Synergies, Policy Lessons and Overlooked Dimensions
Edited by Alexandra Tsvetkova, Jana Schmutzler and Rhiannon Pugh
Chapter 8: The complementarity approach to understanding entrepreneurship and innovation ecosystems taxonomy
Research has found that entrepreneurship ecosystems significantly contribute to regional economic development. This study applies a synergy approach to explain how various components of entrepreneurship ecosystems can align with each other to be able to facilitate regional economic development in heterogeneous entrepreneurial ecosystems. Our results provide a general framework formed by four components, which could help develop a taxonomy of territories according to their main characteristics. Based on this approach, it is argued that in cases where a territory lacks one of the four components under consideration, the role of the missing element within the system could potentially be provided by the complementarity between the components that are in place. We applied this framework to the Greater Reading area in the United Kingdom and demonstrated that it is the complementarity between entrepreneurial actors which facilitates entrepreneurship.
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