The Role of Social Capital in Fostering Entrepreneurial Ecosystems

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Umesh Rathod, Surbhi Rathod, Dr. Byram Anand, Prof. Perumalla Varalaxmi, Dr. Aarti Sharma

Abstract

This review research paper explores the pivotal role of social capital in nurturing and enhancing entrepreneurial ecosystems. The primary purpose of this paper is to examine the theoretical underpinnings, methodological approaches, key findings, and original contributions of existing literature concerning the relationship between social capital and entrepreneurial ecosystems. The paper establishes a robust theoretical framework by drawing upon various sociological and economic theories, including network theory, social capital theory, and resource-based view, to elucidate the intricate connections between social capital and entrepreneurial ecosystems. It also highlights the importance of social ties, trust, and shared norms in shaping the entrepreneurial landscape. The synthesis of existing literature reveals that social capital plays a multifaceted role in fostering entrepreneurial ecosystems. It facilitates knowledge exchange, resource mobilization, and access to critical networks, ultimately leading to enhanced entrepreneurial activity and innovation. However, the paper also highlights the need for further research to better understand the dynamics of social capital within different cultural and contextual settings. This review paper contributes to the existing body of knowledge by providing a comprehensive synthesis of the literature on the role of social capital in entrepreneurial ecosystems. It identifies key trends, gaps, and areas for future research, offering valuable insights for policymakers, entrepreneurs, and researchers seeking to promote and support entrepreneurship within diverse environments.

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How to Cite
Umesh Rathod, Surbhi Rathod, Dr. Byram Anand, Prof. Perumalla Varalaxmi, Dr. Aarti Sharma. (2023). The Role of Social Capital in Fostering Entrepreneurial Ecosystems. European Economic Letters (EEL), 13(4), 617–626. Retrieved from https://www.eelet.org.uk/index.php/journal/article/view/640
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