Projectification and Partnering: An Amalgamated Approach for New Venture Creation in an Entrepreneurial Ecosystem

Zhengwei Li, Jixun Liu, Feirong Wang, Senmao Xia and Xiaoxian Zhu

Emerging Markets Finance and Trade, 2020, vol. 56, issue 13, 3134-3152

Abstract: The creation of a new venture is at the heart of entrepreneurship. Chinese governments at different levels are proactive in promoting the entrepreneurial ecosystem (EE) and fostering new venture creation (NVC). However, it is still far from clear how governments as focal actors in the EE affect and regulate the process and pattern of NVC. This study borrows from the theory of temporary organization and conducts a comparative case study of two entrepreneurial projects in the Hangzhou Dream Town EE. This study proposes an integrated conceptual framework to illustrate NVC in two dimensions of projectification (the process of NVC) and partnering (a pattern of NVC) and specifies that the main role of local governments is as a sponsor, feeder, and endorser in that order. The three functional roles enable local governments to catalyze the creation of new ventures through projectification and partnering. Our study not only contributes to the literature on entrepreneurship, governance theory, and the theory of temporary organization but also provides an actionable approach for governments to foster new ventures, especially in transition economies such as China.

Date: 2020
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DOI: 10.1080/1540496X.2019.1578210

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