Entrepreneurial Ecosystems for Social Impact: Challenges and Opportunities in Thailand

Abstract

Entrepreneurship plays an important role in economic and human development outcomes worldwide. Some entrepreneurship improves productivity, creates jobs (directly or indirectly), and applies technologies in new ways that maximize value creation. Other entrepreneurship represents last-resort employment for those with few skills and no job alternatives and does not contribute to broader economic growth outcomes. All businesses impact society and the environment; the question is what type of impact they have, and what type of impact we seek. Entrepreneurship does not occur in a vacuum; it occurs within an ecosystem of varied players, institutions, and priorities. The way the ecosystem functions and the way the ecosystem components interrelate shape entrepreneurial activity and outcomes. This article examines entrepreneurial ecosystems and considers ecosystem differences for traditional and social entrepreneurship. I present a social entrepreneurship ecosystem (SEE) analysis for Thailand, a key emerging economy in Southeast Asia. Highlighting contextual issues and examples of actors and institutions that influence social enterprise development, I suggest broader policy supports that are necessary for further development of the sector.

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