Entrepreneurial ecosystem development: Consolidating theory into a testable model
Australian and New Zealand Academy of Management
School of Business and Law / Centre for Innovative Practice
This paper explores the notion of the entrepreneurial ecosystem and contributes to theory development with four major advances. First, we synthesize a clear definition of an entrepreneurial ecosystem that reflects emerging theoretical perspectives. Second, we compile existing works that list key entrepreneurial ecosystem components and identify eight aspects of the business environment that are supported by majority consensus in the literature. Third, we argue that entrepreneurial ecosystem theory should also include individual entrepreneurs’ resources and capabilities. Fourth, we integrate these various dimensions into a comprehensive theoretical model of entrepreneurial ecosystem development. We theorise the various causal relations illustrated in our model and explain the effects on overall network performance. Specific theoretical propositions arising from our arguments are presented throughout.