Building Growth Hubs: The Influence of Entrepreneurial Ecosystem Architecture and Incubator Models on Innovation Performance

Abstract

Entrepreneurial ecosystems and business incubators are primary drivers of economic growth and innovation. These ecosystems government institutions, investors, support organisations, and universities provide critical resources that make startups successful. The performance of the systems is based on a series of factors, including favourable government policies, industry engagement, collaborative networks, available resources, a strong entrepreneurial culture, and availability of resources. This review combines theoretical frameworks and empirical studies of the existing body of knowledge to analyse how business incubators and entrepreneurial ecosystems drive innovation and economic growth. It determines the performance determinants of the systems and suggests the main research gaps, including a lack of comparative geography studies, insufficient longitudinal studies, and a lack of sophisticated models that can address policy instruments, diversity, and ecosystem dynamics. Closing the gaps will make it easier to strategically develop entrepreneurial ecosystems, ensuring that they continue to contribute to sustainable global economic growth and innovation.