Figure 2.
The flow diagram presents actors including startups and companies, government bodies and public policies, education and research institutions, investors and financial entities, and managers and leaders of ecosystem. Startups and companies foster interactions, boost venture creation through financial resources, mentor beginner entrepreneurs, seek networking opportunities, and access public policy and financing resources. Government bodies implement regulations encouraging innovation, increase investment funds, create policies and tax incentives, and support environments such as incubators and accelerators. Education and research institutions integrate teaching, research, and extension, promote experimentation and learning, develop products through applied research, create training programmes, and facilitate knowledge transfer. Investors and financial entities offer investment opportunities, provide financial support and strategic guidance, participate in investment networks, and provide financial resources for beginner projects. Managers and leaders promote coordination with government actors, seek investments for training and qualification of human capital, and establish strategic partnerships with educational institutions and agencies. These practices are organised across stages described as embryonic to expansion and frontier of evolution through actors orchestration. The diagram also presents essential elements including support, culture, finance, policy, market, and human capital.Strategic management practices to orchestrate entrepreneurial ecosystems
Source: The authors