Book Title: Strategic Horizons in the Modern Management
Editors: Dr. D. Kinslin, Dr. S. Edmund Christopher, Dr. K. Sankar Ganesh, and Dr. S. Fenin Samuel
ISBN: 978-81-69297-58-5
Chapter: 9
DOI: https://doi.org/10.59646/715/9
Author: Dr. Thanga Durai
Abstract
This chapter examines the role of entrepreneurship and startup ecosystems in driving economic growth and innovation in the modern economy. It defines entrepreneurship and explores its various forms, including traditional, social, and tech entrepreneurship. The chapter discusses the components of a successful startup ecosystem, such as educational institutions, funding sources, incubators, and accelerators, and highlights the significance of networking and mentorship in fostering entrepreneurship. Common challenges faced by startups, including access to capital, regulatory barriers, and market competition, are also addressed. The chapter explores the impact of technology on entrepreneurship, focusing on how digital platforms and innovations facilitate business operations and market entry. Finally, it predicts future trends in entrepreneurship, including shifts toward sustainability and social impact ventures, and provides recommendations for policymakers and investors to support startup ecosystems.