Managing Entrepreneurial ecosystems

There is an increasing policy interest towards entrepreneurial ecosystems. Yet, little is actually known about how entrepreneurial ecosystem works and what the related policy challenges are. Drawing on research on ecological economics and community governance, we develop a theoretical framework for entrepreneurial ecosystem management. Using a Scottish entrepreneurial ecosystem initiative as an example, we conclude that policy approaches that emphasize deep stakeholder engagement are likely to give rise to better informed, targeted, and more effectively implemented policy initiatives in entrepreneurial ecosystems than will ‘market’ and ‘structural’ failure approaches.