Description
Title: Unveiling the Transformation of Entrepreneurial Ecosystems: A GEM Based Portrait
Abstract: Academics, practitioners, and policymakers have become interested in entrepreneurial ecosystems (EEs), as they look to find “a winning recipe” that will inspire entrepreneurship in general while taking into account the various EEs pillars. In order to create policies that support entrepreneurship more effectively, it is helpful to understand the extent to which each pillar influences entrepreneurial initiative (EI). This study aims to add a fresh perspective to the field of entrepreneurship research, focusing on how EEs change and how their pillars affect EI. A balanced panel approach based on the Global Entrepreneurship Monitor (GEM) dataset over 8 years (2010-2017), comprising 18 countries, is used to demonstrate how EEs have changed. The study’s discussion of three main issues, which is primarily supported by empirical findings, has several implications for entrepreneurship theory, practice, as well as public policy. The first finding is that the pillars of EE have an unbalanced influence on EI. Results also demonstrate that institutions are ineffective at fostering an entrepreneurial spirit. Third, entrepreneurship must be incorporated into the process of acculturation, demonstrating the significance of societal norms. Therefore, encouraging people to start their own businesses requires more than just giving them the tools and infrastructure. The findings show that contextual factors are generally important in fostering an entrepreneurial propensity to start a business. However, the nine pillars’ influence is not uniform, showing a fragmented impact with funding policies, R&D transfer, and social and cultural norms that discourage entrepreneurial initiative. Overall, the study advances knowledge of EEs from a multifaceted perspective and suggests future policy directions to address the lack of entrepreneurship and correct ineffective entrepreneurship policies.
Keywords: entrepreneurial ecosystems; entrepreneurial initiative; entrepreneurial ecosystem qual- ity; GEM
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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