A comprehensive assessment of the literature on entrepreneurial ecosystems in advanced and emerging economies

Over the past 10 years, the idea of entrepreneurial ecosystems has drawn much interest from practitioners, politicians, and academics. However, many studies on the entrepreneurial environment have been theoretical and static and have mostly focused on advanced economies. As a consequence, this study achieves two goals. A conceptual model describes three entrepreneurial ecosystem dynamics based on resource, interaction, and governance logic. This starts by extensively evaluating the literature on entrepreneurial ecosystems. Develop a theoretical framework highlighting the salient features of entrepreneurial ecosystems in emerging economies by thoroughly evaluating empirical data on these systems. The following three key findings cast doubt on the model’s capacity to directly extrapolate from entrepreneurial ecosystems in advanced economies to those in poor economies: conservation of resources and structural flaws. In terms of ecosystem dynamics and contextualizing entrepreneurial ecosystems in developing economies, our findings contribute to the knowledge of entrepreneurial ecosystems. In order to promote the creation of new firms, they also talk about the policy implications for developing nations.

Let’s start by thoroughly studying the literature on entrepreneurial ecosystems with an emphasis on mature economies. This study summarises the research on entrepreneurial ecosystems in terms of three ecosystem dynamics. Then, we presented three conclusions using data from a second systematic literature review on empirical investigations of E4s. These two reviews offer crucial insights into the various traits of entrepreneurial ecosystems in advanced and emerging economies, illuminating the relevant policy implications. We wrap off with contributions and policy recommendations to help rising nations control their entrepreneurial ecosystems effectively.

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