Entrepreneurship

Human Capital

Supports

Markets

Policy

Finance

Culture

Leadership Government

Finance Capital

Success stories

Societal norms

Non-Governmental Institutions

Support professions

Infrastructure

Educational Institutions

Labor

Networks

Early Customers

Micro-loans Angel investors,

friends and family Zero-stage

venture capital

VC funds Private Equity

Public Capital Markets Debt

Visible successes Wealth generation of founders

International reputation

Tolerance of risk, mistakes, failure Innovation, creativity, experimentation

Social status of entrepreneur Wealth creation

Ambition, drive, hunger

Entrepreneurship promotion in non-profits Business plan contests

venture capital

Conferences Entrepreneur-friendly

associationsLegal Accounting

Investment bankers Technical experts, advisors

Telecommunications Transportation & logistics

Energy Zones, incubation centers, clusters

General degrees (professional and academic) Specific entrepreneurship training

Skilled and unskilled Serial entrepreneurs

Later generation family

Entrepreneur’s networks Diaspora networks

Multinational corporations

Early adopters Expertise in productizing

Reference customer First reviews

Distribution channels

Unequivocal support Social legitimacy

Open door for advocate Entrepreneurship strategy

Urgency, crisis and challenge

Institutions e.g. Investment, support

Financial support e.g. for R&D, jump start funds Regulatory framework Incentives

e.g. Tax benefits

Research institutes Venture-friendly legislation e.g. bankruptcy, contract

enforcement, property rights, and labor

Ilia Kenigshtein, 2014