Abstract
The pillars of entrepreneurship in the ecosystem are many and complex. While a widely accepted definition of entrepreneurship is lacking, there is general agreement that the concept has numerous dimensions. We take this into account in creating the entrepreneurship index. Some businesses have a larger impact on markets, create more new jobs, and grow faster and become larger than others. We also take into account the fact that entrepreneurship plays a different role at different stages of development. Considering all of these possibilities and limitations, we define entrepreneurship as “the dynamic, institutionally embedded interaction between entrepreneurial attitudes, entrepreneurial abilities, and entrepreneurial aspirations by individuals, which drives the allocation of resources through the creation and operation of new ventures.”
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Ács, Z.J., Szerb, L., Lafuente, E., Lloyd, A. (2018). The Global Entrepreneurship and Development Index. In: Global Entrepreneurship and Development Index 2018. SpringerBriefs in Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-03279-1_3
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