Understanding The Budapest Entrepreneurial Ecosystem: Human Capital Flows and Social Capital Ties

IF 1.6 Q3 BUSINESS Central European Business Review Pub Date : 2021-12-30 DOI:10.18267/j.cebr.295
Loretta Huszák, T. Gittins
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引用次数: 1

Abstract

Socio-economic transition in the CEE (Central and Eastern Europe) region in recent decades forms the operating context for young entrepreneurial ecosystems. This study has the aim of analysing institutional and cognitive features of CEE ecosystem development by considering Budapest as a prime example of an urban entrepreneurial ecosystem. Alongside the analysis of event registration data, a qualitative research approach is deployed featuring semistructured interviews with entrepreneurs and other institutional actors attending a networking event in Budapest. The methodological foundation for this approach is adapted from Triple Helix ecosystem theory. A conceptual model is produced from the research process, and ecosystem theory is developed by accounting for dynamic human capital flows and social capital ties do not present in the original Triple Helix theory. Results primarily indicate moderate levels of asset values and that attendance by entrepreneurs is largely motivated by locating start-up funding. Prime outcomes of interviews are a lack of innovation-focused specific human capital and increasingly market-based means of social capital development. Furthermore, the findings presented as propositions assume a partial virtual nature for human capital flows and social capital ties between ecosystem actors. On this basis, the resulting conceptual model accounts for the presence of digitalisation. Thus, ongoing entrepreneurial ecosystem development entails continual institutional adaption to information technologydriven socio-economic conditions. The Budapest ecosystem would, however, need to acquire a stronger virtual aspect in order to realise greater growth potential. Implications for Central European audience: While research on entrepreneurial ecosystems has gained strength, it has barely been applied to the CEE region. This study represents a formative attempt in this regard whereby the resulting conceptual model may be used to empirically evaluate entrepreneurial ecosystems within the region by comparing specific internal and external human and social capital movements. The model primarily implies that digitally derived human and social capital would require deeper integration between start-up firms and institutional actors. Crucially, there is also an implicit need for institutions to develop digitalised infrastructure more intensively in order to nurture innovative start-up activity in the CEE region.
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理解布达佩斯创业生态系统:人力资本流动与社会资本纽带
近几十年来,中东欧(中欧和东欧)地区的社会经济转型形成了年轻创业生态系统的运作环境。本研究的目的是通过将布达佩斯视为城市创业生态系统的典型例子,分析中东欧生态系统发展的制度和认知特征。除了分析活动注册数据外,还采用了定性研究方法,对参加布达佩斯网络活动的企业家和其他机构参与者进行了半结构化采访。该方法的方法论基础改编自三重螺旋生态系统理论。研究过程中产生了一个概念模型,生态系统理论是通过考虑原始三螺旋理论中不存在的动态人力资本流动和社会资本联系而发展起来的。结果主要表明,资产价值水平适中,企业家的参与在很大程度上是由寻找创业资金推动的。访谈的主要结果是缺乏以创新为重点的特定人力资本和日益以市场为基础的社会资本发展手段。此外,作为命题提出的研究结果假设了生态系统参与者之间的人力资本流动和社会资本联系具有部分虚拟性质。在此基础上,由此产生的概念模型解释了数字化的存在。因此,持续的创业生态系统发展需要不断的制度适应信息技术驱动的社会经济条件。然而,布达佩斯生态系统需要获得更强大的虚拟方面,才能实现更大的增长潜力。对中欧受众的影响:虽然对创业生态系统的研究有所加强,但它几乎没有应用于中东欧地区。这项研究代表了这方面的一种形成性尝试,由此产生的概念模型可以用来通过比较具体的内部和外部人力和社会资本流动来实证评估该地区的创业生态系统。该模型主要意味着,数字衍生的人力和社会资本需要初创公司和机构参与者之间更深入的整合。至关重要的是,各机构也迫切需要更深入地发展数字化基础设施,以培育中东欧地区的创新创业活动。
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来源期刊
Central European Business Review
Central European Business Review Business, Management and Accounting-Business and International Management
CiteScore
3.10
自引率
7.70%
发文量
27
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