Abstract

This paper discusses the relationship between the entrepreneurial ecosystem and stakeholders’ groups involved in sustainable development of regions. Findings from empirical research of Latvian regions brought researchers towards improvement of entrepreneurial ecosystem model. This paper develops an ecosystem model that assists in planning and designing of regional sustainable development. Findings from empirical research might help to identify additional contribution of stakeholders groups for sustainable development of regional entrepreneurial ecosystem. Paper is aimed to improve understanding of the entrepreneurial ecosystem structure and suggesting ways for individual companies to flourish the components of entrepreneurial ecosystem. By summarizing the research results, the impact of stakeholders groups involved in the sustainable development of regional entrepreneurial ecosystem is explained.

Keywords: entrepreneurial ecosystem; stakeholders’ groups; sustainable development; regional development