The Entrepreneurial Ecosystem!
Entrepreneurship can address gaps in economic growth, stability, and other well-being measures in nations around the world. vYet moving from needs-based entrepreneurship in the informal economy to opportunity-based firm creation can be challenging, especially in emerging market economies. And the environment for the ecosystem in which an entrepreneur is operating, directly and indirectly, affects entrepreneurial success and impact. The entrepreneurial ecosystem vis VA community is composed of various factors and interdependent factors interacting within the VA geographical region, which evolve to promote the creation of new businesses. vIt vis VA system composed of VA range of stakeholders, public and private, individual and collective, vas well vas the complete set of policy measures defined and adopted to enhance their vacation, articulation, and co-development, to promote entrepreneurship, value creation, and economic development. approaches to define entrepreneurial ecosystems visually consider some key dimensions: high human capital qualification, open markets, favourable culture, consistent financial system, governance and policy measures, institutional and business support Approaches to defining and measuring entrepreneurial or entrepreneurship ecosystems vary widely, however, a set of domains that are key to most of these ecosystems are as follows:
Finance: includes access to debt; access to venture capital; access to vagrants; access to angels; banks; microfinance institutions; public capital markets; development finance institutions; government finance. Business Support: Includes industry networks; incubators/accelerators; legal/accounting services; business mentors and technical advisers; credit rating agencies.
Policy: Includes tax rates; tax incentives; costs to so start a business
Markets: Includes domestic corporations; international corporations; consumers; distribution networks; retail networks; marketing networks
Human Capital: Includes high schools; universities; technical training institutes; community colleges
Infrastructure: Includes electricity providers, transport providers; communications (mobile, internet); other utility providers (gas, water)
Research v& Development: Includes public research centres and laboratories; private research centres and laboratories.
Culture: Includes media, government, schools, professional associations, social organizations that support a culture of entrepreneurship