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Entrepreneurship ecosystems: an agent-based simulation approach

Author

Listed:
  • Elias G. Carayannis

    (The George Washington University)

  • Mike Provance

    (Growth Kinetics LLC)

  • Evangelos Grigoroudis

    (Technical University of Crete)

Abstract

Knowledge acquisition and development of capabilities constitutes a key perspective in studies regarding the formation of new ventures. When examining entrepreneurship ecosystems, we find that the composition of a region influences the new knowledge acquired by the venture. The main aim of this study is to examine the influence of the new venture, the entrepreneur’s social capital, and the firm performance on the new venture’s knowledge acquisition activities. In particular, the study examines how the institutional context of a region influences new ventures’ knowledge acquisition actions during its growth, and in turn the level of sustained entrepreneurial activity within the region. The paper focuses on the formation of alliances by new ventures, one particular form of knowledge acquisition process that has been established as critical to new venture success in the high technology sector. The mechanisms for acquiring and transforming knowledge have the greatest impact on new venture formation, and in this context, the concepts of strategic knowledge arbitrage and strategic knowledge serendipity (SKARSE™) are validated through an agent-based simulation model. The main results focus on the effects of interactions between entrepreneurs and institutions in the process of new venture formation from a knowledge creation, dissemination, and absorption perspective.

Suggested Citation

  • Elias G. Carayannis & Mike Provance & Evangelos Grigoroudis, 2016. "Entrepreneurship ecosystems: an agent-based simulation approach," The Journal of Technology Transfer, Springer, vol. 41(3), pages 631-653, June.
    • Handle: RePEc:kap:jtecht:v:41:y:2016:i:3:d:10.1007_s10961-016-9466-7
    DOI: 10.1007/s10961-016-9466-7
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    More about this item

    Keywords

    Agent-based simulation; Innovation ecosystem; Strategic knowledge arbitrage; Strategic knowledge serendipity; New ventures; Knowledge acquisition;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

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