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ENTREPRENEURIAL ECO-SYSTEMS AND SOCIAL ENTREPRENEURSHIP AS AN AGENT OF REGIONAL DEVELOPMENT: CASE OF LATVIA
Abstract
The concept of entrepreneurial ecosystems (EEs) has emerged in recent years as a framework to understand the nature of places in which entrepreneurial activity flourishes. Spigel (2017) defines entrepreneurial ecosystems as follows: В‘combinations of social, political, economic, and cultural elements within a region that support the development and growth of innovative start-ups and encourage nascent entrepreneurs and other actors to take the risks of starting, funding, and otherwise assisting high-risk ventures. In this regard, the areas that this paper wishes to address are; the degree to which existing entrepreneurial ecosystem in Latvia is prosocial; the role of existing dominant actors in the existing entrepreneurial eco-system in Latvia towards enabling pro-social entrepreneurship ventures; and the challenges that the existing NGOs and social enterprises are facing in their interaction with the larger eco-system. In this conceptual paper, theory and qualitative methods of data analysis, i-e interviews have been conducted to elaborate the findings. Scholars, entrepreneurs and public policy makers whom examine regional or national entrepreneurial ecosystems will have an insight towards the institution of a pro-social eco-system culture towards increased entrepreneurial activity with subsequent poverty alleviation, job creation and a larger regional development.
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