Entrepreneurial and Business Start-up Ecosystem
Fostering entrepreneurship has become a core component of economic development in cities and countries around the world. The metaphor for fostering entrepreneurship as an economic development strategy is the “entrepreneurial ecosystem”. Entrepreneurial ecosystem are similar to all complex systems; one component considered in isolation from the others does not suffice to differentiate a “good”entrepreneurial ecosystem from a “less supportive” one. Just as in biological ecosystems, it is the constant interaction of the components and the networks that are created, which define the ecosystem. The entrepreneurial ecosystem can vary overall they consists of :
Conducive Culture e.g. cultural support, mentors, support agency, governments etc.
Enabling policy and leadership
Availability of appropriate finance e.g. funding
Quality human capital e.g. workforce
Venture-friendly markets for products
Range of institutional support
Resources :
https://iidjournal.wordpress.com/2017/01/31/ce-entrepreneurial-and-business-start-up-ecosystem/