Drivers for SMEs participation in entrepreneurial ecosystems: evidence from health tech ecosystem in Northern Finland

Abstract

PurposeThe entrepreneurial ecosystem (EE) literature is dominated by conceptual studies with insufficient theoretical foundations and empirical evidence on the micro-level. This study aims to explore the largely overlooked question of what the drivers that motivate small and medium-sized enterprises (SMEs) to participate in an ecosystem are.Design/methodology/approachThe study adopts a qualitative exploratory approach. The empirical data consists of 19 semi-structured interviews with top management of SMEs in the health tech ecosystem in Finland. The data were analyzed using a thematic content analysis.FindingsThis study reveals a typology of drivers that motivate SMEs to participate in an ecosystem. These include social drivers (networking and cooperation and communication and knowledge sharing), resource drivers (access to resources, formal and informal support and market access) and cognitive drivers (shared goals and common values).Research limitations/implicationsThe study contributes to the EE research by highlighting the drivers that motivate health tech SMEs to become members of the local ecosystem. It suggests that managers and entrepreneurs need to be aware of the factors related to social, resource and cognitive drivers to ensure the future success of their business.Originality/valueThe study draws evidence from a micro-level perspective which enriches the understanding of the EE phenomenon. It also explores an increasingly relevant but under-researched field, the health tech ecosystem.