Entrepreneurial ecosystem
Encyclopedia
An entrepreneurial ecosystem, in a broader sense refers to the environment affecting the local/regional entrepreneurship
.
But it can also be a group of companies, including start-ups
, and one or more coordination entities, which share similar goals and decide to form a network
or organization in order to explore economies of scale
combined with flexibility
and strong entrepreneurial drive. Economies of scale
can be explored in business functions such as business development
, financing, market analysis
, marketing communications
, IT / MIS
infrastructure, human capital management, legal support, financial
& accounting management
while each participating start-up
focuses to research & development, product Management
, sales
& pre-sales / after-sales support.
Some researchers believe governments have little effect to create an ecosystem for entrepreneurship . Nonetheless, the entrepreneurial ecosystem idea does lend itself to entrepreneurship policy, where targeted programs can be developed to plug the gaps in the eco-system. For example advisory programs have had some success
.
Entrepreneurship
Entrepreneurship is the act of being an entrepreneur, which can be defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". This may result in new organizations or may be part of revitalizing mature organizations in response...
.
But it can also be a group of companies, including start-ups
Startup company
A startup company or startup is a company with a limited operating history. These companies, generally newly created, are in a phase of development and research for markets...
, and one or more coordination entities, which share similar goals and decide to form a network
Business networking
Business networking is a socioeconomic activity by which groups of like-minded businesspeople recognize, create, or act upon business opportunities. A business network is a type of social network whose reason for existing is business activity...
or organization in order to explore economies of scale
Economies of scale
Economies of scale, in microeconomics, refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit...
combined with flexibility
Flexibility
Flexibility may refer to:* Flexibility , the distance of motion of a joint, which may be increased by stretching* Flexibility , in the field of engineering systems design, designs that can adapt when external changes occur...
and strong entrepreneurial drive. Economies of scale
Economies of scale
Economies of scale, in microeconomics, refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit...
can be explored in business functions such as business development
Business development
A subset of the field of commerce, business development comprises a number of techniques and responsibilities which aim at:1. Researching new types of business/products/services with an emphasis on identifying gaps in the mitigation of needs of potential clients .2. Attracting new customers3...
, financing, market analysis
Market analysis
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and this in turn of the global environmental analysis. Through all these analyses the chances, strengths, weaknesses and risks of a company can be...
, marketing communications
Marketing communications
Marketing Communications are messages and related media used to communicate with a market...
, IT / MIS
MIS
The abbreviation MIS may refer to:*Miś , a 1980 Polish film directed by Stanisław Bareja*mis, ISO 639-2 and ISO 639-3 three-letter language code for uncoded languages-Biology:...
infrastructure, human capital management, legal support, financial
Managerial finance
Managerial finance is the branch of finance that concerns itself with the managerial significance of finance techniques. It is focused on assessment rather than technique....
& accounting management
Accounting management
Accounting Management is the practical application of management techniques to control and report on the financial health of the organization. This involves the analysis, planning, implementation, and control of programs designed to provide financial data reporting for managerial decision making...
while each participating start-up
Startup company
A startup company or startup is a company with a limited operating history. These companies, generally newly created, are in a phase of development and research for markets...
focuses to research & development, product Management
Product management
Product management is an organizational lifecycle function within a company dealing with the planning, forecasting, or marketing of a product or products at all stages of the product lifecycle....
, sales
Sales
A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
& pre-sales / after-sales support.
Some researchers believe governments have little effect to create an ecosystem for entrepreneurship . Nonetheless, the entrepreneurial ecosystem idea does lend itself to entrepreneurship policy, where targeted programs can be developed to plug the gaps in the eco-system. For example advisory programs have had some success
.
See also
- Business clusterBusiness clusterA business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally. In urban studies, the term agglomeration is used...
- Economies of agglomerationEconomies of agglomerationThe term economies of agglomeration is used in urban economics to describe the benefits that firms obtain when locating near each other . This concept relates to the idea of economies of scale and network effects...
- Innovation systemInnovation systemThe concept of the innovation system stresses that the flow of technology and information among people, enterprises and institutions is key to an innovative process...
- Collaborative innovation network
- CoworkingCoworkingCoworking is a style of work which involves a shared working environment, sometimes an office, yet independent activity. Unlike in a typical office environment, those coworking are usually not employed by the same organization. Typically it is attractive to work-at-home professionals, independent...