‘Small Town’ Entrepreneurial Ecosystems : Implications for Developed and Emerging Economies

Entrepreneurial ecosystems are receiving growing attention from scholars, practitioners, and policy-makers in both developed and developing countries. Studies of this phenomenon have focused almost exclusively on ecosystems in large, urbanized regions and metropolitan areas, located primarily in developed economies. However, the prevalence of small cities across the globe and the increasing acknowledgment that entrepreneurship in small towns is a key determinant of their economic development and rejuvenation suggests that entrepreneurial ecosystems research would benefit from a broader lens of inquiry. This conceptual paper introduces the concept of small town entrepreneurial ecosystems, draws from a wide-ranging set of disciplines to delineate the ways in which small town ecosystems are similar to and different than their larger counterparts, and theorizes about several strategies small town entrepreneurial ecosystems use to overcome their limitations. The theory developed produces implications for scholars focused on entrepreneurial ecosystems, economic development, and emerging markets and suggests practical implications for policy-makers and development organizations seeking to improve the economic landscape of small cities