startup-ecosystem

Vocabulary Word

Definition

A 'startup ecosystem' refers to a network of entrepreneurs, investors, mentors, and other resources that interact to help new businesses start and grow. Kind of like a natural ecosystem, where different elements work together to make the environment thrive.

Examples in Different Contexts

For technology hubs, the startup ecosystem includes tech incubators, accelerators, and venture capital firms that foster innovation and entrepreneurship. A tech entrepreneur might explain, 'Our city's startup ecosystem is thriving, thanks to a strong network of support for emerging technology companies.'

Practice Scenarios

Business

Scenario:

We're exploring opportunities to incentivize entrepreneurship in our city. We hope it will attract more venture capital investment.

Response:

Agree, fostering a vibrant startup ecosystem would attract more venture capital and boost small businesses.

Government

Scenario:

We must pave the way for technological advancements in our country. Improved access to funding and support services can certainly boost entrepreneurship.

Response:

Establishing a robust startup ecosystem can definitely guide our country towards technological development.