Defining networks in entrepreneurial ecosystems

The openness of ecosystems

Bibliographic Data

ID14868451
AuthorsDaniel Prokop (0000-0002-6394-6149, Cardiff University, corresponding author), Piers Thompson (0000-0003-1961-7441, Nottingham Trent University)
Year2023
Volume61
Issue2
Pages517-538
Publication date2023-08-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueSmall Business Economics (JOURNAL)
Journal identifiersISSN: 0921-898X • E-ISSN: 1573-0913
PublisherSpringer Science and Business Media LLC (PUBLISHER)
DOI10.1007/s11187-022-00710-w
OpenAlexW4310679743
LanguageEN
Citations received13
References cited104

The paper draws on network theory to employ concepts of homophily and heterophily to investigate whether the presence of familiar, unfamiliar or a mix of actors in an entrepreneurial ecosystem is related to start-up rates. The empirical focus of this study is on 81 UK university entrepreneurial ecosystems and their outputs in terms of academic spinoff companies. The paper finds that university entrepreneurial ecosystems with access to actors of predominantly heterophilious character are associated with higher spinoff start-up rates. It is concluded that in stimulating the development of successful entrepreneurial ecosystems there is a clear need to focus on their openness to heterophilious actors, inclusive of other ecosystems. This is especially important in the context of network lock-in that may arise from dependence on homophilious ties. Plain English Summary Entrepreneurial ecosystems characterised by openness to diverse actors generate more firms, as shown in a study focusing on 81 UK university entrepreneurial ecosystems. The paper studies network character of actors in entrepreneurial ecosystems and whether this character is associated with start-up rates. Specifically, it focuses on the familiarity of actors, inspecting whether it is related to greater venture formations. In so doing, the study examines 81 UK university entrepreneurial ecosystems. It finds that university entrepreneurial ecosystems that generate more ventures are associated with having a presence of actors of unfamiliar character, drawing attention to the openness of ecosystems’ networks. The key implication of the study is in recognising the link between the ecosystem’s openness to diverse actors and its entrepreneurial performance

Biology · Business · Context (archaeology · Ecosystem · Entrepreneurship · Openness to experience · Sociology · Entrepreneurship Studies and Influences · Innovation and Socioeconomic Development · Private Equity and Venture Capital · Psychology · Social Psychology · Ecology · Marketing

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