The Involvement of Universities, Incubators, Municipalities, and Business Associations in Fostering Entrepreneurial Ecosystems and Promoting Local Growth

Abstract

Portugal has made investments in several regions within the country to promote the development of entrepreneurial ecosystems. The primary goal of these investments is to facilitate the foundation of new firms, drive economic growth, and encourage innovation. The current emphasis is on examining productive entrepreneurship and the intricate interactions among many features of an entrepreneurial ecosystem. This study’s main objective is to thoroughly comprehend the current status of entrepreneurial ecosystems in Portugal, and their potential to foster local economic development as perceived by key stakeholders. This will be achieved through analysing the contributions made by universities, incubators, municipalities, and business groups towards their growth and advancement. The research employed a qualitative technique, wherein semi-structured interviews were administered to a total of nineteen participants. These participants consisted of CEOs from incubation organisations, representatives from municipal councils, representatives from business associations, and representatives from higher education institutions. The data was gathered throughout the period spanning from December 2022 to March 2023, with a combination of in-person and online interviews. The interviews were taped and afterwards transcribed, with the information being processed using the MAXQDA PRO 20 software. The findings indicate that there has been a notable development and expansion of entrepreneurial ecosystems in Portugal throughout the past several years. This progress has been facilitated by the active involvement of various stakeholders at the local level, including higher education institutions, incubators, local government bodies, and business groups. Notwithstanding the aforementioned expansion, the survey participants highlight the presence of some challenges that constraint the advancement of entrepreneurial ecosystems in select locations in the country, including insufficient financial resources and a dearth of skilled workers.