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Why Ecosystem-Building has Emerged as a New Approach to Economic Development

Why Ecosystem-Building has Emerged as a New Approach to Economic Development

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from 2010 to 2014, five American metro areas had the same level of business creation as the rest of the country...Rapid technological change, along with other drivers like the Great Recession and decreased dynamism are creating three economic challenges:
Divergence between geographic regions...
Concentration of startups and their value ... concentrated in a few metro regions
Growing inequality among types of workers ...
while the technology sector is growing twice as fast as the world economy... the vast majority of that wealth creation is concentrated in only a handful of places.... Startups are the key vehicle by which regions and their citizens can take advantage of technological change, and startups depend on strong ecosystems... places that fail to ... invest in startup ecosystems... will experience economic stagnation...
attraction-based economic development ... a highly competitive, zero-sum game whose economic benefits are difficult to prove.

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See also: Digital Transformation , Innovation Strategy , Business

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