Entrepreneurial Ecosystems

Professor Alex Maritz

a.maritz@latrobe.edu.au

The term entrepreneurial ecosystem was primarily developed when Daniel Isenberg explored the
domains of entrepreneurial ecosystems a decade ago (Isenberg, 2009). Entrepreneurial ecosystems
are a set of interconnected entrepreneurial actors, organisations, institutions and entrepreneurial
processes, which formally and informally coalesce to connect, mediate and govern performance
within the local entrepreneurial environment, involving a dynamic and systematic nature, within a
supportive environment (Shwetzer, Maritz & Nguyen, 2019). Recent studies have explored the
importance and reliance of entrepreneurial ecosystems to successful ventures, embracing attributes
of successful start-up communities and entrepreneurial ecosystem elements. These include domains
(as depicted in the figure below), leadership, intermediaries, networks, talent, support services,
engagement, capital, accessible markets, funding and finance, education and training, regulatory
frameworks and infrastructure, culture, social networks, governance and policies. The
entrepreneurial ecosystem is certainly dynamic in nature, reliant on institutional perspectives and
performance oriented; providing substance of the vital role played in enhancing start-ups and
successful ventures. The domains of entrepreneurial ecosystems are identified below.