Climbing up the regional intellectual capital tree: an EU entrepreneurial ecosystem analysis

Purpose This study responds to calls by researchers to examine the relation between innovation and entrepreneurial ecosystems more closely, and also to further broaden our understanding of regional intellectual capital formation. Design/methodology/approach A cross-sectional analysis was conducted on NUTS 2 regions of the selected EU countries. In the empirical part of the research, multiple linear regression approaches were carried out using secondary data. Findings In sampled regions, the entrepreneurial ecosystem positively affects levels of high growth firms and levels of regional innovation capital. Practical implications Results lend further support to policymakers to develop and implement a regional-specific policy for fostering entrepreneurial ecosystems. However, given the multiple output nature of entrepreneurial ecosystems, this issue becomes more complicated than ever before. Originality/value This study builds upon previous research and complements it by widening the range of effects that the entrepreneurial ecosystem has. In doing so, this study is the first to examine the concurrent effects of these ecosystems on levels of high growth firms and innovation capital while using a regional innovation capital outlook.