One step back, two steps forward: internationalization strategies and the resilient growth of entrepreneurial ecosystems

Abstract

The concept of resilience has been recently integrated into the entrepreneurial ecosystem (EE) approach, as regional economies are pressured to raise their robustness against exogenous and endogenous crises. However, the Global South, particularly Latin American countries, has unique business dynamics and paradoxes due to the informal economy, weak institutions, low level of innovation, yet high level of entrepreneurial activity and economic growth. In this study, we conducted thirty-five semi-structured expert interviews in the capital cities of Costa Rica, Peru, Chile, and Argentina. In doing so, we aim to understand the vision and strategies regarding ecosystem development in those territories, from public and private actors. Furthermore, we apply an evolutionary perspective to identify challenges or barriers to achieving resilient growth, and how to overcome these obstacles. Finally, this study extends the current literature on EE by adding three dynamics for developing resilient EEs; early internationalization strategies, digitalization, and trust-building.

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