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Entrepreneurship ecosystem
The document discusses the critical components of entrepreneurship, emphasizing the role of human capital, market support, and financial resources in fostering successful ventures. Key elements include the influence of culture, government policies, and societal norms on entrepreneurial activity, as well as the importance of networks, training, and legal frameworks. It highlights various sources of financial support, such as micro-loans and venture capital, in driving innovation and wealth creation.
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Entrepreneurship ecosystem
- 1. Entrepreneurship Human Capital Supports Markets Policy Finance Culture Leadership Government FinanceCapital Success stories Societal norms Non-Governmental Institutions Support professions Infrastructure Educational Institutions Labor Networks Early Customers Micro-loans Angel investors, friends and family Zero-stage venture capital VC funds Private Equity Public Capital Markets Debt Visible successes Wealth generation of founders International reputation Tolerance of risk, mistakes, failure Innovation, creativity, experimentation Social status of entrepreneur Wealth creation Ambition, drive, hunger Entrepreneurship promotion in non-profits Business plan contests venture capital Conferences Entrepreneur-friendly associations Legal Accounting Investment bankers Technical experts, advisors Telecommunications Transportation & logistics Energy Zones, incubation centers, clusters General degrees (professional and academic) Specific entrepreneurship training Skilled and unskilled Serial entrepreneurs Later generation family Entrepreneur’s networks Diaspora networks Multinational corporations Early adopters Expertise in productizing Reference customer First reviews Distribution channels Unequivocal support Social legitimacy Open door for advocate Entrepreneurship strategy Urgency, crisis and challenge Institutions e.g. Investment, support Financial support e.g. for R&D, jump start funds Regulatory framework Incentives e.g. Tax benefits Research institutes Venture-friendly legislation e.g. bankruptcy, contract enforcement, property rights, and labor Ilia Kenigshtein, 2014