The startup ecosystem refers to the interconnected network of individuals, organizations, and resources that support the creation and growth of new businesses. This ecosystem includes entrepreneurs, investors, mentors, and service providers, all working together to foster innovation and economic development. Key components often include incubators, accelerators, and venture capital firms that provide funding and guidance to startups.
A thriving startup ecosystem can significantly impact a region's economy by creating jobs and attracting talent. Cities like Silicon Valley and New York are prime examples, where a rich mix of technology, investment, and entrepreneurial spirit drives success. The collaboration among various stakeholders is essential for nurturing startups and helping them scale effectively.