Economic Development
Ecosystem for entrepreneurship, 
In this 5 minute blog, you can read which factors are essential for an entrepreneurial ecosystem. An ecosystem that helps countries with economic development. Supplemented by 6 factors, determinants, that enable tailor-made solutions for the entrepreneur and accelerate the process of economic growth.
Despite a high probability of failure, new companies, starters and startups add value to an economy in a country. Therefore, the added value would be even higher
if these companies can grow or even become a gazelle (high growth companies; 3 years in a row an employee growth of 20%+). In addition, the local entrepreneur has a crucial role in achieving success, so strong growth. For example, good preparation and connecting the entrepreneur’s business and personal goals to his or her entrepreneurial competences greatly increase the chances of success.
Entrepreneurial Development
E-Scan offers an online platform for entrepreneurial development.With the E-Platform, the knowledge and services of coaches and experts coincide seamlessly with the organizational strength of support organizations, such as industry associations, incubators and chambers of commerce. Moreover, it gives policymakers the opportunity to meet the needs of different interests. By tailoring guidance to the person of the entrepreneur (customisation), a stronger ecosystem for entrepreneurship can be built locally. Thanks to the E-Platform, this guidance can be scaled up nationally.
A good example of an entrepreneurial ecosystem that can work successfully at regional and national level is ‘Ik Start Smart’ (OECD, 2014). This implementation program has demonstrated the value and impact of the E-Platform and the E-Scan as an instrument for measuring and developing the entrepreneur . It significantly increases his or her chances of survival after five years. In contrast to the national average of 49% survival rate, the chances of being still in business with a company rise to 89% after five years.
The economic and social added value: more prosperity and well-being
The goal of economic policy is generally economic growth. This means concretely:
- more companies;
- more jobs;
- a strong competitive position;
- more innovation
- more sustainability and attention to the (environmental) environment.
Furthermore, the goal of innovative power and competitive advantage stems from the need for wealth and prosperity. The more prosperous a country, the more productive and innovative companies need to become to remain competitive and to grow wages and prosperity. The European Union always emphasizes the importance of innovation and creativity through entrepreneurship. For example, the European Union identifies the link between creativity, the innovation process and entrepreneurial activity as essential tools to maintain prosperity and find ways to a sustainable society; welfare. Well-being is growing in importance in relation to wealth.
The added value of entrepreneurship policy
More countries are moving towards a more entrepreneurial society. Entrepreneurial education, enterprising employees ( intrapreneur ), and people who want to start a business at their own expense and risk. Space to do business. Moreover, the appreciation for creativity, risk-taking and entrepreneurship is growing. Entrepreneurs and entrepreneurial behavior are necessary to keep up in an uncertain and dynamic environment. However, the quality and infrastructure of the (new) companies are also important for sustainable growth. For example, the quality and survival rate of new companies increases by:
- individual guidance (tailor-made), before and after the start
- development of entrepreneurial competences (qualities, characteristics, motivation and knowledge)
- money and funding at the right time
- contact with other companies that are in the same business phase
Scientists published an interesting article: ‘ Entrepreneurial Ecosystems .’ Freely translated as the ecosystem for entrepreneurship. The framework provides an overview of actors and a context for the development of start-ups and (ambitious) entrepreneurship.
