What is Ecosystem Building?
Ecosystem Building refers to creating infrastructure such as resources, processes and culture to reach specified outcomes within a community. Here at LevelUp, we specialize in Entrepreneurial Ecosystem Building, the profession and practice of supporting local entrepreneurs with a systems approach.
Entrepreneurial Ecosystem Building can include the following:
education on key startup methods
training on concepts and specific skills, including technical and soft skills
forming partnerships with key partners, often referred to as “stakeholders” within in the community or region
providing access to resources such as physical space, financial assistance, and people networks
creating, normalizing and communicating processes for individuals to utilize to start and grow their business
Although there are many standards across ecosystems, Entrepreneurial Ecosystem Building solutions require the incorporation of unique local/regional assets and cultural intricacies to be successful.
The Entrepreneurial Ecosystem Building profession is relatively new, popularized in the last decade, and now seen within both government and private sectors globally to provide individuals and groups assistance to succeed in starting and scaling businesses.
Where traditional economic development focuses on larger industry and luring new, big businesses for investment and employment, Entrepreneurial Ecosystem Building is the specific type of economic development that empowers local individuals to create and grow successful businesses from scratch.
Entrepreneurial Ecosystem Building is also referred to as Startup Ecosystem Building, Startup Community Building, Entrepreneurial Community Building and Innovation Ecosystem Building.