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Healthy Entrepreneurial Ecosystems

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What is a healthy entrepeneurial ecosystem? …

What is a healthy entrepeneurial ecosystem?
Answer + application to the Netherlands

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  • 1. A Healthy Entrepreneurial Ecosystem Workshop Entrepreneurial Ecosystems, Utrecht, 14 July 2014 Prof Dr Erik Stam
  • 2. NL employment of the 5 largest multinational firms, 1985-2012 (-74%) 0 10000 20000 30000 40000 50000 60000 70000 80000 1985 1997 2003 2007 2012 Philips DSM AKZO Shell Unilever
  • 3. Outline I. Entrepreneurial Ecosystem concept II. NL situation: Entrepreneurship Paradox III. NL policy
  • 4. I. Entrepreneurial Ecosystem Concept
  • 5. A Healthy Entrepreneurial Ecosystem? An entrepreneurial ecosystem is an interdependent set of actors that is governed in such a way that it enables entrepreneurial action
  • 6. Entrepreneurial activity Entrepreneurial Ecosystem Elements
  • 7. Formal institutions Framework conditions Systemic conditions Culture Networks Leadership Finance Talent Physical infrastructure Demand New knowledge Innovative start-ups High-growth start-ups Entrepreneurial employee activity Productivity Income Employment Well-being Support services / intermediaries Value creation Outcomes Outputs Entrepreneurial activity Entrepreneurial Ecosystem Elements
  • 8. Formal institutions Framework conditions Systemic conditions Culture Networks Leadership Finance Talent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements The framework conditions that enable/constrain the development and interaction of actors in the entrepreneurial ecosystem
  • 9. Formal institutions Framework conditions Systemic conditions Culture Networks Leadership Finance Talent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Hermann Hauser - Cambridgeshire
  • 10. Formal institutions Framework conditions Systemic conditions Culture Networks Leadership Finance Talent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements
  • 11. II. NL situation: Entrepreneurship Paradox
  • 12. A Healthy NL Entrepreneurial Ecosystem?
  • 13. NL: Entrepreneurship Paradox • Amazing growth of entrepreneurship in the Netherlands, 1987-2012 • Miracle: no country in which the TEA rate has grown as much as in the Netherlands over the period 2003-2012 (and precourse of rising new firm formation and self-employment) • Paradox: increasingly a matter of growing number of solo self-employed, and low/mediocre rates of growth-oriented entrepreneurship
  • 14. Formal institutions Framework conditions Systemic conditions Culture Networks Leadership Finance Talent Physical infrastructure Demand New knowledge Innovative start-ups High-growth start-ups Entrepreneurial employee activity Productivity Income Employment Well-being Support services / intermediaries Value creation Outcomes Outputs Entrepreneurial activity Entrepreneurial Ecosystem Elements NOT SELF-EMPLOYMENT & NEW FIRMS PER SE
  • 15. Self-Employment & New Firms, NL
  • 16. Solo Self-Employed & Employers, NL
  • 17. Formal institutions Framework conditions Systemic conditions Culture Networks Leadership Finance Talent Physical infrastructure Demand New knowledge Innovative start-ups High-growth start-ups Entrepreneurial employee activity Productivity Income Employment Well-being Support services / intermediaries Value creation Outcomes Outputs Entrepreneurial activity Entrepreneurial Ecosystem Elements NOT SELF-EMPLOYMENT & NEW FIRMS PER SE
  • 18. 0 1 2 3 4 5 6 7 8 9 10 11 12 Belgium Germany Netherlands Sweden UK Israel US Job growth expectations start-ups (2013) 20 or more jobs 5-19 0-5 Shareoftheadultpopulation
  • 19. Entrepreneurial Employees
  • 20. (Eco)systemic Causes & Consequences • Positive feedback: virtuous circle (for self-employment!) Changing preferences Changing formal institutions Lower entry barriers Higher entry rates + Context: high labour protection, concentrated financial sector, + Shocks: 1997-2001 dot.com boom&bust 2008+ financial crisis
  • 21. Rise of solo-self employment • more relevant as condition for entrepreneurial ecosystem (“culture”), than as output • But…, might be indicator of lack of ambitions, and constrained labor mobility as well
  • 22. (Eco)systemic Causes & Consequences • Negative/no feedback – No build up of system for high-growth start-ups (vicious circle high-growth start-up scandals early 2000s: Baan, World Online) a) Mobility of skilled labour: employment protection legislation, non compete clauses b) Capital market: VC, trade-sales, IPO c) Lack of venturesome demand: innovative procurement d) a)+b): Lack of serial entrepreneurs/informal investors – No champion of intrapreneurship, like Nordic countries (in spite of high levels of trust, knowledge work, and decentralized decision making)
  • 23. III. NL Policy
  • 24. Towards a Healthy NL Entrepreneurial Ecosystem
  • 25. Formal institutions Framework conditions Systemic conditions Culture Networks Leadership Finance Talent Physical infrastructure Demand New knowledge Innovative start-ups High-growth start-ups Entrepreneurial employee activity Productivity Income Employment Well-being Support services / intermediaries Value creation Outcomes Outputs Entrepreneurial activity Entrepreneurial Ecosystem Elements
  • 26. Framework conditions • changing formal institutions to enable labor mobility (development and circulation of talent); • opening up public demand for entrepreneurs, to provide finance for new knowledge creation and application; • stimulating a culture of ambitious entrepreneurship and entrepreneurial leadership; • adapting or creating physical infrastructure to enhance knowledge circulation and networks.
  • 27. Improved Monitoring of Entrepreneurial Ecosystem(s) • National • Regional • Corporate • …
  • 28. Entrepreneurial Ecosystem Index NL ?
  • 29. Entrepreneurial Ecosystem Index NL 0 2 4 6 8 10 12 14
  • 30. Regelgeving Cultuur Netwerken Leider- schap Finan- ciering Talent Fysieke infrastructuur Vraag Nieuwe kennis DV Bedrijven Noord-Brabant
  • 31. Research agenda • What is the effect of leadership, role models, mentoring on entrepreneurial activity? • Relevant context(s)? – Region, country, corporation, … • Relative weight, interdependence, and evolution of entrepreneurial ecosytem elements? • Better measures • …
  • 32. Conclusions • Entrepreneurial ecosystem approach provides new insights for public policy and entrepreneurial leadership (leaders & feeders) • Entrepreneurial ecosystem analysis as starting point for discussions about changing framework conditions and systemic conditions
  • 33. A Healthy Entrepreneurial Ecosystem Workshop Entrepreneurial Ecosystems, Utrecht, 14 July 2014 Prof Dr Erik Stam