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An Entrepreneurial Ecosystem is an environment where entrepreneurs can thrive. It consists of an interconnected network of entrepreneurs, mentors, business leaders, and investors who make starting a business easier. This is different from many other business programs that help entrepreneurs, in that an ecosystem is not just training, just small business loans, just a business network, or just an accelerator.
An ecosystem is also inherently local, so the community develops the ownership, capacity, and enthusiasm for supporting entrepreneurs, solving their own problems, and growing their economies. We are developing communities through their entrepreneurs!
In the next few pages we will cover the problem, why entrepreneurship is a great solution, why charity is not, how Entrepreneurial Ecosystems change local communities, and what ECatalyst does to make sure all of that happens.
What do we mean when we talk about "Entrepreneurial Ecosystems"?
Job loss and economic uncertainty has always been a problem, but it is even more so in these times of COVID-19. And the developing world is being especially hard-hit.
Surely if people don't have resources (food, money, clothing, etc.) then shouldn't our focus be on getting them those things they lack? Not necessarily... this is why.
Why does entrepreneurship make such a difference in developing communities?
There are other programs promoting entrepreneurship in one way or another in the developing world. What makes Entrepreneurial Ecosystems such a better solution?
We at ECatalyst are excited about our process and what it can do to help entrepreneurs in the developing world. Come see why!
See in detail the stages that we use to build an Entrepreneurial Ecosystem.