Embracing the “village” or going it alone? Understanding the entrepreneurial ecosystem mindset

Entrepreneurs differ in their willingness to adopt an ecosystem approach to venture creation and development. However, it is not clear what explains the systematic differences in entrepreneurs’ involvement in their entrepreneurial ecosystems. To address this void in our understanding of entrepreneurial ecosystems, this chapter introduces the concept of an entrepreneurial ecosystem mindset (EEM): an orientation toward seeking and contributing resources to a local community of entrepreneurs. After establishing the characteristics and uniqueness of the EEM, a multi-level theory is presented that explains how the EEM influences entrepreneurs’ ecosystem-related behaviors and how these behaviors in turn influence entrepreneur and ecosystem performance. The theory of the EEM connects research on entrepreneurial cognition to the ecosystem level, adds clarity to the micro-foundations of entrepreneurial ecosystems and explains why some entrepreneurs utilize their local ecosystems while others view entrepreneurship as an individual, rather than community-oriented, activity. The theory also generates practical implications for entrepreneurs, ecosystem leaders and individuals wanting to foster an entrepreneurial ecosystem mindset.