Ecosystem for Ambitious Entrepreneurship in Flanders Why the next will be in Flanders Prof Dr Erik Stam Chair of Strategy, Organization & Entrepreneurship.

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Presentation transcript:

Ecosystem for Ambitious Entrepreneurship in Flanders Why the next will be in Flanders Prof Dr Erik Stam Chair of Strategy, Organization & Entrepreneurship Utrecht University School of Economics

Ecosystems for Ambitious Entrepreneurship I.Transitions towards ambitious entrepreneurship & new value creation II.Entrepreneurial Ecosystems III.Dynamics of Ecosystems

Your definition?

Ambitious entrepreneur (Stam et al. 2012: 40): An individual who identifies and exploits opportunities to create new products, services, processes and organizations with high aspirations to achieve entrepreneurial success - i.e. to maximizing value creation (beyond self-sufficiency)

Entrepreneurship in Flanders (GEM 2014) Low level of Total Entrepreneurial Activity (TEA) Low level of Growth-oriented TEA

Growth-oriented Entrepreneurial Activity (GEM 2014)

Ambitious entrepreneur (Stam et al. 2012: 40): An individual who identifies and exploits opportunities to create new products, services, processes and organizations with high aspirations to achieve entrepreneurial success - i.e. to maximizing value creation (beyond self-sufficiency)

Ecosystems for Ambitious Entrepreneurship I.Transitions towards ambitious entrepreneurship & new value creation II.Entrepreneurial Ecosystems III.Dynamics of Ecosystems

Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Aggregate Value creation Outcomes Outputs Ambitious Entrepreneurship Entrepreneurial Ecosystem Elements

Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Aggregate Value creation Outcomes Outputs Ambitious Entrepreneurship

Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Aggregate Value creation Outcomes Outputs Ambitious Entrepreneurship

Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Aggregate Value creation Outcomes Outputs Ambitious Entrepreneurship

Flanders’ Entrepreneurial Culture

Ecosystems for Ambitious Entrepreneurship I.Transitions towards ambitious entrepreneurship & new value creation II.Entrepreneurial Ecosystems III.Dynamics of Ecosystems

Formal institutions Framework conditions Systemic conditions Culture Physical infrastructure Demand Aggregate Value Creation Outcomes Outputs Entrepreneurial Activity Entrepreneurial Ecosystem Elements NetworksLeadershipFinanceTalentKnowledge Support services / intermediaries

Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Hermann Hauser - Cambridgeshire 1978

Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Hermann Hauser - Cambridgeshire

Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Hermann Hauser - Cambridgeshire Two types of people: leaders (entrepreneurs) and feeders (people who support startups, such as government agencies, funders, service providers). While the "feeders" are the very fabric of the community, the entrepreneurs must be in the lead. Brad Feld (2012)

Formal institutions Framework conditions Systemic conditions Culture Physical infrastructure Demand Aggregate Value Creation Outcomes Outputs Entrepreneurial Activity Entrepreneurial Ecosystem Elements NetworksLeadershipFinanceTalentKnowledge Support services / intermediaries

Ambitious Entrepreneurship Not just entrepreneurship also ambitions (“need for achievement”, excellence) and targetting bottlenecks for new value creation (innovation, growth)

Ecosystems for Ambitious Entrepreneurship Building and maintaining an ecosystem for Ambitious Entrepreneurship is a long term strategy Involve leaders & feeders

Ecosystems for Ambitious Entrepreneurship in Flanders Why the next will be in Flanders Prof Dr Erik Stam Chair of Strategy, Organization & Entrepreneurship Utrecht University School of Economics