“A set of interdependent actors and factors coordinated in such a way that they enable productive entrepreneurship”.Stam (2015)
“Entrepreneurship doesn’t always just naturally happen, and on these occasions, the system needs support to stimulate it. Whilst isolated cases of entrepreneurship can occur, to reach systemic entrepreneurship enough of the ecosystem needs to be in place. Since politicians and regional practitioners are attempting to stimulate entrepreneurial activity in their region, they need to identify how to build a more supportive environment which increases the likelihood of entrepreneurial success”.Entrepreneurship Ecosystem Research Network
Entrepreneurial Ecosystems facilitate the creation of environments conducive to collaboration, synergy, networking and internationalisation.
They further encourage and spur innovation. Evidence shows that domestic and foreign investors are attracted to sectors with strong entrepreneurship ecosystems, such as tech and innovation.
Inspired by research on the importance of entrepreneurship for sustained economic growth and improved well-being, many governments and non-governmental grant-making organizations have sought over the past decade to implement policies and programs intended to support entrepreneurs.
Over this interval, growing appreciation of the limits of strategies focused narrowly on financing or training entrepreneurs has prompted a number of such entities to shift their efforts toward more broad-based strategies aimed at enabling “entrepreneurial ecosystems” at the city or sub-national regional scale. “Enabling the Entrepreneurship Ecosystem-Philip E. Auerswald, October 2015. Ewing Marion Kauffmann Foundation”.