Search Results (49)

Output-based indicators in entrepreneurial ecosystem governance systematically misclassify pre-threshold structural progress as policy failure, because feedback dynamics produce no immediate output signal. This study examines how institutional coordination shapes those dynamics. Using system dynamics modelling, we construct a three-stock model (active startups, entrepreneurial capabilities, and institutional support). Calibration is performed via structured expert elicitation using the Repertory Grid Technique (RGT), enabling institutionally grounded parameter estimation where comparable time-series data are unavailable. Three policy scenarios—fragmented support, financial intensification without coordination, and coordinated early intervention—are simulated for Mexico and the United Kingdom. Resource intensification alone yields only temporary gains when feedback structures remain fragmented. Coordinated intervention activates reinforcing feedback among all three stocks, enabling self-sustaining growth beyond a critical coordination threshold. The United Kingdom crosses this threshold earlier due to stronger baseline conditions; Mexico responds later but with larger proportional gains. The model provides a feedback-structural diagnostic that distinguishes pre-threshold structural assembly from genuine stagnation, with direct implications for the design of evaluation frameworks in fragile institutional contexts. RGT demonstrates potential as a calibration strategy for feedback models in data-sparse settings. Full article

This article examines how platform-mediated crisis policy shaped inclusion and exclusion outcomes for small, medium, and micro enterprises (SMMEs) in the Western Cape during COVID-19. Integrating a market-failure perspective with entrepreneurial ecosystem theory, we present a theory-driven secondary analysis of 16 qualitative interviews and policy documents. We map five crisis-amplified failures—finance, markets, digital, institutions, and human capital—onto Isenberg’s six ecosystem domains and analyze how provincial interventions, particularly digital marketplaces, voucher schemes, and online coordination tools, functioned as governance mechanisms regulating access, visibility, and participation. The findings show that platform-mediated interventions accelerated coordination and digital market access but disproportionately benefited already connected firms, leaving institutional and inclusion gaps largely unresolved. We conceptualize sub-national crisis response as a form of platform governance and discuss implications for designing more inclusive digital policy infrastructures in middle-income contexts. Full article

Business failure is an increasingly relevant topic in the field of business management due to its impact on entrepreneurial ecosystems, strategic decision-making, and policy development. Although academic interest in this area has intensified in recent years, significant gaps remain that hinder a comprehensive understanding of its underlying causes and evolving patterns. This study aims to explore the main research trends related to business failure by identifying key thematic developments, influential contributors, and conceptual gaps in the existing academic literature. A systematic literature review was conducted using the PRISMA 2020 protocol, analyzing documents indexed in the Scopus and Web of Science databases. The analysis considered publication trends, most cited authors and journals, contributing countries, and keyword co-occurrence networks to examine the thematic evolution and structure of the field. The findings highlight the need for future research agendas focused on emerging areas such as machine learning, financial distress, entrepreneurial failure, and business failure prediction. Additionally, the study suggests the adoption of interdisciplinary approaches and longitudinal analyses to address the dynamic and multifaceted nature of business failure. By integrating bibliometric and thematic perspectives, this review provides an updated and comprehensive overview of the literature, revealing under-explored topics and research opportunities, and offering valuable insights to guide future scholarly work in this critical area of business research. Full article

The healthy evolution of an entrepreneurial ecosystem relies on the symbiotic relationships among its diverse internal actors. This study addresses a gap in entrepreneurial ecosystem research, which has predominantly focused on two-agent models, by constructing a tripartite symbiotic evolution model that incorporates entrepreneurial ventures, incubation chains, and customers. Based on the Logistic and Lotka-Volterra models, the research identifies the system’s equilibrium points and their stability conditions. Simulations reveal evolutionary paths from parasitism and commensalism to mutualism. A comparative case study of SenseTime (Shanghai, China) and Lanma Technology (Shanghai, China) validates these findings. The comparison shows that an influx of multiple agents, coupled with the core venture’s ability to strengthen key symbiotic coefficients, drives the ecosystem towards a dynamic multi-agent symbiosis in the post-optimization phase. Conversely, the failure to establish these robust reciprocal value flows leads to ecosystem fragility. The results indicate that: (1) Multi-agent entrepreneurial ecosystems are complex systems where symbiotic units form adaptive relationships for value creation, adhering to market laws. (2) The system’s equilibrium depends on symbiotic coefficients, leading to four modes—independent coexistence, parasitism, commensalism, and mutualism—with mutualism being the optimal state. (3) The contrasting cases further demonstrate that the evolution towards mutualism is not automatic but hinges on the core venture’s strategic agency in constructing and strengthening synergistic pathways with forward and backward linkages. This study provides a theoretical model for understanding the evolutionary mechanisms of entrepreneurial ecosystems and offers practical insights for optimizing ecosystem governance. Full article

