Entrepreneurial Ecosystem and the Growth of Technology Startups: A Case Study of Regional Innovation Clusters

Abstract

This study explores the interaction mechanism between entrepreneurial ecosystems and the growth of technology startups, with a focus on fintech innovation clusters in Asia. Adopting a case-based comparative analysis method, three typical Asian fintech clusters—Shanghai Lujiazui, Singapore, and Bangalore—are selected as research cases. Based on the theoretical framework constructed by integrating Dynamic Capability Theory and Innovation Cluster Theory, this study examines the core supporting mechanisms of entrepreneurial ecosystems (resource mobilization, network collaboration, and institutional support) and their impacts on startup growth. The research identifies three common characteristics of Asian fintech entrepreneurial ecosystems: guiding policy support, industry-university-research integration, and multi-level capital guarantees, while also revealing differentiated features driven by regional advantages such as financial resources, internationalization, and talent cost advantage. Finally, optimization paths for enhancing ecosystem effectiveness are proposed. This study enriches the theoretical framework of entrepreneurial ecosystems and provides practical guidance for stakeholders to foster regional innovation clusters.