IDEAS home Printed from https://ideas.repec.org/a/eee/teinso/v84y2026ics0160791x2500332x.html

Rethinking entrepreneurial ecosystems: Evaluating the performance impact of top-down design

Author

Listed:
  • Matricano, D.
  • Liguori, E.W.

Abstract

Although entrepreneurial ecosystems (EEs) continue to attract significant global attention from both scholars and practitioners, important questions remain unanswered. In particular, there is ongoing debate about the actual and potential impact of EEs on firm performance. This gap in the literature motivates a central research question: to what extent can EEs enhance firm performance? A specific type of top-down EEs, the Digital Innovations Hubs (DIHs) launched by the European Commission, is considered and tested in Italy by leveraging data retrieved by the Italian Ministry of Enterprises and Made in Italy about 12779 Italian innovative start-ups and carrying out stochastic frontier analyses. With regard to start-up performance, the statistical analysis highlights the importance of carefully selecting variables that influence the outcomes of innovative start-ups. As for Digital Innovation Hubs (DIHs), the results suggest that their impact is not uniform, nor do they appear to generate nested geographic effects. Consequently, it remains unclear whether DIHs are capable of effectively supporting or stimulating innovation processes that enhance firm performance. The final section of the paper offers reflections and considerations on the potential risks and benefits associated with top-down entrepreneurial ecosystems.

