Decoding value exchange in entrepreneurial ecosystems through a service-dominant lens

Research on entrepreneurial ecosystems has consolidated over the past decades. This study ventures beyond traditional analyses that primarily focus on quantitative outcomes to investigate the foundational processes that can facilitate a range of socio-economic advantages. Recognizing a gap in the existing literature, which often correlates input factors with anticipated benefits yet struggles to unearth underlying mechanisms, our research offers a novel perspective through applying a network-centric service ecosystem lens grounded in a service-dominant logic. Utilizing a qualitative approach based on pragmatic abduction, 16 narrative interviews explored the experiences and perspectives of multiple entrepreneurial actors within a privately governed Spanish ecosystem. Findings present a conceptual model that bridges emphasis between structure and outcomes with those of agency and strategy. Entrepreneurial ecosystems are interactive hubs where entrepreneurs and various other business-related players collaborate in helping to create new companies and jobs in our communities. Traditionally, entrepreneurial ecosystem success is measured by looking at the number and growth rate of new startups. But is this the complete picture? In our study, we went deeper trying to understand not just what makes these ecosystems successful (like creating new startups), but also how they manage to do it. By interviewing 16 entrepreneurial ecosystem members in a privately governed Spanish ecosystem, we unraveled the processes and mechanics that help new businesses emerge and thrive. The key implication of this study is the recognition that the entrepreneurial ecosystem is composed of multiple actors who exchange services in search of multiple valued outcomes.