Hamburg is experiencing an entrepreneurial boom, with a record 2,912 new companies founded in the first half of 2024, according to recent statistics from the Statistical Office North. This 2% increase from last year marks the highest number of startups since records began in 2008, underscoring Hamburg's growing appeal as a prime business location.
Despite a rise in business closures, the city's startup scene remains robust, with a positive balance of 1.445 more companies founded than closed.
Read the full article: https://lnkd.in/e_JarYbC
For more detailed statistics, you can visit the Statistical Office North: https://lnkd.in/ejRidS2m#HamburgInvest#BusinessBoom#Entrepreneurship#StartupSuccess
Our article on the regional diversity of entrepreneurial ecosystems in Europe was recently officially published in Regional Studies. The article is freely accessible via the link below.
Definitely take a look if you are interested in what is needed for a successful entrepreneurial ecosystem. Feel free to reach out if you have any questions or insights you would like to discuss.
Professor at Utrecht University School of Economics
Figuring it out: configurations of high-performing entrepreneurial ecosystems in Europe
Article co-authored with Mirella Schrijvers and Niels Bosma, now published in Regional Studies Journal Volume 58, 2024 - Issue 5, pages 1096-1110. https://lnkd.in/eKTyFPMx
Is there only one configuration of successful entrepreneurial ecosystems or many?
This paper applies qualitative comparative analysis (QCA) to identify and analyse configurations of regional entrepreneurial ecosystems in Europe. We test two rivalling causal logics: a completeness logic stating that all entrepreneurial ecosystem elements need to be present and the weakest link is the most important constraint, and a substitutability logic arguing that elements are substitutable.
High entrepreneurship outputs can be realised with different entrepreneurial ecosystem configurations. We identified four different configurations for high levels of entrepreneurship output: two of these were based on strong talent combined with either strong leadership or institutions, the other two configurations combined strong knowledge and intermediate services with either leadership or institutions.
However, focusing on regions with the highest entrepreneurship outputs (top 10%), our results point at the importance of a complete entrepreneurial ecosystem.
#entrepreneurialecosystem#entrepreneurship#configurations#QCA#Europe#eshipUU
Figuring it out: configurations of high-performing entrepreneurial ecosystems in Europe
Article co-authored with Mirella Schrijvers and Niels Bosma, now published in Regional Studies Journal Volume 58, 2024 - Issue 5, pages 1096-1110. https://lnkd.in/eKTyFPMx
Is there only one configuration of successful entrepreneurial ecosystems or many?
This paper applies qualitative comparative analysis (QCA) to identify and analyse configurations of regional entrepreneurial ecosystems in Europe. We test two rivalling causal logics: a completeness logic stating that all entrepreneurial ecosystem elements need to be present and the weakest link is the most important constraint, and a substitutability logic arguing that elements are substitutable.
High entrepreneurship outputs can be realised with different entrepreneurial ecosystem configurations. We identified four different configurations for high levels of entrepreneurship output: two of these were based on strong talent combined with either strong leadership or institutions, the other two configurations combined strong knowledge and intermediate services with either leadership or institutions.
However, focusing on regions with the highest entrepreneurship outputs (top 10%), our results point at the importance of a complete entrepreneurial ecosystem.
#entrepreneurialecosystem#entrepreneurship#configurations#QCA#Europe#eshipUU
The UK's economy grew by 0.6% between April and June, signalling a positive outlook for the design and innovation industry.
Economic growth means more businesses are hopefully investing in branding, product development, and innovation—areas where design plays a crucial role.
At Morrama | Certified B Corp, we're excited to see this momentum, especially as summer months are historically slower for us. It's great to see as it opens up new opportunities to create impactful designs that help businesses thrive in a competitive market.
For this to continue we need to see an increase in consumer confidence, business investment, government projects, nurturing of startups and international competitiveness.
The signals are there, let's see the demand.
What does this mean for you? I'm asking my UK startup Gurus
Asad Hamir, Barty Walsh, Lauren Bell, Freddy Ward, Anna Samuels, Julien Vaissieres, Giorgia Granata, Lorenzo Spreafico, Eliza Flanagan,Jo Barnard#branding#productdevelopment#innovation#growth
Munich is becoming a hotspot for start-ups in Bavaria and Germany! 💯
Bavaria leads the country with 477 start-ups, ahead of Berlin (468) and North Rhine-Westphalia (413). Munich hosts 39% of Bavaria's start-ups, and with 12.4 start-ups per 100,000 people, it's just slightly behind Berlin's 12.5. Additionally, 67 percent of start-ups in the city assess the local environment positively, rating it as either good or very good in 2023.
Find out more about Munich as a business location (2024) in the article posted by the Department of Labor and Economic Development: https://bit.ly/3JdBMhT
Munich is becoming a hotspot for start-ups in Bavaria and Germany! 💯
Bavaria leads the country with 477 start-ups, ahead of Berlin (468) and North Rhine-Westphalia (413). Munich hosts 39% of Bavaria's start-ups, and with 12.4 start-ups per 100,000 people, it's just slightly behind Berlin's 12.5. Additionally, 67 percent of start-ups in the city assess the local environment positively, rating it as either good or very good in 2023.
Find out more about Munich as a business location (2024) in the article posted by the Department of Labor and Economic Development: https://bit.ly/3JdBMhT
🌟 Reimagining New Zealand’s Entrepreneurial Ecosystem 🌟
If you are involved in ecosystem development, I’d like to call your attention to this recently published paper by Sarah Herzog, Colin Mason, and Michaela Hruskova. It could reshape your thinking about the gaps in NZ’s entrepreneurial ecosystem and how they can be addressed.
