Optimizing Entrepreneurial Ecosystems: Insights from Choice-based Conjoint Analysis of Chinese Entrepreneurs

Abstract

Entrepreneurship is pivotal for economic growth, and fostering urban entrepreneurship environments has gained significant attention from policymakers and scholars. This study investigates the importance of different attributes within Entrepreneurial Ecosystems (EE) and their impact on regional entrepreneurship. Using Choice-based Conjoint Analysis (CBCA), preferences of 550 Chinese entrepreneurs were examined. Results reveal that funding size, government size, and financial capital are critical attributes. Entrepreneurs with higher initial capital prioritize funding size over market potential. Moreover, entrepreneurs with lower initial capital demonstrate a significantly higher willingness to pay for relocating to regions with higher per capita deposits. These findings provide insights for local governments to tailor strategies for attracting entrepreneurs with diverse capital levels, emphasizing subsidies for large enterprises or improving local livelihoods to foster small and medium-sized enterprises.