by Nicolas Colin, Co-founder & Partner at The Family
Our model is relatively simple, based on the idea that the entrepreneurial ecosystem has three characteristic ingredients. They are as follows:
- capital—by definition, no new business can be launched without money and relevant infrastructures (which consist of capital tied up in tangible assets);
- know-how—you need engineers, developers, designers, salespeople: all those whose skills are necessary for launching and growing innovative businesses;
- rebellion—an entrepreneur always challenges the status quo. If they wanted to play by the book, they would innovate within big, established companies, where they would be better paid and would have access to more resources.
All three ingredients are present, in variable proportions, in every country. But the most important thing is not simply their relative presence or absence in a certain place. Rather, it’s the degree to which they mix within the entrepreneurial part of the economy. That is to say, is there a place where all three ingredients come together, where capitalists, engineers, and rebels get to know one another and do great work together?
The way the three ingredients are combined tells a great deal about a given country’s specific economy and sociology. There are seven possible combinations…
Read the entire article here: What Makes an Entrepreneurial Ecosystem by Nicolas Colin