DO THE DEFINITIONS OF ENTREPRENEURIAL ECOSYSTEMS STILL HOLD? EXPLORING THE EFFECTS OF THE COVID-19 PANDEMIC

Purpose: Entrepreneurial ecosystems are currently going through a transformative stage due to COVID-19 pandemic disruption. The purpose of this study is to provide a deeper understanding of how these ecosystems have adapted to new reality and how the idea of spatial proximity is changing with remote and hybrid work after the COVID-19 pandemic, specifically with regards to the access to financial, social, and human resources. Design/methodology/approach: Based on the literature and exploratory empirical study, involving survey and interviews with ecosystem stakeholders in California, we develop a conceptual framework integrating our preliminary insights on the changing nature of entrepreneurial ecosystems after the COVID-19 pandemic. On this basis, we provide propositions regarding the influence of remote and hybrid work on importance for spatial proximity to key entrepreneurial resources, which has been considered so far as the essence for emergence and growth of entrepreneurial ecosystems. Findings: The post COVID-19 reality negatively influences importance of new ventures’ spatial proximity to human and financial resources, while positively influencing importance of new ventures’ spatial proximity to social resources for emergence and growth of entrepreneurial ecosystems. Fundamentally, the underlying reason for this shift here is remote and hybrid work as a continued consequence of Covid-19 pandemic. Originality: This study provides unique insights that contribute to our understanding of how the entrepreneurial ecosystems have changed during the pandemic and how they may evolve and adapt for post-Covid reality, paving the way towards redefining this concept in theory.