This study examines why Technical Assistance (TA) interventions often fail to foster entrepreneurial resilience in emerging markets, despite substantial expertise and funding. Through a qualitative case study of an African Development Bank export diversification initiative in Lesotho, we analyze how leadership, knowledge management (KM), and transactive memory systems (TMS) shape TA effectiveness. Using participant-observer methods and stakeholder interviews over 16 months, findings reveal that success depends less on formal diagnostics and more on developing shared mental models, collaborative routines, and organizational memory across diverse actors. Fragmented knowledge, weak coordination, and underdeveloped group learning processes constrained the intervention’s sustainability. The originality of this study lies in its empirical analysis of failure dynamics, offering actionable policy insights for redesigning TA programs around adaptive leadership, knowledge transfer, and collaborative learning. Implications are relevant for practitioners, policymakers, and scholars seeking to enhance global development initiatives. Full article

Grounded in regulatory focus theory, this study investigates the double-edged sword effect of generative AI adoption on sustainable entrepreneurial intentions and its underlying mechanisms. A questionnaire-based survey was conducted among 357 business students from public universities in China. The results reveal that generative AI adoption exerts a double-edged effect: it enhances sustainable entrepreneurial intentions by strengthening sustainable entrepreneurial self-efficacy through a promotion-focused pathway, while simultaneously undermining such intentions by heightening sustainable entrepreneurial fear of failure via a prevention-focused pathway. Moreover, artificial intelligence literacy moderates these relationships, amplifying the positive influence of generative AI adoption on entrepreneurial self-efficacy and attenuating its negative effect on fear of failure. This study enhances understanding of sustainable entrepreneurship amid the rise in generative AI, extends regulatory focus theory, and informs the development of AI-integrated sustainability education in academic institutions. Full article

The forest-based bioeconomy is increasingly recognized as a key pillar of European bioeconomy strategies, with potential to drive sustainable innovation, rural development, and climate action. However, regional disparities persist, particularly in Southern Europe. This study assesses the development of a forest-based entrepreneurial ecosystem located in the Spanish region of Castilla-La Mancha, using an adapted multidimensional framework that considers institutional, supply, and demand-side drivers. Fifteen interviews were conducted with key players in the forestry sector. Results indicate an incipient and fragmented ecosystem: while initiatives such as UFIL Cuenca foster entrepreneurship and innovation, the region lacks three main and different aspects: (i) a coherent strategic vision, (ii) cluster development, and (iii) presents coordination failures. Coordination structures as sectoral roundtables are viewed as critical for the forestry value chain but currently underutilized. The study emphasizes the importance of aligning forest-based resources with supportive entrepreneurial environments—where networks, infrastructure, and institutional mechanisms interact—to enable systemic innovation and sustainable regional development. The findings highlight the need for integrated regional strategies, strengthened governance mechanisms, stable financial resources for regional structures and expanded entrepreneurship support to advance the forest-based entrepreneurial ecosystems in Spain. Full article

Startups are typically concentrated in major urban centers, while their presence in peripheral regions remains limited, raising important questions about the spatial distribution of innovation and entrepreneurship. This study investigates how different types of startups respond to disparities in regional ecosystem factors, with a focus on the role of support mechanisms in shaping location decisions. We conducted a survey of 202 startups, including 157 located in the Tel Aviv metropolitan area and 45 in the peripheral city of Be’er-Sheva. The survey assessed startup typologies such as innovation strategy, international orientation, and R&D intensity, alongside perceptions of the importance and availability of key ecosystem resources. Logistic regression analysis indicated that startups in peripheral regions rely more heavily on government financial support, pointing to a structural market failure that requires targeted policy intervention. In contrast, startups in central regions benefit from stronger proximity-based advantages, particularly collaboration with suppliers and consumers. Startups engaged in open innovation or with international links were especially dependent on external ecosystem resources. These findings highlight the need for differentiated, evidence-based policies to support entrepreneurial activity in peripheral regions, strengthen local innovation ecosystems, and promote more balanced patterns of regional economic development. Full article

