Relative Performance of Entrepreneurship Ecosystem for Selected Countries Using a Composite Z-score Technique of Index Estimation

Ajay K. Singh

Associate Professor, Department of Humanities & Social Sciences, Graphic Era Deemed to be University, Bell Road, Clement Town, Dehradun – 248002, Uttarakhand, India.

Correspondence: [email protected]

Received: April 17, 2023,    Revised: September 13, 2023,     Published: December  1, 2023


The entrepreneurship ecosystem plays a positive role to increase social-economic and environmental development, financial development, technological advancement, and sustainable development in several dimensions. Earlier studies used different indicators for establishing empirical relationship between entrepreneurship ecosystem and macro level indicators. Therefore, there is no universal indicator of entrepreneurship ecosystem in the existing literature to observe its position across countries. Due to stated research gap, this study develops entrepreneurship creativity index (ECI) as an integration of 12 factors which are recommended vital determinants of entrepreneurship ecosystem by Global Entrepreneurship Monitoring (GEM). Accordingly, simple descriptive analytical technique is used to generate ECI across 53 countries during 2010–2018. The descriptive findings indicate that there appeared a significant variation in entrepreneurship ecosystem among the 53 countries. Most developed countries could improve their position in entrepreneurship ecosystem effectively. While most upper and lower middle-income countries could not increase their performance in entrepreneurship ecosystem due to low business opportunities, low transfer of technology, flexibility in IPR regime, R&D infrastructure, low R&D expenditure, and low technological upgradation. Entrepreneurial behavior and attitude, entrepreneurial skills and efficacy, and entrepreneurial education and training help to enhance entrepreneurship ecosystem. FDI inflow and outflow, self-employed and trust of investors on government policies help to nurture a conducive entrepreneurship ecosystem.

Keywords: Entrepreneurship ecosystem; Entrepreneurship creativity index; Technology transfer and commercialization; Entrepreneurial behavior and attitude; Social-economic development.

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Kumar, A. (2023). Relative Performance Of Entrepreneurship Ecosystem For Selected Countries Using A Composite Z-Score Technique Of Index Estimation. Eurasian Journal of Management & Social Sciences, 4(2). doi:10.23918/ejmss.V4i2p1

© Kumar, A, Published by EJMSS. This article is published under the Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0) license. Anyone may copy and redistribute the material in any medium or format, subject to full attribution to the original publication and authors. The full terms of this license may be seen at


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