Vol: 15, Issue: 1 2025

Page: 28-34

Fostering Robust Entrepreneurial Ecosystems for Inclusive Growth in Rapidly Emerging Markets

Tejas Thakral

Received Date: 2024-12-20

Accepted Date: 2025-01-20

Published Date: 2025-01-24

http://doi.org/10.37648/ijtbm.v15i01.003

Emerging markets are a significant part of the global economy, characterized by rapid economic growth, innovation, and challenges. Entrepreneurship is a key driver in these markets, driving innovation, creating jobs, and fostering economic resilience. However, these markets also present unique obstacles, such as limited access to capital, weak infrastructure, and regulatory complexities. This research paper explores the nature of entrepreneurship within emerging markets to identify challenges, opportunities, and determinants of successful entrepreneurial activities. Based on some empirical studies, reports, and cases, the role of technology and government policies in ensuring growth is emphasized. Therefore, case studies from India, Brazil, and Nigeria are analyzed to highlight diverse approaches entrepreneurs use to achieve success. More importantly, the paper provides policy and strategic recommendations to governments, investors, and stakeholders who can support the sustainable entrepreneurial ecosystem. The finding underscores the transformational potential of entrepreneurship in driving economic development and innovation in emerging markets; it offers an insight into the systemic barriers to overcoming opportunities towards inclusive growth.

References

• J. E. Stiglitz, 'Globalization and its Discontents,' New York: W.W. Norton & Company, 2002.
• Global Entrepreneurship Monitor, 'Global Report 2022/23,' GEM, 2023.
• D. Audretsch, 'Entrepreneurship and Economic Growth,' Oxford: Oxford University Press, 2007.
• S. Isenberg, 'The Entrepreneurship Ecosystem Strategy,' Harvard Business Review, 2011.
• World Bank, 'World Development Indicators,' 2022.
• United Nations, 'Demographic Trends in Emerging Markets,' 2020.
• Transparency International, 'Corruption Perceptions Index,' 2021.
• M. Yunus, 'Creating a World Without Poverty,' Public Affairs, 2007.
• Startup India, 'Annual Report,' 2023.
• J. Sachs, 'The End of Poverty,' Penguin Press, 2005.
• OECD, 'Entrepreneurship Policies in Emerging Markets,' 2021.
• Hofstede Insights, 'Cultural Dimensions in Entrepreneurship,' 2020.
• McKinsey, 'Digital Transformation in Emerging Economies,' 2022.
• International Renewable Energy Agency, 'Renewables in Emerging Markets,' 2021.
• African Development Bank, 'Youth Innovation in Africa,' 2022.
• NASSCOM, 'Startup Ecosystem Report,' 2023.
• Brazilian Renewable Energy Association, 'Market Trends,' 2023.
• CBN, 'Fintech Developments in Nigeria,' 2022.
• World Economic Forum, 'Financing Entrepreneurship,' 2021.
• UNESCO, 'Entrepreneurship Education for Sustainable Development,' 2020.
• UN Women, 'Gender and Entrepreneurship in Emerging Markets,' 2023.