The aim of this book is to analyze the relationships among entrepreneurship, regional development and culture in the current economy. Using an institutional approach, it examines the main theoretical issues and practices and their effect on different dimensions of society and the economy.
Business creation is considered a key element of economic growth, innovation and employment. In recent years, entrepreneurial scholars have studied the factors that affect entrepreneurship and drive economic growth. In doing so, these scholars have aimed to understand what promotes entrepreneurial activity and also how to improve the development of regions or countries to increase wealth in society. The institutional approach can be applied to the entrepreneurship field to understand the phenomenon of entrepreneurship. This view considers the role of environment in the decision to create a company, which is critical to entrepreneurship, innovation and economic growth. Environment relates to legal aspects, public policy and support services (formal institutions) but is especially important in terms of sociocultural context (informal institutions). The creation of new ventures is greatly influenced by culture. Furthermore, it is important to highlight the influence of entrepreneurship on regional development, specifically through job creation, stimulation of economic growth and innovation. Thus, entrepreneurship, regional development and culture are fundamental for understanding economic growth and development as well as other phenomena such as technology transfer or goods and services exportation.
