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Journal of Business Management and Technology Advancement
2024, Volume 2, Issue 3 : 1-6
Research Article
Entrepreneurial Ecosystems and Technology Advancement
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1
Department of Entrepreneurship and Innovation, Global Institute of Business Studies, Boston, USA
2
School of Technology and Economic Development, University of Melbourne, Australia
3
Center for Innovation Ecosystems Research, London Institute of Management and Technology, United Kingdom
Abstract

Entrepreneurial ecosystems have emerged as critical drivers of innovation, economic growth, and technological advancement in the twenty-first century. These ecosystems comprise interconnected actors, institutions, resources, and policies that collectively support entrepreneurial activity and innovation. Technological advancement, fueled by emerging technologies such as Artificial Intelligence (AI), blockchain, Internet of Things (IoT), cloud computing, and biotechnology, has significantly reshaped entrepreneurial opportunities and business models. This study examines the relationship between entrepreneurial ecosystems and technology advancement, exploring how ecosystem components facilitate innovation, startup development, technology commercialization, and economic competitiveness. Through a comprehensive review of theoretical and empirical literature, the paper analyzes ecosystem structures, technological enablers, policy frameworks, challenges, and future trends. Findings indicate that strong entrepreneurial ecosystems accelerate technology adoption, enhance startup success rates, attract investment, and stimulate regional economic development. The study concludes that fostering collaborative, technology-driven entrepreneurial ecosystems is essential for sustainable innovation and long-term economic prosperity.

 

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