Fostering of Entrepreneurial Ecosystems in the Era of the Fourth Industrial Revolution

A special issue of Administrative Sciences (ISSN 2076-3387). This special issue belongs to the section "International Entrepreneurship".

Deadline for manuscript submissions: closed (30 November 2020) | Viewed by 4925

Special Issue Editor


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Guest Editor
Department of Entrepreneurship and Innovation, Cracow University of Economics, 31-510 Kraków, Poland
Interests: sustainable entrepreneurship; social entrepreneurship; green entreprenurship; innovation; sustainability
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue focuses on the effective development of entrepreneurial ecosystems in light of the 4th industrial revolution by focusing on institutional, financial, and technological innovation. The entrepreneurial ecosystem perspective recognises that companies make a significant contribution to economic growth and need to be actively fostered in order to generate further entrepreneurship opportunities. The key aim of entrepreneurial ecosystems is to diagnose and promote entrepreneurial activity around the world. Entrepreneurial ecosystems are composed of various factors and interdependent actors, organisations and institutions (e.g., companies, venture capitalists, business angels and banks, universities, public sector agencies and financial bodies). Many entrepreneurial actors and institutions connect, mediate and manage the performance of the entrepreneurial environment to support not only enterprises but also other organisations in terms of entrepreneurial ecosystem conditions. Given the entrepreneurial conditions, a wide array of factors can be analysed. For instance, the entrepreneurial framework conditions developed by the Global Entrepreneurship Monitor (GEM) consist of nine dimensions. Commonly, entrepreneurs involved in entrepreneurial activities require support from their environment in terms of financing, export advice, innovation development, etc.

This Special Issue focuses on the set of different elements (regulatory, economic, cultural, technology, etc.) that can constitute an optimal socioeconomic environment for innovative organisations if they are appropriately affiliated and supported. Considering the challenges faced by enterprises and other organisations, effective approaches from international, regional or local stakeholders are required. Moreover, there is a need for more research on this subject to better understand the relevance of the entrepreneurship ecosystem (and entrepreneurial activity) in the context of the 4th industrial revolution. This industrial revolution is contributing to advance the interdisciplinary research of policy relevance and business practice.

The key goal of this Special Issue is to present scientific achievements and evaluate the current state of research development on the role of institutional, financial and technological innovation in the fostering of entrepreneurial ecosystems. Therefore, there is a need for in-depth scientific reflection regarding the methods and instruments for economic development in theoretical and practical terms. Suitable topics that could be addressed include, but are not limited to, the following:

International and financial environment

  • International economic competitiveness;
  • International entrepreneurship;
  • Internationalisation of entrepreneurial ecosystems;
  • Internationalisation of SMEs;
  • International finance and financial markets;
  • Financing of new ventures;
  • Entrepreneurial finance;
  • Entrepreneurial financing for start-ups;
  • Financial technologies (fintech) in the development of economy.

Institutional and socioeconomic environment

  • Entrepreneurship and socioeconomic development;
  • Entrepreneurial ecosystems across countries and sectors;
  • Entrepreneurial environment and business competitiveness;
  • Government policy on entrepreneurship;
  • Entrepreneurial cooperation and networking;
  • Institutions supporting entrepreneurial ecosystems;
  • Entrepreneurial framework conditions (e.g., based on the Global Entrepreneurship Monitor);
  • Entrepreneurial ecosystems and stimulation of innovation;
  • Entrepreneurship and sustainability;
  • Business model innovation;
  • University-based entrepreneurial ecosystems;
  • Entrepreneurship and labour market challenges;
  • Promotion of sustainable job growth and industrial development;
  • Entrepreneurship education.

Technological innovation environment

  • Entrepreneurial ecosystems in the age of the digital revolution;
  • Digital entrepreneurship;
  • Digital business models;
  • Technology transfer;
  • SMEs and technology innovation;
  • Financial technologies (fintech) in business development;
  • Technology innovations and the labour market;
  • Innovations in economic and entrepreneurial education in the age of digitization.

The papers selected for this Special Issue can highlight the links among institutional, financial and technological environmental issues. However, subject coverage will not be restricted to these issues and the introduction of new dimensions is encouraged. Papers adopting both theoretical and empirical contributions rooted in different fields are particularly welcome. Research methodologies may include qualitative, quantitative and mixed-method approaches.

Prof. Dr. Maria Urbaniec
Guest Editor

Manuscript Submission Information

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Keywords

  • Entrepreneurial ecosystems
  • Internationalisation
  • Entrepreneurial finance
  • Entrepreneurial actors
  • Technological innovation
  • Digital entrepreneurship

Published Papers (1 paper)

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Research

30 pages, 474 KiB  
Article
Venture Capitalists’ Investment Criteria in Poland: Entrepreneurial Opportunities, Entrepreneurs, and Founding Teams
by Rafał Morawczyński
Adm. Sci. 2020, 10(4), 77; https://0-doi-org.brum.beds.ac.uk/10.3390/admsci10040077 - 10 Oct 2020
Cited by 4 | Viewed by 4237
Abstract
The aim of this article is to explore the decision-making policies by Polish Venture Capital (VC) firms, with special focus on the perception of entrepreneurs. This paper presents the results of a conjoint analysis and assessment of the importance of select characteristics among [...] Read more.
The aim of this article is to explore the decision-making policies by Polish Venture Capital (VC) firms, with special focus on the perception of entrepreneurs. This paper presents the results of a conjoint analysis and assessment of the importance of select characteristics among entrepreneurs and the qualities of a team of founders comprising managers of VC firms. The data were collected via face-to-face interviews with 26 Venture Capitalists. In the conjoint experiment, six attributes were presented, among which three represented characteristics of the entrepreneur (his/her passion and experience) and the management team (experience and completeness) alongside three characteristics of the opportunity (readiness of the product/service, growth rate of the market, and innovativeness of the whole project). VC managers ranked the importance of eight characteristics of the entrepreneurs related to their decisions and assessed the functional composition of the team of founders. The results of the experiment show that venture capitalists (VCs) most strongly appreciate the readiness of the product and entrepreneur’s passion. However, their preferences varied across the sample. The results of the ranking also show that the VC managers highly value the honesty of the entrepreneur. VCs typically prefer a team of founders, rather than a single-person project, preferably consisting of persons at least familiar with the technology and the market. This study contributes significantly to the state-of-the-art, as research on VC investment policy (investment criteria) is relatively rare in Central and Eastern Europe, where the VC industry is starting to flourish. Full article
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