Entrepreneurial ecosystems in Science-based firms: building a theoretical approach

An explorative study is conducted in the area of Lyon, France, which is one of the most vivid area in France for the flourishing of new biotech firms. Fifteen case studies of new science-based firms (NSBFs) were collected. Adopting the Critical Incident Technique (CIT) was possible to capture the causal effect relationships between firms and the other elements of the entrepreneurial ecosystem (EE) and consistent constructs were built for theoretical formulation. The study provides evidences to the EE approach showing that institutions coordinated and focused on the main capabilities and excellence of the area make an extraordinary contribution to firm birth especially during the initial part of science firms’ development where networks, investors and human resources are at the center of firm’s agendas. After this initial period the influence of the entrepreneurial ecosystem loses is strength opening the boundaries to a much broader plethora which comprehends foundations, incumbent firms, clients and institutions at international level. The private sector and especially the family Mérieux plays a fundamental role in this process even if not directly involved, indirectly through controlled firms or international presence. Despite every area is unique and the study focuses on science-based firm growth created in the area of Lyon, the results show that the EE can be a consistent theoretical construct and further studies should take place to advance this promising approach.