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Startup ecosystems generally encompass the network of interactions between people, organizations, and their environment. Any particular start-up ecosystem [9] is defined by its collection of specific cities or online communities. In addition, resources like skills, time, and money are also essential components of a start-up ecosystem.
Drawing from examples from around the world, the article proposes that entrepreneurs are most successful when they have access to the human, financial and professional resources they need, and operate in an environment in which government policies encourage and safeguard entrepreneurs. This network is described as the entrepreneurship ecosystem.
A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. [1] [2] While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to go public, startups are new businesses that intend to grow large beyond the solo-founder. [3]
The concept ecosystem in economy and business stems from the ecosystem concept in ecology. Some environmentalists, however, have used "business ecosystems" as a way to talk about environmental issues as they relate to business rather than as a metaphor to describe the increasing complexity of relationships among companies.
More recently in 2020, Debapratim Purkayastha, T. Tripathy and B. Das extended the business ecosystem literature to the social policy and social entrepreneurship arena. They developed a comprehensive ecosystem model in the context of the Indian microfinance sector that can be also used by other social enterprises as a framework to understand ...
In Europe, the first accelerator program was started by Accelerace in 2009 in Denmark (strongly subsidised by the Danish government) followed shortly after by Startup Wise Guys in 2012 in Estonia. With the growing popularity of seed accelerator programs in the US, Europe has seen an increase in accelerators to support a growing startup ecosystem.
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Innovation is often the result of the interaction among an ecology of actors, and the term innovation ecosystem is occasionally used to emphasise this. For some, the expression innovation ecosystem is a subset or synonym of innovation system.