Figure 3 Domains of an entrepreneurial ecosystem EARLY CUSTOMERS LEADERSHIP GOVERNMENT Early adopters for Unequivocal support Institutions - investment, support proof-of-concept Social legitimacy Financial support - for R&D, jump start funds Expertise in productizing Open door for advocate Regulatory framework incentives - tax Reference customer Entrepreneurship strategy benefits Research institutions First reviews Urgency, crisis and Venture-friendly legistation Distribution channels Bankruptcy, contact enforcement, property rights and challenge labour EDUCATIONAL INFRASTRUCTURE SUPPORT NON-GOVERNMENT SOCIETAL NORMS INSTITUTIONS PROFESSIONS INSTITUTIONS General degrees Telecommunications Legal Entrepreneurship Tolerance of risk, mistakes, (professional failure Transportation & promotion in non-profits Accounting and academic) Innovation, creativity, logistics Business plan contests Investment bankers Specific experimentation Energy Technical experts, entrepreneurship Social status of entrepreneur incubation advisors training centers, clusters Wealth-creation Ambition, drive, hunger Source: Adapted from Isenberg (2010, 2011).
Figure 3 Domains of an entrepreneurial ecosystem EARLY CUSTOMERS LEADERSHIP GOVERNMENT Early adopters for proof-of-concept Expertise in productizing Reference customer First reviews Distribution channels Unequivocal support Social legitimacy Open door for advocate Entrepreneurship strategy Urgency, crisis and challenge Institutions - investment, support Financial support - for R&D, jump start funds Regulatory framework incentives - tax benefits Research institutions Venture-friendly legistation Bankruptcy, contact enforcement, property rights and labour EDUCATIONAL INSTITUTIONS INFRASTRUCTURE SUPPORT PROFESSIONS NON-GOVERNMENT INSTITUTIONS SOCIETAL NORMS General degrees (professional and academic) Specific entrepreneurship training Telecommunications Transportation & logistics Energy incubation centers, clusters Legal Accounting Investment bankers Technical experts, advisors Entrepreneurship promotion in non-profits Business plan contests Tolerance of risk, mistakes, failure Innovation, creativity, experimentation Social status of entrepreneur Wealth-creation Ambition, drive, hunger Source: Adapted from Isenberg (2010, 2011).
VET-and-entrepreneurship_research-overview.docx