Strategies for Developing Entrepreneurial Start-Up Scalability and Sustainability

Strategies for Developing Entrepreneurial Start-Up Scalability and Sustainability

DOI: 10.4018/979-8-3693-2077-8.ch011
(Individual Chapters)
No Current Special Offers


Entrepreneurship is a system of economic players, government, and other mediators who take initiatives to start new businesses, ventures, and start-ups to produce goods and services to meet the need of society in several ways. Entrepreneurship ecosystem (EE) is a system that nurture a proper path for businessmen to start new business and promote entrepreneurial activities. This chapter proposes strategies to develop entrepreneurial ecosystems for achieving startup scalability and sustainability using systematic literature review. The implications of this research will add value to the budding startup owners, government, academicians, researchers, and entrepreneurs. The outcome of this research will enable all stakeholders to understand strategies to manage the resources of startups in an optimal manner for scalability and sustainability.
Chapter Preview


Entrepreneurial activity is a critical source of employment and economic development. The initial years of a startup or business firm are important to raise investment and gain customers. This is also important to achieve scalability, sustainability and optimal resource utilization. However, one of the greatest challenges of startups is mobilizing finance from various sources. Entrepreneurship is a social, economic, culture and scientific process, which help to create jobs and extensive business opportunities (Kim et al., 2022). Entrepreneurship is a system of economic players, government and other mediators who take initiatives to start new business, venture and start-up to produce goods and services to meet the need of society in several ways. While, entrepreneurship ecosystem (EE) is a system that nurture a proper path for businessmen to start new business and promote entrepreneurial activities (Sharma et al., 2023).

EE has a muti-interacting association with technical and entrepreneurial skills of people, entrepreneurial training, entrepreneurial culture, entrepreneurial education, bank rate, financial availability, government policies, foreign direct investment, inflation, science & technological development, technology transfer and commercialization, innovation, R&D expenditure, intellectual property rights regime, infrastructural development, population growth, demand of goods and services and geographical location (Singh et al., 2023).

Digitalization and information and communication technologies (ICTs) infrastructure have positive implication on economic development, entrepreneurship ecosystem (EE) and entrepreneurial activities. Digitalization is a process in which a country has greater dependency on digital technologies and ICTs to be digitalized economy (Singh & Jyoti, 2023). Past evidence infer that per capita income, business opportunities, e-commerce, e-business, online trading of goods and services, level of employment, transparency in government policies, dissemination of information, innovation in market, money flow and need of consumers and producers, labour productivity, and quality of education also increase due to adoption of digitalization and ICTs infrastructure (Kondratenko et al., 2022). Digitalization helps to meet the requirement of entrepreneurs and consumers as creating an online platform of business. Digital development is supportive to satisfy entrepreneur's information and their acquisition needs. Digitalization is also operative to increase competition, resource efficiency and quality of life and movement of country to be globally competitive. Economic development and its enhancing factors (i.e., foreign direct investment, foreign trade, inflation, interest rate, money supply, employment rate, exports of goods and services, capital formation, infrastructural development, human resource, energy intensity, business density rate, population growth, urbanization, industrialization, foreign trade, science and technological development, innovation, intellectual property rights, institutional support, natural resource, financial resources and access to electricity, etc.) also help to create a favorable entrepreneurship and business ecosystem (Sharma et al., 2023). Economic development and entrepreneurship ecosystem (EE) cannot be improved without digitalization, ICTs, science and technological development. Digitalization helps to develop a platform for social, economic, environmental and technological development (Jyoti & Singh, 2023). Further, digitalization works as a driver to increase sustainable social-economic development. Digitalization may be positive to increase inclusive economic growth and social equity

Key Terms in this Chapter

Ecosystem: An ecosystem refers to a complex, interconnected community of living organisms (plants, animals, microorganisms) and their physical environment (which includes soil, water, air, and climate) within a specific geographical area.

Ecosystem Dynamics: Ecosystem dynamics refer to the complex and often interconnected processes and changes that occur within an ecosystem over time.

Startup: A startup is a newly established business enterprise that is typically characterized by innovation, a high degree of growth potential, and a focus on scalability.

Entrepreneurial Ecosystem: An entrepreneurial ecosystem refers to the interconnected network of various elements, including individuals, institutions, organizations, policies, and resources that collectively support and foster entrepreneurship in a specific geographical region. This ecosystem plays a critical role in enabling the creation and growth of startups and small businesses. It encompasses both the tangible and intangible elements that contribute to the entrepreneurial environment.

Startup Scalability: Startup scalability refers to a startup's ability to grow its business rapidly while maintaining or increasing efficiency and profitability.

Complete Chapter List

Search this Book: