Entrepreneurial Ecosystems - Resources Beyond the Venture

Entrepreneurial ecosystems (EEs) are geographically bounded communities of agents whose interactions foster new venture creation. Vibrant EEs provide a profile of entrepreneurial "attitudes, ability, and aspirations" that support venture success. Resources within ecosystems include talent, ideas, tools, mentoring networks, and institutional support. Research reveals that strategic resource exchange between ecosystems enables leaders to balance optimization and innovation of their offerings to entrepreneurs. Social capital—resources embedded in networked communities—facilitates resource exchange and enables ecosystem growth. Entrepreneurs should consider ecosystem characteristics when choosing startup locations, as supportive environments significantly impact venture outcomes.