Entrepreneurial Ecosystem and Entrepreneurship: Comparative Analysis of China and G7 Countries
Absratct:In the last three decades China has developed by leap and bound, mostly by utilizing labor and capital. However, in order to enter the phase of innovation and provide innovative solutions to the emerging challenges, China needs to rely on and encourage entrepreneurship. This is only possible if China provide a better environment and conducive ecosystem to entrepreneurs. In this paper we try to investigate where China falls on the 14 pillars and 3 sub indices of Global Entrepreneurship Index. Compared with the leading economies in the world (G7), we identified the major bottlenecks in the entrepreneurial ecosystem of China. We explored that, although China is a leading economy and emerging economic power but China is lagging far behind then other developed countries, particularly United States. Compared to the United States, China’s cultural support for entrepreneurship and Startup skill is the weakest. In the last three years China showed slight improvement on Risk Capital while other indices did not show much improvement. This shows that for the comparative dynamic advantage and finding solution for more pressing problems by entrepreneurship, China has still long way to go.
Key words: China, G7, Comparative analysis, GEI, Entrepreneurial Ecosystem.