Navigating the entrepreneurship support system. Super-project.eu Lecture 3
1 2 3 4 Aims for the session What is a support system? Ecosystems – supporting entrepreneurs Summary Contents
Aim for the session • By the end of the session, students will: • Understand the concept of the entrepreneurship support ecosystem. • Understand what support is available within an ecosystem. • Understand how various support can assist in successful entrepreneurial activity
What is a support system? ..and why is it important for successful entrepreneurial activity?
What is a support system? • A support system is designed to support entrepreneurial activity in order to be successful. • A number of resources are available for entrepreneurial activities. Examples include: • Training and skills improvement, • Financial assistance • Business advice • Networking opportunities • Access to cutting edge knowledge etc… • This system of support is often referred to as an ‘ecosystem’ in the entrepreneurial context. It can be regional or national in scope.
Why is it important for successful entrepreneurial activity (1)? • Societal well-beiInstitutions, governments, business communities and societies recognise entrepreneurship as essential to; • Economic, Social and industrial development • Wealth creation • ng • “Europe’s economic growth and jobs depend on its ability to support the growth of enterprises. Entrepreneurship creates new companies, opens up new markets, and nurtures new skills…” as the key to ignite growth…(and so our objective is to)…encourage people to become entrepreneurs and also make it easier for them to set up and grow their businesses” • (European Commission, 2016).
Why is it important for successful entrepreneurial activity (2)? Developed entrepreneurial ecosystems in a particular region can both encourage and support regional entrepreneurial activity. Neck et al (2004)
Elements of entrepreneurial ecosystems. • Public institutions and Initiatives • Regional level • National and local level • Business Incubators, accelerators & start-up labs • Industry and private support • Financial support systems • Internet resources • (SUPER project, 2017)
Summary • 1) Ecosystems exist to support entrepreneurial activity. This because; • Entrepreneurship drives economic, social and industrial growth • Entrepreneurship creates wealth • Entrepreneurship contributes to societal wellbeing. • 2) A range of support services and resources combine to create entrepreneurial support ecosystems at local, national and regional levels. • 3) Each element of the entrepreneurial support ecosystem helps drive successful entrepreneurial activity in different ways.
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