Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/323015 
Year of Publication: 
2020
Series/Report no.: 
U.S.E. Working Papers Series No. 20-01
Publisher: 
Utrecht University, Utrecht University School of Economics (U.S.E.), Utrecht
Abstract: 
An entrepreneurial ecosystem comprises a set of interdependent actors and factors that are governed in such a way that they enable productive entrepreneurship within a particular territory. While the entrepreneurial ecosystem approach is useful to think about regional economies, it currently lacks full-fledged metrics to enable policy. In this paper, we bridge this gap by quantifying and qualifying regional economies using the entrepreneurial ecosystem approach. We operationalize ten elements of entrepreneurial ecosystems for 274 regions in the 28 countries of the European Union. The ecosystem elements show strong and positive correlations between them, confirming the systemic nature of entrepreneurial economies, and the need for a complex systems perspective. Our results show that formal institutions and physical infrastructure take a central position in the interdependence web, providing a first indication of these elements as fundamental conditions of entrepreneurial ecosystems. We then use the elements to calculate an index that measures the quality of entrepreneurial ecosystems. This index is robust and performs well in regressions to predict entrepreneurial output, which we measure using novel data on productive entrepreneurship
Subjects: 
entrepreneurial ecosystem
regional dynamics
entrepreneurship
economic development
economic policy
entrepreneurship policy
Document Type: 
Working Paper

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