Entrepreneurial ecosystems and industry knowledge: does the winning region take all?
研究互联网行业IPO数据发现，创业生态系统中的服务提供者（如律师、投行、风投）比初创企业更快速地向硅谷集中，表明行业知识在空间上趋于集聚。
Abstract Entrepreneurial ecosystems (EE) are composed not only of startups but also the organizations that support them. Theory has been ambivalent about whether an EE is spatially bounded or includes distant organizations. This exploratory study uses a time series of all Internet industry initial public offerings (IPO) to explore the locational changes not only of startups but also four key EE service providers: lawyers, investment bankers, venture capitalists, and board directors. We find that while the startups became only slightly more concentrated, the EE service providers concentrated more rapidly, as an industry center in Silicon Valley emerged. Our results suggest that over the industry life cycle, industry knowledge exhibits a tendency to spatially concentrate, and this results in a concentration of industry-specific EE service providers that is even greater than the more gradual concentration of startups. As a result, startups, wherever they are located, increasingly source EE services from the industrial knowledge concentration.