A framework for linking entrepreneurial ecosystem with institutional factors: a modified total interpretive structural modelling approach

Abstract

This paper presents a model of the interactions among and between different institutional and entrepreneurial ecosystem factors, based on a modified total interpretive structure modelling (m-TISM) approach. Previous literature holds diverse views about the influence of institutional factors on the entrepreneurial ecosystem. This necessitates a comprehensive understanding of the interrelationships among and between various factors that can impact a country's entrepreneurial ecosystem positively. The literature review identifies four institutional and three entrepreneurial ecosystem factors. The m-TISM followed by MICMAC analysis is performed for studying and analysing the mutual interaction between identified factors, and to know the driver-dependent relationships. The results identify four levels of institutional and entrepreneurial ecosystem factors, and establish the hierarchy among them. This paper proposes m-TISM based structural framework for the entrepreneurial ecosystem. It also exemplifies a phased procedure for conducting m-TISM, which could simplify the comprehension for other researchers.