This study examines the relationship between fear of failure, entrepreneurial passion, and entrepreneurial self-efficacy among university business students from four emerging Latin American economies: Mexico, Colombia, Peru, and Ecuador. This research addresses the need to understand the psychological factors that influence entrepreneurship, particularly in developing economies. Using non-probability convenience sampling, surveys were distributed between June 2021 and August 2022, and 961 valid responses were obtained. Scales from renowned researchers were used, which were translated and semantically validated in Spanish to measure the three variables. The data were analyzed using structural equation modeling with PLS. The overall results reveal that fear of failure negatively affects entrepreneurial passion, while entrepreneurial passion has a positive and significant relationship with entrepreneurial self-efficacy. Furthermore, entrepreneurial passion has a positive and significant relationship with fear of failure and entrepreneurial self-efficacy, with substantial differences between countries. Gender differences were also identified: in women, all relationships in the model were significant, while in men, the direct effect of fear of failure on entrepreneurial self-efficacy did not reach statistical significance. These findings contribute to the entrepreneurship literature by demonstrating that the relationship between these psychological variables varies by context (country) and gender, contradicting the notion of a universal effect. Full article

In academia, innovation intentions among students are a highly sought-after outcome due to their overarching positive impacts on performance and well-being, especially in the higher education context. This research addresses entrepreneurial education and its influence on innovation intentions across several universities in Beirut, Lebanon. The research also examines the indirect effects of opportunity recognition and psychological capital as mediators and fear of failure as a moderator. Through the lens of the theory of planned behavior, the stimulus-organism-response model, and the entrepreneurial event model, a survey was designed. A total of 263 samples were collected from the students of three universities in Beirut where the academic setting was English, and international students were present. Using Partial Least Squares—Structural Equation Modeling, the data was analyzed, and the hypotheses were supported. Results suggest that the learning environment in universities is a major determinant of innovative outcomes for students. However, implementation of entrepreneurial education alone cannot be as effective as it needs to be; it must be complemented by initiatives that enhance perceptions and internal capabilities of students to achieve innovation in their behaviors. This highlights the vitality of psychological capital and fear of failure in this context. Full article

(1) Background: The survival and growth of startups in their early stages are negatively impacted by the lack of financial sustainability and scarce resources that entrepreneurs face during the first 5 years. This is known as the Valley of Death (VoD). This study seeks to identify key factors that influence the financial sustainability of startups during the VoD, which demands a significant amount of funding and government support. (2) Methods: A quantitative methodology was employed, based on a worldwide literature review that pointed out the variables of the object of study; the information collection process was conducted through a questionnaire applied to 352 entrepreneurs in an innovative ecosystem. This study empirically applies a structural equation model to determine the relationship between constructs. (3) Results: A comprehensive analysis of the results indicates that indicators such as positive sales performance, sufficient financial solvency to meet short- and long-term commitments, accurate pricing policies, and access to government and banking support are the primary factors affecting the sustainability of startups in the early stages. (4) Originality: This study provides original and relevant insights into the indicators that affect the financial sustainability of startups during the VoD and offers interesting insights for governments, institutions, and entrepreneurs to foster innovative ecosystems; it also contributes to the extant literature on early-stage entrepreneurial failures. Full article

