UNDERSTANDING SUSTAINABLE ENTREPRENEURIAL ECOSYSTEMS: A REVIEW OF LITERATURE AND RESEARCH DIRECTIONS
DOI:
https://doi.org/10.29121/shodhkosh.v5.i3.2024.2462Keywords:
Sustainable Entrepreneurship, Co-Creation, Co-Evolution, Sustainable Innovation, Sustainable Goods and Services, Entrepreneurial Ecosystems, EntrepreneurshipAbstract [English]
This paper presents a comprehensive review of the literature on sustainable entrepreneurial ecosystems, with a focus on identifying key components that drive their sustainability. We highlight four core elements essential for building and sustaining these ecosystems: a sustainability-oriented mindset, the identification of sustainability-driven opportunities and resources, collaborative innovation for sustainable solutions, and the development of markets for sustainable products. Additionally, we discuss several influential contextual factors, such as local culture, stakeholder support, and cooperative networking, which play a role in the longevity of entrepreneurial ecosystems. Based on this review, we propose multiple research directions, including exploring how policy and governance can reinforce sustainable entrepreneurial ecosystems, examining the relationship between sustainability and profitability, and investigating the potential of emerging technologies to promote sustainable entrepreneurship. Our findings offer valuable insights for researchers, policymakers, and entrepreneurs interested in fostering sustainable development and advancing sustainable entrepreneurship.
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