During the last 5 years, the entrepreneurship literature has focused on the elements that integrate entrepreneurial innovation ecosystems (Acs et al., 2017), as well as on the contribution of diversity in entrepreneurship across contexts (Urbano et al., 2019). In this vein, several academics have provided insights about how authorities design policies by combining mechanisms that support supply–demand needs and by configuring the most favorable conditions to boost innovative entrepreneurship (Autio et al., 2014 Foray et al., 2012 Guerrero, Herrera, & Urbano, 2019). In the European context, policymakers have encouraged the smart specialization on sectors/technologies as a strategy to be competitive and entrepreneurial (Foray et al., 2012 Mccan & Ortega-Argilés, 2015), and configure entrepreneurial innovation ecosystems (Autio et al., 2014 Acs, Estrin, Mickiewicz, & Szerb, 2017). Therefore, the entry, the exit and survival rates are strongly related to the quality of environmental conditions (Porter, 1980 Urbano, Guerrero, Ferreira, & Fernandes, 2019).īoth policymakers and academics have paid attention to the ecosystem conditions that encourage entrepreneurial innovations and high-potential entrepreneurship (Guerrero & Urbano, 2019). In this vein, it is essential to acknowledge the critical role played by SMEs on entrepreneurship, innovation, employment and economic growth. This allocation strategy holds particular significance when the business density in European countries is integrated by small and medium-sized enterprises (SMEs) that contribute 66.5% of employment and 57.8% of the gross added value generated by the private sector (Foray et al., 2012). In Europe, a good example is the allocation of public resources on mechanisms for stabilizing the economy, kick-starting growth, and tackling systemic risks. Several authors have recognized that we currently were embroiled in uncertain times (Soros, 2008 Stiglitz, 2010). The current social and economic scenarios have generated several challenges for any organization located across the globe.
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