Theory, Evidence and Implications
- Batten Entrepreneurship series
Edited by Phillip H. Phan, Sankaran Venkataraman and S. Ramakrishna Velamuri
Conclusion Phillip H. Phan, Sankaran Venkataraman and S. Ramakrishna Velamuri The ﬁndings of the research chapters contained in this volume raise a number of issues that merit further research. First, studies of entrepreneurial regions all over the world – Silicon Valley and Route 128 in the USA, Baden-Württemberg in Germany, Scotland, Ireland, Bangalore in India, Shanghai in China, Singapore, among many others – have underscored the critical role of governments at diﬀerent levels in the emergence of these regions. Such studies, using an evolutionary approach, have shown that the magnitude of governmental inﬂuence, which is signiﬁcant in the early stages of development, seems to decline in later stages relative to other tangible and intangible factors (see Venkataraman, 2004). The explanations for this vary from the traditional ‘factor substitution’, wherein government ‘kick starts’ the development of a sector, which then becomes attractive for private capital to accumulate, to the post-modern ‘institutionalization’, in which the development of such institutions as intellectual property regimes engender capital accumulation. The research in this volume broadly support this approach, with the exceptions of (1) Arıkan’s study (Chapter 3) on the rise and decline of the media industry in Silicon Alley (New York tri-state area) during the 1990s, largely as a result of the pioneering actions of a number of private individuals and organizations, and (2) the Castanhar et al. study (Chapter 2) on the development of a furniture cluster in a remote area of Brazil, largely as a result of the eﬀorts...
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