, and entrepreneurial mentors) and material attributes grounded in a specific places (government policies, universities, support services, physical infrastructure, and open local markets). Stam distinguishes between framework conditions of ecosystems (formal institutions, culture, physical infrastructure, and market demand) with systematic conditions of networks, leadership, finance, talent, knowledge, and support services.
240:, many of the ecosystem elements are strong and typically have evolved in tandem. Similarly, the formation of these ecosystems suggests that governments or societal leaders who want to foster more entrepreneurship as part of economic policy must strengthen several such elements simultaneously. However, recent research shows that government policy is often limited in what it can do to develop entrepreneurial ecosystems.
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alongside material ones. They emphasize that cultural elements, such as community engagement and shared values, play a crucial role in the growth and success of EEEs. By incorporating both cultural and material perspectives, policymakers can better design incentives and regulations to foster economic
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Several academic researchers have begun to investigate entrepreneurial ecosystems as well. Spigel suggests that ecosystems require cultural attributes (a culture of entrepreneurship and histories of successful entrepreneurship), social attributes that are accessed through social ties (worker talent,
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that are conducive to, or inhibitive of, the choice of a person to become an entrepreneur, or the probabilities of his or her success following launch. Organizations and individuals representing these elements are referred to as entrepreneurship stakeholders. Stakeholders are any entity that has an
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is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Early research was done in this context by
Benjamin Chinitz in 1961. Chinitz posed several theories, but most importantly noticed a correlation between average firm size and
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Also, entrepreneurship is usually perceived as the cure-all solution for deprivation depletion. Advocates assert that it guides to job design, higher earnings, and lower deprivation prices in the towns within it happens. Others disagree that numerous entrepreneurs are generating low-capacity
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Emerging entrepreneurial ecosystems (EEEs) are often evaluated using tangible metrics like new products, patents, and venture capital funding. However, Hannigan et al. (2022) argue that understanding these ecosystems requires considering
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and markets. Much additional scholarship has reinforced this conceptualization, and
Liguori and colleagues developed a measure that has been widely used nationally to assess communities from Tampa to Philadelphia to Chicago, and more.
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Chinitz, Benjamin. “Contrasts in
Agglomeration: New York and Pittsburgh.” The American Economic Review, Vol. 51, No. 2, Papers and Proceedings of the Seventy-Third Annual Meeting of the American Economic Association. (May, 1961):
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creation around the world to further target regional support efforts towards those type of companies that have higher innovation, growth and job creation potential. This has also led to an increasing focus on
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growth and innovation in these ecosystems. This approach suggests that building cultural infrastructure is as important as financial and technical support in developing thriving entrepreneurial environments.
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Chatterji, Aaron, Edward
Glaeser, and William Kerr. "Clusters of Entrepreneurship and Innovation." NBER Innovation Policy & the Economy (University of Chicago Press) 14, no. 1 (2014): 129-66.
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Glaeser, Edward L, William R. Kerr, and
Giacomo A.M. Ponzetto, ”Clusters of Entrepreneurship” (NBER Working Paper Series, National Bureau of Economic Research, Cambridge, MA, 2009).
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actively encourages and invites financiers to participate in new ventures - although access to money isn’t without barriers for those planning new business ventures
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Stam (2015) Entrepreneurial
Ecosystems and Regional Policy: A Sympathetic Critique. European Planning Studies 23(9): 1759-1769. DOI: 10.1080/09654313.2015.1061484
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operates in an environment with reduced bureaucratic obstacles in which government policies support the unique needs of entrepreneurs and tolerate failed ventures
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Support domain includes non-governmental institutions, infrastructure and the professionals support such as investment bankers, technical experts and advisors.
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entrepreneurship, one isolated element in the ecosystem is rarely sufficient. In regions which have extensive amounts of entrepreneurship, including
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611:"Entrepreneurship Ecosystems and Growth-Oriented Entrepreneurship", Report for the OECD LEED Programme, Paris; Mason, C. and Brown, R. 2014.
