Entrepreneurial ecosystems: Future research trends

• Published date: 01 September 2020
• DOI: http://doi.org/10.1002/tie.22163
• Date: 01 September 2020
• Author: Vanessa Ratten

RESEARCH ARTICLE

Entrepreneurial ecosystems: Future research trends

Vanessa Ratten

Department of Management, Sport and

Tourism, La Trobe Business School, La Trobe

University, Bundoora, Melbourne, Australia

Correspondence

Vanessa Ratten, Department of Management,

Sport and Tourism, La Trobe Business School,

La Trobe University, Plenty Road, Bundoora

3086, Melbourne, Australia.

Email: v.ratten@latrobe.edu.au

Abstract

Entrepreneurial ecosystems are gaining ascendancy as one of the most popular topics

discussed in the international business literature. This is due to the way they incorpo-

rate cultural, economic, social, and political considerations in an evolutionary view of

how entities interact in society. Due to an increased emphasis on digitalization and

the knowledge economy, it helps to take an ecosystem view when discussing and

analyzing entrepreneurship. The aim of this article is to discuss future research trajec-

tories in research, practice, and policy on entrepreneurial ecosystems. Thereby con-

tributing an anthropocosmic view to how entrepreneurship exists and its role in

contributing to a more open and inclusive global economy. Specific research and

managerial tracks are stated that highlight the importance of investing in an entrepre-

neurial ecosystem mindset where everything is connected.

KEYWORDS

entrepreneurial ecosystems, entrepreneurship, international business

1|INTRODUCTION

The trajectory of entrepreneurial ecosystem research can be viewed

as overwhelmingly positive in terms of its contribution to the field of

international business. However, there should be some caution in

using the word entrepreneurial ecosystem as it has a vague nature

that may impede conceptual and theoretical advancement. Thus, in

this article, I will detail what I think as a researcher in the field, con-

sider the most important research themes and topics that have the

best potential to advance the field of entrepreneurial ecosystems. This

will help establish entrepreneurial ecosystems as a critical research

field, enabling scholars to further push their intellectual boundaries.

This will help bridge the often mentioned academic/practice gap in

making entrepreneurial ecosystems an important area of research.

Prior research has accumulated a collection of ideas on entrepre-

neurial ecosystems that provides a better understanding of the link

between entrepreneurship and the environment. The complexity of

the topic has meant the literature, has still a long way to go before

fully comprehending the vibrancy and energy radiating from an entre-

preneurial ecosystem. This means there are many diverse studies, but

some on a superficial level and not digging deep into the nature of an

entrepreneurial ecosystem. There need to be greater levels of inter,

cross, and transdisciplinary research on entrepreneurial ecosystems.

This is often highlighted as a potential need in research circles but sel-

dom practiced in reality.

Some elements of an ecosystem have received scant attention in

the literature. This raises the possibility of more research in the area

of international business and ecosystem development. Feedback in an

ecosystem needs to be prioritized in terms of its usefulness. This

means questions should be asked about how an organization uses its

partners to create external development. This would enable a better

understanding of the trade-offs involved when an organization

operates in an ecosystem environment. An organization can learn

from feedback received in order to establish the validity of its ideas.

This can involve some degree of manipulation in terms of the idea and

its pace of progression in the marketplace.

In reality, an ecosystem revolves around complex interactions

that can take time to develop. For organizations in an ecosystem, it

can help to have a network member with some degree of political

influence. This ensures the power struggles are kept to a minimum,

and the strategies are more fully aligned with the overall intent of

ecosystem members. Different elements of an ecosystem contribute

in various ways to an idea gaining traction in the market. Thus, an eco-

system can be sculpted by the entities involved. To do this some

degree of steering is needed to ensure the initial idea stays on the

right path. It can help to provide cues to others about the idea and

DOI: 10.1002/tie.22163

Thunderbird Int. Bus. Rev.. 2020;62:623–628. wileyonlinelibrary.com/journal/tie © 2020 Wiley Periodicals LLC. 623