How Access to Entrepreneurial Finance Influences Performance Outcomes in Entrepreneurial Ecosystems

The extant literature on the role that access to entrepreneurial finance plays in determining the performance outcomes of entrepreneurial ecosystems is still highly fragmented. This fragmentation hinders our current understanding of a topic that is relevant for both academics and practitioners. To bring together the literature at the intersection of these domains, this paper proposes a systematic literature review based on a sample of 106 papers. The results summarize the effects that access to different forms of entrepreneurial finance, such as establishing a relationship with an accelerator, business angel, business incubator, or venture capital, or raising capital through crowdfunding or various forms of public support, has on firms within entrepreneurial ecosystems as well as the ecosystems themselves, specifically their innovation and other performance outputs. Implications for academics and practitioners are provided, as well as future research avenues.