Exploring the entrepreneurial ecosystem: Some local Canadian perspectives

• Author: Mustapha Ibn‐Boamah,Kayla Johnson,Jasmine Alam
• Date: 01 July 2019
• DOI: http://doi.org/10.1002/jsc.2266
• Published date: 01 July 2019

RESEARCH ARTICLE

Exploring the entrepreneurial ecosystem: Some local Canadian

perspectives*

Jasmine Alam

1

| Mustapha Ibn-Boamah

2

| Kayla Johnson

2

1

Shannon School of Business, Cape Breton

University, Sydney, Canada

2

Faculty of Business, University of New

Brunswick, Saint John, Canada

Correspondence

Mustapha Ibn-Boamah, Faculty of Business,

University of New Brunswick, 100 Tucker Park

Road, Saint John, Canada, E2L 4L5.

Email: mboamah@unb.ca

Abstract

Identifying each organization's connection and contribution to the entrepreneurial

ecosystem helps to highlight the gaps and the support needed for a sustainable

entrepreneurial ecosystem. New Brunswick has much work ahead to host a large

striving entrepreneurial ecosystem: a place for innovation, entrepreneurship, and col-

laboration. The key players in the ecosystem could provide educational institutions

with entrepreneurial support, such as resource opportunities that can support the

growth of young entrepreneurs, generate networks, and ultimately provide mentor-

ship opportunities. Sharing success stories of social enterprises with the community

is important; social entrepreneurs hold the potential to solve complex social issues in

the community and if they have the availability of a strong entrepreneurial ecosystem

for support, the future for a stronger economy and society is distinctly possible.

1|INTRODUCTION

An entrepreneurial ecosystem refers to a “collective and systemic

nature of entrepreneurship,”(Definition of EntrepreneurialEcosystems,

n.d.). Mason and Brown (2014) suggest that it is “a set of inter-

connected entrepreneurial actors (both potential and existing), entre-

preneurial organisations (e.g. firms, venture capitalists, business angels,

banks), institutions (universities,public sector agencies, financialbodies)

and entrepreneurialprocesses (e.g. the business birth rate, numbers of

high growth firms, levels of ‘blockbuster entrepreneurship’,numberof

serial entrepreneurs, degree of sellout mentality within firms and levels

of entrepreneurial ambition) which formally and informally coalesce to

connect, mediate and govern the performance within the local entre-

preneurial environment”(p. 5). Indeed,without a strong entrepreneurial

ecosystem, entrepreneurs would find difficulty in leveraging external

support to help them succeed with their business ideas, hindering the

ability for new job creation, community and economic development,

and the impact that naturally follows entrepreneurial activity. A

community's ecosystem can help entrepreneurs discover resources,

and support, which in turn can help start-ups become successful busi-

nesses. It can also inform communities on complex problems that are

being solved by various entities in the business environment andiden-

tify key supportorganizations in the ecosystem.

The purpose of this study is to explore the entrepreneurial ecosys-

tem in New Brunswick, Canada by identifying some of the key organi-

zations in this landscape and their contribution to the ecosystem. A

secondary purpose of this study is to provide actionable recommenda-

tions to encourage the future growth of the current entrepreneurial

ecosystem in the province.

2|DEFINING ASPECTS OF THE

ENTREPRENEURIAL ECOSYSTEM

An entrepreneurial ecosystem is present in a community that lever-

ages entrepreneurship by providing start-ups resources and support

for the success of their business. An entrepreneurial or business eco-

system, according to Boutillier et al., “is characterized by the diversity

of players which comprise it and through their shared objectives and

skills”(Boutillier, Carré, & Levratto, 2016, p. 48). Isenberg (2011) iden-

tifies six defining domains in such a system: culture, policies and lead-

ership, finance, human capital, markets, and institutional and

infrastructural supports. As further mentioned by Isenberg, an entre-

preneurial ecosystem is unique to its community, and over time

becomes self-sustaining (Isenberg, 2011). However, it should be noted

*JEL classification codes: L31, O35.

DOI: 10.1002/jsc.2266

Strategic Change. 2019;28:249–254. wileyonlinelibrary.com/journal/jsc © 2019 John Wiley & Sons, Ltd. 249