Measuring High-Growth High-Technology Entrepreneurship Ecosystems

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Academic Paper
Title Measuring High-Growth High-Technology Entrepreneurship Ecosystems
Author Ed Egan
Status Published
© edegan.com, 2016


Final Version

  • The final version was accepted to Research Policy on May 17th, 2021.
  • The 50-day share link is: https://authors.elsevier.com/a/1d8SaB5ASINVf
  • The title was changed to "A Framework for Assessing Municipal High-Growth High-Tech Entrepreneurship Policy"

The BibTeX reference is (pending update with volume and number): 

@article{EGAN2021104292,
  title = {A framework for assessing municipal high-growth high-technology entrepreneurship policy},
  journal = {Research Policy},
  pages = {104292},
  year = {2021},
  issn = {0048-7333},
  doi = {https://doi.org/10.1016/j.respol.2021.104292},
  url = {https://www.sciencedirect.com/science/article/pii/S0048733321000937},
  author = {Edward J. Egan},
  keywords = {Entrepreneurship, Ecosystem, Measurement, High-growth high-technology, Venture capital, Ecosystem support organization, Pipeline, Raise rate, Policy cartel},
  abstract = {This paper advances a framework for making rudimentary need, impact, and cost–benefit assessments of municipal high-growth high-tech entrepreneurship policy. The framework views ecosystem support organizations like accelerators, incubators, and hubs as components in a city’s venture pipeline. A component’s pipeline size, raise rate, and cost per raise measure its performance. In total, the framework consists of eight objective and reproducible measures based on quantities and qualities of venture capital investment and 16 definitions of related terms-of-the-art. These measures and definitions are illustrated in 26 real-world policy examples, which assess initiatives in Houston and St. Louis over the last 20 years. The examples reveal an enormous variation in welfare effects, and some policies appear welfare destroying. Many non-profit organizations claim success (and win awards and acclaim) using non-standard measures despite performing at less than half benchmark levels. Policy cartels, which control startup policy in many U.S. cities, also engage in non-market actions to protect their rents.}
}

The final file series was v4-6-2 in: 

E:\projects\MeasuringHGHTEcosystems
/bulk/vcdb4
Egan (2021) - A Framework for Assessing Municipal High-Growth High-Tech Entrepreneurship Policy.pdf

Production files (sent to ResPol):

  • MeasuringHGHTEntrepreneurshipEcosystemsV4-6-2.tex
  • MeasuringHGHTEntrepreneurshipEcosystemsV4-6-2-TitlePage.tex
  • References.bib
  • HoustonPipelineV4.png
  • HoustonVCRaiseRateWithBenchmarkV4.png
  • econ.bst

Notice

The original Measuring HGHT Entrepreneurship Ecosystems paper was broken into two:

  • A Framework for Assessing Municipal High-Growth High-Technology Entrepreneurship Policy now contains the definitions, measures, and examples. It is an inductive, case-study paper.
  • Determinants of Future Investment in U.S. Startup Cities: The empirical analysis of ESOs is now in this paper!

Research Policy Special Issue

This paper is for a Special Issue of Research Policy, organized by/for the UMM grant cohort. The deadline for submission is Nov 30th, 2019. See: https://www.journals.elsevier.com/research-policy/call-for-papers/uncommon-methods-and-metrics

Examples of questions that papers could address are:

  1. What fundamental constructs or elements might constitute a theory or theoretical base for the geographically defined entrepreneurial ecosystem?
  2. What are general definitions of entrepreneurial ecosystems so that entrepreneurial ecosystems can be measured in a consistent way across all sectors?
  3. What key relationships need to be captured at the entrepreneurial ecosystem level?
  4. How should the impact of local entrepreneurial ecosystems on economic growth at the national level be measured?
  5. Whose performance (and what) should be measured? Should researchers look at a mix of short- and long-term measures?
  6. Do existing rankings for entrepreneurial ecosystems measure what they claim to measure?
  7. To what extent are entrepreneurial ecosystems and innovation related?
  8. What are the salient levels of analysis (e.g., cultural, institutional, spatial) to consider when analyzing entrepreneurial behavior?How do the characteristics of entrepreneurial ecosystems vary by country?
  9. By which mechanisms do entrepreneurial ecosystems get established, mature, decline, or get renewed?
  10. What are the trade-offs between attracting entrepreneurs to a city, and solving urban problems such as affordable housing?
  11. Under what circumstances could a university be considered an ecosystem, and how does this interact with entrepreneurial ecosystems?What are more finely grained evaluations of the effectiveness of policy instruments that capture connections and ties across entrepreneurial ecosystems?
  12. To what extent is government policy accelerating or inhibiting the progress of entrepreneurial ecosystems?

Data and Analysis

The paper uses VCDB20 and US Startup City Ranking, as well as a wealth of old McNair material. Sources include (copied to the project folder unless otherwise noted):

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