Suggested Citation

  • Matricano, D. & Liguori, E.W., 2026. "Rethinking entrepreneurial ecosystems: Evaluating the performance impact of top-down design," Technology in Society, Elsevier, vol. 84(C).
    • Handle: RePEc:eee:teinso:v:84:y:2026:i:c:s0160791x2500332x
    DOI: 10.1016/j.techsoc.2025.103142
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0160791X2500332X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techsoc.2025.103142?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Phuong Anh Nguyen & Linh Dan Pham, 2020. "Non-parametric analysis of bank merger gains: The case of Vietnam," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1823582-182, January.
    2. Colombo, Massimo G. & Guerini, Massimiliano & Hoisl, Karin & Zeiner, Nico M., 2023. "The dark side of signals: Patents protecting radical inventions and venture capital investments," Research Policy, Elsevier, vol. 52(5).
    3. Colombelli, Alessandra & Grilli, Luca & Minola, Tommaso & Mrkajic, Boris, 2020. "To what extent do young innovative companies take advantage of policy support to enact innovation appropriation mechanisms?," Research Policy, Elsevier, vol. 49(10).
    4. Pushpananthan, Gouthanan & Elmquist, Maria, 2022. "Joining forces to create value: The emergence of an innovation ecosystem," Technovation, Elsevier, vol. 115(C).
    5. Schäfer, Susann & Fischer, Bruno & Rücker Schaeffer, Paola & Balestrin, Alsones, 2024. "Beyond local boundaries: Unraveling the spatiality of entrepreneurial ecosystems," Journal of Business Venturing Insights, Elsevier, vol. 22(C).
    6. José Santisteban & David Mauricio & Orestes Cachay, 2021. "Critical success factors for technology-based startups," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 42(4), pages 397-421.
    7. Diego Matricano, 2023. "Interdisciplinarity in Entrepreneurship," Springer Books, Springer, number 978-3-031-27975-1, August.
    8. Maysami, Amir Mahdi & Mohammadi Elyasi, Ghanbar, 2020. "Designing the framework of technological entrepreneurship ecosystem: A grounded theory approach in the context of Iran," Technology in Society, Elsevier, vol. 63(C).
    9. Hossain, Mokter, 2022. "The Shenzhen ecosystem: What it means for the western world," Technology in Society, Elsevier, vol. 68(C).
    10. Zhao, Bo & Ziedonis, Rosemarie, 2020. "State governments as financiers of technology startups: Evidence from Michigan's R&D loan program," Research Policy, Elsevier, vol. 49(4).
    11. Erik Stam, 2015. "Entrepreneurial Ecosystems and Regional Policy: A Sympathetic Critique," European Planning Studies, Taylor & Francis Journals, vol. 23(9), pages 1759-1769, September.
    12. Bernd Wurth & Erik Stam & Ben Spigel, 2022. "Toward an Entrepreneurial Ecosystem Research Program," Entrepreneurship Theory and Practice, , vol. 46(3), pages 729-778, May.
    13. David B. Audretsch & Maksim Belitski, 2021. "Towards an entrepreneurial ecosystem typology for regional economic development: the role of creative class and entrepreneurship," Regional Studies, Taylor & Francis Journals, vol. 55(4), pages 735-756, April.
    14. Wang, Miaomiao & Mühlbacher, Hans & Wittmann, Xinhua & Perrett, Pieter, 2021. "Dynamic collaboration between small- and medium-sized enterprises from highly dissimilar markets," European Management Journal, Elsevier, vol. 39(2), pages 185-200.
    15. Vlačić, Ernest & Dabić, Marina & Daim, Tugrul & Vlajčić, Davor, 2019. "Exploring the impact of the level of absorptive capacity in technology development firms," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 166-177.
    16. Katharina Scheidgen, 2021. "Degrees of integration: how a fragmented entrepreneurial ecosystem promotes different types of entrepreneurs," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 33(1-2), pages 54-79, January.
    17. Jeff Muldoon & Eric W. Liguori & Shelby Solomon & Josh Bendickson, 2023. "Technological Innovation and the expansion of Entrepreneurship Ecosystems," Review of Managerial Science, Springer, vol. 17(5), pages 1789-1808, July.
    18. Massimo G. Colombo & Giovanni Battista Dagnino & Erik E. Lehmann & MariPaz Salmador, 2019. "The governance of entrepreneurial ecosystems," Small Business Economics, Springer, vol. 52(2), pages 419-428, February.
    19. George Katharakis & Maria Katharaki & Theofanis Katostaras, 2014. "An empirical study of comparing DEA and SFA methods to measure hospital units' efficiency," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 21(3), pages 341-364.
    20. João Candeias & Soumodip Sarkar, 2022. "Entrepreneurial Ecosystems and distinguishing features of effective policies – an evidence-based approach," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 34(5-6), pages 343-375, May.
    21. Sarah Cheah & Cristiano Bellavitis & Alessandro Muscio, 2021. "The impact of technology complexity on the financial performance of R&D projects: evidence from Singapore," The Journal of Technology Transfer, Springer, vol. 46(2), pages 431-458, April.
    22. Erik E. Lehmann & Matthias Menter, 2018. "Public cluster policy and performance," The Journal of Technology Transfer, Springer, vol. 43(3), pages 558-592, June.
    23. Gimenez-Fernandez, Elena M. & Sandulli, Francesco D. & Bogers, Marcel, 2020. "Unpacking liabilities of newness and smallness in innovative start-ups: Investigating the differences in innovation performance between new and older small firms," Research Policy, Elsevier, vol. 49(10).