337:– following the financial downturn of 2008 and the long-lasting slow growth period, there have been increasing focus towards fostering more
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are peculiar systems of interdependent actors and relations directly or indirectly supporting the creation and growth of new ventures.
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interest, actually or potentially, in there being more entrepreneurship in the region. Entrepreneurship stakeholders may include
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Entrepreneurship
Ecosystem Project then categorizes this framework into these domains: policy, finance, culture, supports,
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is tailored around its own unique environment – it does not seek to be something it isn’t, like the “next
Silicon Valley”
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Hannigan, Timothy R.; Briggs, Anthony R.; Valadao, Rodrigo; Seidel, Marc-David L.; Jennings, P. Devereaux (2022-11-01).
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Hannigan, Timothy R.; Briggs, Anthony R.; Valadao, Rodrigo; Seidel, Marc-David L.; Jennings, P. Devereaux (2022-11-01).
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Metz, Rachel. “Zappos CEO Bets $ 350 Million on a Las Vegas
Startup Scene” MIT Technology Review. July 17, 2013.
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Spigel (2017) The Relational Organization of Entrepreneurial Ecosystems. 41(1): 49-72 DOI: 10.1111/etap.12167
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is relatively free from, or is able to change, the cultural biases against failure or operating a business
700:"A new tool for policymakers: Mapping cultural possibilities in an emerging AI entrepreneurial ecosystem"
546:"A new tool for policymakers: Mapping cultural possibilities in an emerging AI entrepreneurial ecosystem"
148:"Ecosystem" refers to the elements – individuals, organizations or institutions – outside the individual
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that states a Knowledge (XXG) editor's personal feelings or presents an original argument about a topic.
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Culture covers societal norms and success stories that help to inspire people to become entrepreneurs.
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http://www.technologyreview.com/news/516526/zappos-ceo-bets-350-million-on-a-las-vegas-startup-scene/
818:"Clusters and the New Economics of Competition," Harvard Business Review. Retrieved 1 November, 1998.
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is reinforced, not created from scratch, by government, academic or commercial organizations
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There are several key conditions that typically define a healthy ecosystem. The ecosystem:
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Finance domain includes the full spectrum of financial services available to entrepreneurs.
622:"How to Start an Entrepreneurial Revolution" Harvard Business Review. Retrieved June 2010.
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751:""Entrepreneurial Impact: The Role of MIT," Kauffman Foundation. Retrieved February 2009"
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436:"Development of a multi-dimensional measure for assessing entrepreneurial ecosystems"
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Liguori, Eric; Bendickson, Josh; Solomon, Shelby; McDowell, William C. (2019-01-01).
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739:"The Entrepreneurship Ecosystem," MIT Technology Review. Retrieved September 2005.
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Human capital includes education system and the skill level of the workforce.
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483:"Entrepreneurial ecosystem research: present debates and future directions"
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is supported by dialogue among various of the entrepreneurship stakeholders
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Lee, Neil. "Entrepreneurship and the fight against poverty in US cities".
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635:"Rising to the challenge: Entrepreneurship ecosystems and SDG success"
706:. Uncommon Methods and Metrics for Local Entrepreneurial Ecosystems.
552:. Uncommon Methods and Metrics for Local Entrepreneurial Ecosystems.
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System that supports the creation and growth of new ventures
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personal reflection, personal essay, or argumentative essay
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Journal of the International Council for Small Business
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promotes successes, which in turn attract new ventures
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International Entrepreneurship and Management Journal
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Markets cover entrepreneurial networks and customers.
633:Liguori, Eric; Bendickson, Joshua S. (2020-10-01).
271:Policy covers government regulations and support.
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251:, Professor of Entrepreneurship Practice at
529:: CS1 maint: numeric names: authors list (
440:Entrepreneurship & Regional Development
350:University-based entrepreneurship ecosystem
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120:Learn how and when to remove this message
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846:The Dutch Entrepreneurial Ecosystem
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588:. Startup Camel. Archived from
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45:by rewriting it in an
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