Entrepreneurial ecosystems around the world

Abstract

Entrepreneurship is a vehicle of growth and job creation. America has understood it and benefitted most from following this philosophy. Governments around the world need to build and grow their entrepreneurial ecosystems to support the economies and foster innovation. Approaches taken to encourage entrepreneurship vary around the world based on cultural norms, market conditions, and economic circumstances. Entrepreneurial ecosystems are generally comprised of the government, which builds rules and regulations to support entrepreneurship, the angel and venture capital industry, which provide necessary startup and growth capital to support entrepreneurship, the financial market, which provides financial incentives and exit routes for startups, and finally the entrepreneurs, who form teams and start companies. This thesis is an attempt to study and analyze the entrepreneurial ecosystems in the U.S, Europe, and Asia. Primarily relying on interviews with industry experts and supported by academic research, it draws qualitative comparisons of entrepreneurship processes among these regions to understand the differences in these environments.