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Entrepreneurship Ecosystem Summary

Entrepreneurship ecosystem

An entrepreneurial ecosystem or entrepreneurship ecosystem is the social and economic environment affecting the local or regional entrepreneurship. Businesses located within places serving as incubators for creativity, innovation, and entrepreneurship have a greater chance of success. Almost all of the globally successful company formations of the last decades, such as Apple, Yahoo, Google and Facebook were located in one of only two startup ecosystems in the USA - Silicon Valley and Boston. In recent years these tech entrepreneurship ecosystems have been duplicated all over the world and can be : in the USA, New York, Chicago, Austin, and Seattle; and globally, Tel Aviv, Singapore, London, and Berlin. This has led to a series of research papers detailing the characteristics: Suresh, J. and Ramraj, R., 2012 , Uddin, M., Hindu, R.C., Alsaqour, R., Shah, A., Abubakar, A. and Saba, T., 2015 and Bloom, P.N. and Dees, G., 2008It 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 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. The concept of the Triple Helix of University-Industry-Government relationships developed in the 1990s by Etzkowitz (1993) and Etzkowitz and Leydesdorff (1995) lead to a range of government policies which developed local entrepreneurial ecosystems. 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 ecosystem. For example, advisory programs have had some success.

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