    24. Ahmad Alaassar & Anne-Laure Mention & Tor Helge Aas, 2022. "Ecosystem dynamics: exploring the interplay within fintech entrepreneurial ecosystems," Small Business Economics, Springer, vol. 58(4), pages 2157-2182, April.
    25. Zeba, Gordana & Dabić, Marina & Čičak, Mirjana & Daim, Tugrul & Yalcin, Haydar, 2021. "Technology mining: Artificial intelligence in manufacturing," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    26. Ross Brown & Colin Mason, 2017. "Looking inside the spiky bits: a critical review and conceptualisation of entrepreneurial ecosystems," Small Business Economics, Springer, vol. 49(1), pages 11-30, June.
    27. Mirella Schrijvers & Erik Stam & Niels Bosma, 2024. "Figuring it out: configurations of high-performing entrepreneurial ecosystems in Europe," Regional Studies, Taylor & Francis Journals, vol. 58(5), pages 1096-1110, May.
    28. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    29. Matricano, Diego, 2024. "Designing effective policies for innovative start-ups: Lessons learned in Italy," Journal of Business Venturing Insights, Elsevier, vol. 22(C).
    30. Xue Yang & Hao Zhang & Die Hu & Bingde Wu, 2023. "The timing dilemma: understanding the determinants of innovative startups’ patent collateralization for loans," Small Business Economics, Springer, vol. 60(1), pages 371-403, January.
    31. Ben Spigel, 2016. "Developing and governing entrepreneurial ecosystems: the structure of entrepreneurial support programs in Edinburgh, Scotland," International Journal of Innovation and Regional Development, Inderscience Enterprises Ltd, vol. 7(2), pages 141-160.
    32. David B. Audretsch & James A. Cunningham & Donald F. Kuratko & Erik E. Lehmann & Matthias Menter, 2019. "Entrepreneurial ecosystems: economic, technological, and societal impacts," The Journal of Technology Transfer, Springer, vol. 44(2), pages 313-325, April.
    33. Karlaftis, Matthew G. & Tsamboulas, Dimitrios, 2012. "Efficiency measurement in public transport: Are findings specification sensitive?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(2), pages 392-402.
    34. Dana Sami Bakry & Tugrul Daim & Marina Dabic & Birol Yesilada, 2024. "An evaluation of the effectiveness of innovation ecosystems in facilitating the adoption of sustainable entrepreneurship," Journal of Small Business Management, Taylor & Francis Journals, vol. 62(2), pages 763-789, March.
    35. Xue Yang & Hao Zhang & Die Hu & Bingde Wu, 2023. "Correction: The timing dilemma: understanding the determinants of innovative startups’ patent collateralization for loans," Small Business Economics, Springer, vol. 60(1), pages 405-407, January.
    36. Fernandes, Cristina & Ferreira, João J. & Veiga, Pedro Mota & Kraus, Sascha & Dabić, Marina, 2022. "Digital entrepreneurship platforms: Mapping the field and looking towards a holistic approach," Technology in Society, Elsevier, vol. 70(C).
    37. Autio, Erkko & Rannikko, Heikki, 2016. "Retaining winners: Can policy boost high-growth entrepreneurship?," Research Policy, Elsevier, vol. 45(1), pages 42-55.
    38. Abootorabi, Hooman & Wiklund, Johan & Johnson, Alan R. & Miller, Cameron D., 2021. "A holistic approach to the evolution of an entrepreneurial ecosystem: An exploratory study of academic spin-offs," Journal of Business Venturing, Elsevier, vol. 36(5).
    39. Diego Matricano, 2022. "Economic and social development generated by innovative startups: does heterogeneity persist across Italian macro-regions?," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 31(6), pages 467-484, August.
    40. Coad, Alex & Srhoj, Stjepan, 2023. "Entrepreneurial ecosystems and regional persistence of high growth firms: A ‘broken clock’ critique," Research Policy, Elsevier, vol. 52(6).
    41. Zoltán J. Ács & Erkko Autio & László Szerb, 2015. "National Systems of Entrepreneurship: Measurement issues and policy implications," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 28, pages 523-541, Edward Elgar Publishing.
    42. Dabbous, Amal & Barakat, Karine Aoun & Kraus, Sascha, 2023. "The impact of digitalization on entrepreneurial activity and sustainable competitiveness: A panel data analysis," Technology in Society, Elsevier, vol. 73(C).
    43. Katharina Scheidgen & Anna Brattström, 2023. "Berlin is Hotter Than Silicon Valley! How Networking Temperature Shapes Entrepreneurs’ Networking Across Social Contexts," Entrepreneurship Theory and Practice, , vol. 47(6), pages 2233-2262, November.
    44. Ferreira, João J.M. & Fernandes, Cristina I. & Mota Veiga, Pedro, 2023. "The role of entrepreneurial ecosystems in the SME internationalization," Journal of Business Research, Elsevier, vol. 157(C).
    45. Matricano, Diego, 2022. "The influence of gender on technology transfer processes managed in Italian Young Innovative Companies: A stochastic frontier analysis," Technovation, Elsevier, vol. 111(C).
    46. Battese, G E & Coelli, T J, 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data," Empirical Economics, Springer, vol. 20(2), pages 325-332.
    47. Erik E. Lehmann & Nikolaus Seitz, 2017. "Freedom and innovation: a country and state level analysis," The Journal of Technology Transfer, Springer, vol. 42(5), pages 1009-1029, October.
