Modeling the influence of startup ecosystem components: Entrepreneurial aspect

Abstract

Defining the basis for the development of a country’s start-up ecosystems as the basis for activating entrepreneurship is an urgent task of restoring the country’s economy. The purpose of this study is to identify ways to improve the country’s start-up ecosystem based on the construction of economic and mathematical models for activating business activities. The research methodology is based on statistical research methods, namely dynamics analysis; to assess the strength of the influence of each component of the start-up ecosystem on the change in position in the rating, regression correlation analysis was chosen, which allows identifying the strength of the influence of factors on the final indicator. The components of the start-up ecosystem were investigated, which means an interactive and interdependent set of institutions whose activities create an environment for the qualitative and quantitative growth of start-ups as subjects of innovative entrepreneurship development. The use of statistical analysis methods for the data of the countries, which were grouped into 5 clusters, allowed determining the absolute changes in the values of the Global Start-up Ecosystem Index rating indicators from Start-up Blink: rating change, quantitative component, qualitative component, business environment, general summary. Based on regression-correlation analysis, economicmathematical models were built, which describe the influence of the components of the country’s ecosystem on the change in the rating positions in the section of four clusters, demonstrating: a strong connection between the factors and the result (Clusters 2, 4). Weak connection for the countries of Clusters 3, 5, which indicates the dependence of the development of start-up ecosystems on other factors that are not considered in their description and which affect the development of start-ups and entrepreneurship in the countries of Clusters 3, 5. The practical value of this paper is that the results of the study can serve as the basis for the local and state authorities to form strategies to develop start-up ecosystems at the national and regional level

Keywords

• start-up
• country ecosystem
• economic and mathematical model
• entrepreneurship
• rating