Generating resources through co-evolution of entrepreneurs and ecosystems

Abstract

Purpose The emerging perspectives of entrepreneurial ecosystems, bricolage and effectuation highlight the interaction between the entrepreneur and the surrounding community, and its potential for creative resource acquisition and utilization. However, empirical work on how this process actually unfolds remains scarce. This paper aims to study the interaction between the opportunity construction process and the development of resources in the surrounding ecosystem. Design/methodology/approach This paper is a qualitative analysis of the extreme case of Aalto Entrepreneurship Society (Aaltoes), a newly founded organization successfully promoting entrepreneurship within a university merger with virtually no resources, based on interviews of six key contributors and four stakeholder organizations. Findings The opportunity construction process both supported and was supported by two key resource generating mechanisms. Formulating and opportunistically reformulating the agenda for increasing potential synergy laid the groundwork for mutual benefit. Proactive concretization enhanced both initial resource allocation and sustaining input to the process through offering tangible instances of specific opportunities and feedback. Research limitations/implications Although based on a single case study in a university setting, proactive concretization emerges as a promising direction for further investigations of the benefits and dynamics of entrepreneur–ecosystem interaction in the opportunity construction process. Practical implications Intentionally creating beneficial entrepreneur–ecosystem interaction and teaching proactive concretization becomes a key goal for educators of entrepreneurship. Originality/value The paper extends an understanding of creative resource generation and utilization in the opportunity construction process. The role of proactive concretization was emphasized in the interaction of the entrepreneur and the ecosystem, creating virtuous spirals of entrepreneurial activity.