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Comparative Analysis of Entrepreneurial Ecosystems by Country and Implications

  • Analyses & Alternatives
  • Abbr : A&A
  • 2024, 8(2), pp.117~140
  • DOI : 10.22931/aanda.2024.8.2.005
  • Publisher : Korea Consensus Institute
  • Research Area : Social Science > Social Science in general
  • Received : May 13, 2024
  • Accepted : June 12, 2024
  • Published : June 30, 2024

Jin-Chul Kim 1 Sang-Hee Jung 2 Donghyub Shin 3 Hwanseok Choi 2 Seunghye Lee 4

1Korea SMEs & Startups Institute
2The Institute for Democracy
3The Korean Institute of Defense Technology
4Sangmyung University

Accredited

ABSTRACT

Major countries are actively pursuing policies to promote entrepreneurship to foster economic growth and employment. Meanwhile, although South Korea’s entrepreneurial ecosystem has shown robust quantitative growth since the COVID-19 pandemic, it is still criticized for its shortcomings compared to other major countries. Based on this, this study aims to derive a comprehensive innovation entrepreneurship index for each country to foster an innovative entrepreneurial ecosystem and sustainable growth in South Korea. Specifically, this study first analyzed the entrepreneurial ecosystem of various countries. Second, we utilizing data from sources such as the Global Entrepreneurship Monitor, Global Innovation Index, and World Bank, the study calculates a comprehensive innovation entrepreneurship index for each country. Finally, this study analyzes the type of South Korea’s innovation entrepreneurship index and suggests the future direction of through cluster analysis.

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