ABSTRACT
The impact of the ecosystem on entrepreneurship is discussed in this chapter through a reciprocal, dynamic perspective that portrays the dependence of entrepreneurs and the ecosystem on dynamic changes in the environment, the interests of members in the ecosystem, and the processes introduced by different members of the ecosystem to entrepreneurs; for example, know-how, R&D, networks, talent, expertise, infrastructure for startup development, finance, global mindset, entrepreneurial culture, and regulations and public policy oriented to, and supporting, entrepreneurship. The main representatives of the ecosystems are depicted: venture capital companies that provide not only financing, but a full solution; banks that introduce plans specifically created for startups and offer affordable and attractive packages; governments that play an important role in entrepreneurship through governance, regulations, policies, and a general ‘vibe’ of acceptance; and the private sector that is imperative in entrepreneurship emergence, especially as the public sector is unable to fulfill all of the entrepreneurial business’s needs, and the private sector can fill the void through financing, mentoring and providing other resources. The international outlook is presented, followed by the urban and municipal perspectives, representing the entrepreneurial cities and communities. The chapter wraps up with a case study on the In–Residence Program of J. P. Morgan in NYC, that boosts innovation, improves the global bank’s business, and has a substantial effect on the ecosystem.
