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1. marchese oecd findings on ecosys and growth oriented entrepreneurship

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1. marchese oecd findings on ecosys and growth oriented entrepreneurship

  1. 1. OECD FINDINGS ON ENTREPRENEURIAL ECOSYSTEMS AND GROWTH-ORIENTED ENTREPRENEURSHIP Marco Marchese, Economist OECD Centre for Entrepreneurship, SMEs and Local Development Local Economic and Employment Development Division marco.marchese@oecd.org
  2. 2. OECD background work • Entrepreneurship, SMEs and Local Development Reviews – Helicopter view on issues and policies affecting entrepreneurship and SME development (systemic and policyoriented perspective) • Thematic work on growth-oriented entrepreneurship – Empirical analysis on local distribution and local determinants of HGFs (DE, IT, UK, DK, BE) – Thematic seminars (Copenhagen, Warsaw, The Hague) – Comparative analysis of programmes for HGFs
  3. 3. Main areas affecting entrepreneurship and SME development (OECD reviews approach) • • • • • • Entrepreneurial attitudes Entrepreneurship skills Innovation and knowledge networks Access to finance Business support infrastructure Strategy and policy delivery
  4. 4. What is new in the ecosystem approach • Role of leader & serial entrepreneurs – Successful enterprises are the main incubators of new entrepreneurship, i.e. waves of spinoffs • Importance of connectors, i.e. the glue of the system • Supportive conditions emerge spontaneously after early wave of spinoffs (C. Mason) … • … Ecosystems become self-sustainable after a certain stage of development (D. Isenberg)
  5. 5. What is the role of policy in the ecosystem? • Being connector and facilitator? • Setting right framework conditions (taxation, EPL, PMR)? • Or anything more proactive (mgmt. skills dev., equity fin., res. comm.)? • And if there is a more proactive role: – how do ecosystem policies differ from cluster policies? – How do we facilitate/build growth-oriented entrepreneurial ecosystems?
  6. 6. OECD main findings on HGFs may provide some ideas (+):pos.rel.; (-):neg.rel.; (~):nonlinear rel.; (=):no rel.; *: in line with prevailing evidence • Macro sector*: greater incidence of HGFs in services • Age (-)*: young firms more likely to become HGFs • Tech-intensity (+)*: greater incidence of HGFs in high-tech sectors than non high-tech • Non-tech innovation (+)*: firms investing in IAs more likely to become HGFs • Ownership*: greater incidence of HGFs among foreignowned firms • Debt financing (~)*: firms receiving debt financing more likely to achieve HG only up to a certain threshold
  7. 7. … continued • Population density (+)*: positively influence incidence of HGFs through agglomeration economies (complementary services, inputs) • Tertiary education (+)*: positively influence incidence of HGFs through skilled entrepreneurship and LF. • High Unemployment & low GDP GR (=): HGFs born global and thus less sapped by adverse local PM & LM conditions?
  8. 8. Policy implications from a growthoriented ecosystem perspective • Environment conducive to start-ups – Social (entrepreneurial culture) and organisational norms (not hampering spinoffs) • Strong local knowledge base (R&D and non-R&D) – Knowledge flows (inter-firm and industry-university collaboration) creating entrepreneurial opportunities • • • • Openness to external sources of knowledge and markets Educated and skilled labour force Right mix of financing sources Macro conditions are not so important, but agglomeration economies are.
  9. 9. Discussion points • Is this list exhausistive? Is it wrong? • Where does it make sense to encourage a growth-oriented entrepreneurial ecosystem? How?

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