The question of what motivates entrepreneurs to maintain and grow their ventures beyond the startup phase remains an underexplored aspect of entrepreneurship research. Using data from the Global Entrepreneurship Monitor, GEM (2023), this study examines four key entrepreneurial motivations among 103 established Croatian entrepreneurs who are making a difference in the world, building great wealth or a very high income, continuing a family tradition, and earning a living. Employing a multivariate multiple regression approach, we analyze how sociodemographic factors, opportunity perception, fear of failure, media influences, and sustainability-oriented mindsets (e.g., UN SDG awareness) influence these diverse motivations. Findings reveal distinct motivational patterns: socially responsible mindsets and awareness of the SDGs primarily drive the aspiration to “make a difference”, while age, perceived opportunities, and fear of failure reinforce the pursuit of wealth. Media narratives uniquely influence the intent to “continue a family tradition”, while necessity-driven motives—linked to fear of failure and lower growth ambitions—predominate among those aiming simply to “earn a living”. By applying a systems thinking approach, this research illustrates how interdependent factors create distinct motivational clusters, and it highlights the importance of tailored policies and support programs for established entrepreneurs seeking sustainable growth. It contributes to the interdisciplinary discourse on entrepreneurship, offering insights for policymakers, educators, and advisors working to foster resilient and innovative entrepreneurial ecosystems. Full article

This paper investigates points of vulnerability in the decisions made by backers and campaigners in crowdfund pledges in an attempt to facilitate a sustainable entrepreneurial ecosystem by increasing the rate of good projects being funded. In doing so, this research examines factors that contribute to the success or failure of crowdfunding campaign pledges using eXplainable AI methods (SHapley Additive exPlanations and Counterfactual Explanations). A dataset of completed Kickstarter campaigns was used to train two binary classifiers. The first model used textual features from the campaigns’ descriptions, and the second used categorical, numerical, and textual features. Findings identify textual terms, such as “stretch goals”, that convey both elements of risk and ambitiousness to be strongly correlated with success, contrary to transparent communications of risks that bring forward worries that would have otherwise remained dormant for backers. Short sentence length, in conjunction with high term complexity, is also associated with campaign success. We link the latter to signaling theory and the campaigners’ projection of knowledgeability of the domain. Certain numerical data, such as the project’s duration, frequency of post updates, and use of images, confirm previous links to campaign success. We enhance implications through the use of Counterfactual Explanations and generate actionable recommendations on how failed projects could become successful while proposing new policies, in the form of nudges, that shield backers from points of vulnerability. Full article

There is a close connection between university student entrepreneurship programs and sustainable development, which are mutually reinforcing: university student entrepreneurship programs provide innovation and vitality for sustainable development, while concepts related to sustainable development can guide the development direction of university student entrepreneurship programs. College students are the driving force of innovation and entrepreneurship. In view of the problems of the failure rate of college students’ entrepreneurial projects, this article constructs a fuzzy comprehensive evaluation model based on the fuzzy comprehensive evaluation method. Then, this study uses the hierarchical analysis method to clarify the comprehensive evaluation indexes affecting the maturity of college students’ entrepreneurial projects and takes a student entrepreneurial project of Qingdao University of Technology as an example. Ultimately, specific suggestions are offered to optimize the maturity of college students’ entrepreneurial projects based on the evaluation results so as to improve the probability of success of college students’ entrepreneurship. Great importance is placed on the quality of university entrepreneurship projects and the sustainability of society in this study. Full article

This study fills a crucial gap by offering fresh insights into healthcare entrepreneurs’ characteristics and decision-making, enriching the understanding of entrepreneurial behavior. Employing a mixed-methods approach, by combining qualitative and quantitative data, the researchers examined how factors such as age, gender, education, number of children, marital status, and house ownership influence business orientation. Utilizing both quantitative data, collected through surveys, and statistical analyses, conducted in EViews 12, data drawn from 113 Romanian medical start-ups revealed that marital status was a significant determinant, with single individuals exhibiting a profit-centric approach, while couples or married entrepreneurs prioritize patient well-being. Also, the lower the sense of ownership, the lower the number of co-founders there was in the start-up. The motivation of entrepreneurs involved in start-ups with more than two co-founders, is based on the motivation behind a problem that directly affected the entrepreneurs themselves. An unexpected result was found regarding the healthcare entrepreneurs that perceive failure more due to lack of funding than competition, especially in profit-focused ventures, shaping their decision-making. To shape managerial implications, the authors depicted the swim lane decision-making process diagram based on these insights. Full article