1. 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

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

5. Your definition?

6. 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)

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

8. Growth-oriented Entrepreneurial Activity (GEM 2014)

9. 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)

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

11. 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

12. 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

14. 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

15. 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

16. Flanders’ Entrepreneurial Culture

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

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

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

20. Formal institutions Framework conditions Systemic conditions Culture NetworksLeadershipFinanceTalent Physical infrastructure Demand New knowledge Support services / intermediaries Entrepreneurial Ecosystem Elements Hermann Hauser - Cambridgeshire 1998 1997

21. 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)

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

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

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

25. 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