    48. Reis, Germano Glufke & Villar, Eduardo Guedes & Prado Gimenez, Fernando Antonio & Maiolino Molento, Carla Forte & Ferri, Priscila, 2022. "The interplay of entrepreneurial ecosystems and global value chains: Insights from the cultivated meat entrepreneurial ecosystem of Singapore," Technology in Society, Elsevier, vol. 71(C).
    49. Pittz, Thomas G., 2024. "Ballasts of the entrepreneurial ecosystem," Technovation, Elsevier, vol. 138(C).
    50. Aftab Alam & Bhaskar Bhowmick, 2023. "Examining the domains of entrepreneurial ecosystem framework—a bibliometric analysis," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 13(1), pages 1-17, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shi, Xianwei & Liang, Xingkun & Luo, Yining, 2023. "Unpacking the intellectual structure of ecosystem research in innovation studies," Research Policy, Elsevier, vol. 52(6).
    2. Alejandro Almeida & Antonio A. Golpe & Juan Manuel Martín-Álvarez & Jose Carlos Vides, 2025. "New England’s Pinnacle: fostering quality entrepreneurial ecosystems," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 15(1), pages 243-271, March.
    3. Uwe Cantner & James A. Cunningham & Erik E. Lehmann & Matthias Menter, 2021. "Entrepreneurial ecosystems: a dynamic lifecycle model," Small Business Economics, Springer, vol. 57(1), pages 407-423, June.
    4. Martin Queissner & Lennard Stolz & Matthias Weiss, 2025. "A meta-analysis of entrepreneurial ecosystem elements and entrepreneurial activity," Small Business Economics, Springer, vol. 64(4), pages 1817-1847, April.
    5. David Bruce Audretsch & Maksim Belitski & Georg Maximilian Eichler & Erich Schwarz, 2024. "Entrepreneurial ecosystems, institutional quality, and the unexpected role of the sustainability orientation of entrepreneurs," Small Business Economics, Springer, vol. 62(2), pages 503-522, February.
    6. Allan O’Connor & David Audretsch, 2023. "Regional entrepreneurial ecosystems: learning from forest ecosystems," Small Business Economics, Springer, vol. 60(3), pages 1051-1079, March.
    7. Maksim Belitski & Ana-Maria Grigore & Anca Bratu, 2021. "Political entrepreneurship: entrepreneurship ecosystem perspective," International Entrepreneurship and Management Journal, Springer, vol. 17(4), pages 1973-2004, December.
    8. Aftab Alam & Bhaskar Bhowmick, 2023. "Examining the domains of entrepreneurial ecosystem framework—a bibliometric analysis," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 13(1), pages 1-17, December.
    9. Theodoraki, Christina & Dana, Léo-Paul & Caputo, Andrea, 2022. "Building sustainable entrepreneurial ecosystems: A holistic approach," Journal of Business Research, Elsevier, vol. 140(C), pages 346-360.
    10. Rocha, Augusto & Brown, Ross & Mawson, Suzanne, 2021. "Capturing conversations in entrepreneurial ecosystems," Research Policy, Elsevier, vol. 50(9).
    11. Jip Leendertse & Yvette Baggen & Maral Mahdad & Sharon Dolmans, 2025. "Logics at play: How logics shape interactions across entrepreneurial ecosystems," Small Business Economics, Springer, vol. 65(1), pages 667-691, June.
    12. Aki Harima & Jan Harima & Jörg Freiling, 2024. "Ecosystem Orchestration: Unpacking the Leadership Capabilities of Anchor Organizations in Nascent Entrepreneurial Ecosystems," Entrepreneurship Theory and Practice, , vol. 48(6), pages 1404-1450, November.
    13. Tekic, Anja & Tekic, Zeljko, 2025. "Resource endowments as antecedents of high-impact entrepreneurship: Embracing the complexity of entrepreneurial ecosystems," Journal of Business Research, Elsevier, vol. 197(C).
    14. Kapturkiewicz, Agata, 2022. "Varieties of Entrepreneurial Ecosystems: A comparative study of Tokyo and Bangalore," Research Policy, Elsevier, vol. 51(9).
    15. Maria Patrocínia Correia & Carla Susana Marques & Rui Silva & Veland Ramadani, 2024. "Academic Entrepreneurship Ecosystems: Systematic Literature Review and Future Research Directions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 17498-17528, December.
    16. Ana-Maria Grigore & Irina-Maria Dragan, 2020. "Towards Sustainable Entrepreneurial Ecosystems in a Transitional Economy: An Analysis of Two Romanian City-Regions through the Lens of Entrepreneurs," Sustainability, MDPI, vol. 12(15), pages 1-21, July.
    17. Audretsch, David B. & Lehmann, Erik E. & Menter, Matthias & Wirsching, Katharine, 2021. "Intrapreneurship and absorptive capacities: The dynamic effect of labor mobility," Technovation, Elsevier, vol. 99(C).
    18. Stephens, Simon & McLaughlin, Christopher & Ryan, Leah & Catena, Manuel & Bonner, Aisling, 2022. "Entrepreneurial ecosystems: Multiple domains, dimensions and relationships," Journal of Business Venturing Insights, Elsevier, vol. 18(C).
    19. Leendertse, Jip & van Rijnsoever, Frank & Oostveen, Brendan, 2025. "Ecosystems cast a shadow: How high-quality entrepreneurial ecosystems hamper productive entrepreneurship in neighboring regions," Journal of Business Venturing Insights, Elsevier, vol. 23(C).
    20. Hess, Sophia & Wurth, Bernd & Stam, Erik & Giones, Ferran & Fini, Riccardo & Cavallo, Angelo & Wahl, Andreas & Bosma, Niels & Theodoraki, Christina & Chabaud, Didier & Brem, Alexander & Kuckertz, Andr, 2025. "The future of entrepreneurial ecosystems research: Toward a policy-oriented research agenda," Journal of Business Venturing Insights, Elsevier, vol. 23(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:teinso:v:84:y:2026:i:c:s0160791x2500332x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/technology-in-society .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.