There’s a lingering debate about the role of large corporations in nurturing entrepreneurial environments. Herzog et al.’s paper challenges the conventional wisdom that “you simply cannot have a flourishing entrepreneurial ecosystem without large companies to cultivate it, either intentionally or otherwise.”
Indeed, even Herzog and her colleagues’ early research highlighted that entrepreneurial ecosystems often have large businesses at their core.
🌏 NZ’s economy is conspicuous for its lack of large companies, potentially creating a challenging environment for ecosystem development.
This latest research indicates that while corporates contribute to resource availability, their culture and networks can impact the entrepreneurial ecosystem negatively. This effect is amplified by the corporate sector’s conservative, self-interested, and risk-averse mindset.
Thus, the authors advocate for a nuanced view of the role of large firms in entrepreneurial ecosystems. It’s not a one-size-fits-all scenario, and the study suggests large firms’ impact can be positive and negative.
💼We need research that dives deeper into the intricacies of the role of “large firms.” This could involve distinguishing between domestic and foreign corporations, examining various corporate activities (e.g., HQ, R&D, production), and diving deep into the intricacies of interactions between large firms and other ecosystem players.
🤔 What could this mean for NZ’s unique economic landscape?
The paper is available at https://lnkd.in/eeSkmraU#Entrepreneurship#EconomicDevelopment#Innovation#NewZealandEconomy#Ecosystem
Emeritus Professor of Entrepreneurship at Adam Smith Business School, University of Glasgow
Can I draw your attention to a new paper - The role of large corporations in entrepreneurial ecosystems – a case study of Munich - that I have co-authored with Sarah Herzog (lead author) and Michaela Hruskova that been published in European Planning Studies. It is available at https://lnkd.in/eeSkmraU.
The paper engages with the observation that Ross Brown and I made in our 2024 OECD paper that “at the heart of an entrepreneurial ecosystem typically there is at least one, and usually several large businesses”. However, the role of large firms as ecosystem actors has attracted relatively little attention. Our specific aim in the paper is to address Isenberg’s claim that “you simply cannot have a flourishing entrepreneurial ecosystem without large companies to cultivate it, either intentionally or otherwise.”
The research was undertaken in Munich, Germany’s corporate capital and hence a very appropriate context. Our findings indicate the need to reassess Isenberg’s claim. Corporates certainly contribute to the resource base of ecosystems; however, their culture and networks have an adverse effect on the institutional arrangements of the entrepreneurial environment. This adverse effect is reinforced by the conservative, self-interested and risk-prevailing mindset of the corporate sector. In short, we argue for a nuanced view of the role of large firms in entrepreneurial ecosystems. it is not automatic that large firms play an entirely positive role in entrepreneurial ecosystems.
We suggest that future research on this topic needs to break-down the heterogeneity of ‘large firms’, for example, distinguishing between domestic and foreign firms, type of corporate activity (e.g. HQ, R&D, production), and drilling down to examine the types of interactions between large firms and other ecosystem actors.
#entrepreneurialecosystem
Can I draw your attention to a new paper - The role of large corporations in entrepreneurial ecosystems – a case study of Munich - that I have co-authored with Sarah Herzog (lead author) and Michaela Hruskova that been published in European Planning Studies. It is available at https://lnkd.in/eeSkmraU.
The paper engages with the observation that Ross Brown and I made in our 2024 OECD paper that “at the heart of an entrepreneurial ecosystem typically there is at least one, and usually several large businesses”. However, the role of large firms as ecosystem actors has attracted relatively little attention. Our specific aim in the paper is to address Isenberg’s claim that “you simply cannot have a flourishing entrepreneurial ecosystem without large companies to cultivate it, either intentionally or otherwise.”
The research was undertaken in Munich, Germany’s corporate capital and hence a very appropriate context. Our findings indicate the need to reassess Isenberg’s claim. Corporates certainly contribute to the resource base of ecosystems; however, their culture and networks have an adverse effect on the institutional arrangements of the entrepreneurial environment. This adverse effect is reinforced by the conservative, self-interested and risk-prevailing mindset of the corporate sector. In short, we argue for a nuanced view of the role of large firms in entrepreneurial ecosystems. it is not automatic that large firms play an entirely positive role in entrepreneurial ecosystems.
We suggest that future research on this topic needs to break-down the heterogeneity of ‘large firms’, for example, distinguishing between domestic and foreign firms, type of corporate activity (e.g. HQ, R&D, production), and drilling down to examine the types of interactions between large firms and other ecosystem actors.
#entrepreneurialecosystem
“Belgium has the second highest rate for fear of failure of all 29 innovation-driven economies in the Global Entrepreneurship Monitor (2014).”
I know this blog post by AMS is 4 years old, but the intro deeply resonates with me and I feel is still quite relevant today.
“This fear is deeply rooted in our culture, as is demonstrated by the world's fifth highest score for risk avoidance. This culturally determined risk avoidance is also deeply rooted in our institutional framework, with a sixth and eighth highest score in perceived pressure from taxes & bureaucracy (Global Entrepreneurship Monitor) and the rigidity of labor legislation (OECD). Because entrepreneurs also feel little protected by the business failure & dissolution law, they tend to keep struggling companies alive much longer than other countries instead of just pulling the plug.”
#failingforward
Great news, showcasing an active innovation ecosystem where young companies can thrive!