Entrepreneurial Ecosystems: A Governance Perspective
Entrepreneurial ecosystems have grown in prominence given the vital need to transform economies around the creation of innovative products and services,thereby leading to wealth creation and international competitiveness. Such ecosystems involve a network of interactions of individuals and organizations from business, government and university. Despite the heightened popularity of entrepreneurial ecosystems, more attention is needed on the effective governance of its key stakeholders to ensure that anticipated outcomes are achieved. The current literature focuses mainly on business stakeholders rather than the wider variety of players from government and university who also play a critical role. It also inadequately addresses the governance process in managing these stakeholders to ensure appropriate performance. To address these issues, this study applies network governance theories to the entrepreneurship literature. In so doing, it offers pertinent governance implications to key stakeholders involved in entrepreneurial ecosystems including firms, universities and government agencies.