CONTEMPORARY TENDENCIES OF THE START-UP ECOSYSTEM DEVELOPMENT
Abstract
This article looks at some of the unique characteristics of start-ups and how important they are to the economy as a whole. We also look into whether the pandemic's aftermath bucked these trends and look into the causes of the long-term decline in global entrepreneurship. The ecosystem that surrounds IT companies is still in its infancy. The key strengths of the ecosystem are its founders' high levels of education, talent pooling, and links to worldwide knowledge networks, all of which are largely due to foreign institutions and accelerator programs. However, most entrepreneurs have never held a management position before, and their lack of experience and youth sometimes restrict their ability to make sound business decisions. This research seeks to better knowledge of the present situation of the start-up ecosystem and provide recommendations for policy makers and other stakeholders who are interested in supporting the ecosystem's development and sustainability.
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