Fostering relevant entrepreneurial ecosystems to enable high-growth womenfounded ventures in South Africa

Abstract

Entrepreneurship and women’s economic activity positively impact society, yet women remain on the periphery of economic access and inclusion. A thriving entrepreneurial ecosystem can be strongly linked to the pervasiveness of high-growth firms, a form of entrepreneurship associated with new job creation and economic value creation. Entrepreneurial ecosystems focusing on women signify mature entrepreneurial environments and an essential basis for successful and growing economies. This study investigated high-growth entrepreneurship and gender within the South African entrepreneurial ecosystem. It aimed to uncover the elements of the entrepreneurial ecosystem that could be enhanced to enable high-growth ventures founded by women. It also contributed to the existing body of knowledge on the role of entrepreneurial ecosystems in the identification, nurturing, and growing high-growth women-founded ventures. The research study was ontologically subjective and epistemologically interpretivist, aligned with qualitative research methods. A sample of thirteen participants from entrepreneurial ecosystem support organisations and female high-growth venture business owners was interviewed. Data gathering was conducted through semistructured interviews. Moreover, an inductive analysis, with thematic coding was applied as the data analysis method of choice. The study confirmed that the entrepreneurial ecosystem plays a significant role in enabling high-growth entrepreneurial ventures; notable efforts are also being made to build high-growth women-founded enterprises. It was further established that entrepreneurial ecosystem support organisations availed tailored ecosystem services to high-growth firms and their founders. However, such availability sometimes does not translate into value extraction by the relevant founders. The study found that even though women entrepreneurs are involved in high-impact enterprises; there is a disproportionately high prevalence of them participating in entrepreneurial endeavours categorised as necessity-driven, non-technical, lifestyle oriented or low-impact. Finally, constraints within the ecosystem, specifically those associated with the State, Large Corporations, and other pertinent stakeholders became evident. Consequently, recommendations for corrective measures were put forward with the objective of enhancing the support infrastructure for women founded high-growth ventures.