ABSTRACT

This chapter demonstrates an understanding of entrepreneurial activities from an ecosystem perspective. The study of an entrepreneurial ecosystem involves complex relationships of entrepreneurial firms with key players, contexts, and ingredients such as government agencies, industry and trade association, consumers, investors, financial institutions, capital markets, national culture as well as natural and geographic factors. Diversity has an important role and function in an ecosystem. In a natural ecosystem, prevalence of poor-quality species is one of the main causes of low productivity and destruction of the ecosystem. This phenomenon has a striking and interesting parallel to the functioning of the entrepreneurial ecosystem. Coworking spaces, incubators, and accelerators are among the most important components of an entrepreneurial ecosystem. Some entrepreneurial firms and policy makers have utilized a geographic location as a value proposition. For instance, Data Islandia, an Iceland-based company, wants to develop Iceland as the world's data storage center.