A holistic approach to the evolution of an entrepreneurial ecosystem: An exploratory study of academic spin-offs

Borrowing nomenclature and concepts from ecology and evolutionary biology, we apply descriptive exploratory methods to extend our understanding about the complex dynamics of an entrepreneurial ecosystem. We take a holistic approach to ecosystem analysis, and we analyze the evolution of multiple activities (i.e., entry, exit, growth, and survival) within an entrepreneurial ecosystem and the interactions of these activities with the ecosystem actors and resource providers. Applying our approach to nearly the entire population of academic spin-offs in Norway from 2000 to 2015, we generate a number of important findings. By characterizing the dynamics of an entrepreneurial ecosystem, we take a major step towards theorizing the ecosystem perspective. Our findings have important implications for public policies targeted to promote academic entrepreneurship.