Economics and Business
ISSN 2775-9237 (Online)
Published: 29 July 2020
The Entrepreneurial Ecosystem in the Caribbean
University of Trinidad and Tobago
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Keywords: Entrepreneurship, Entrepreneurial Ecosystem, Education, Government, Entrepreneurial Activities
The research study was conducted to analyse the entrepreneurial ecosystem in the Caribbean. The aim of this research study was to investigate the impact of education, industry and government on the entrepreneurial ecosystem’s development. The research study utilised a secondary research method as well as a critical review of the literature. The research method proved to be helpful in investigating the research issue, and I critically analysed the findings of prior authors. This study found that educational institutions, as well as strategies followed by the government, play a key role in developing the entrepreneurial ecosystem within a country. The ecosystem of entrepreneurship can be viewed as a combination of monetary, educational, and social environments that can either promote entrepreneurship or influence the way entrepreneurship evolves in the area. The evaluation of different educational institutions based on environmental structure, internal key capabilities, research, growing reputation, entrepreneurial activities, and teaching methods, along with the availability of financial resources, showed that the educational institutions in the region are on the right path. However, the lack of quality entrepreneurial education, internationalisation, and exposure to worldwide export markets are some of the factors that are deterrents in achieving a quality entrepreneurial ecosystem.
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