Creating a Functioning Startup Ecosystem: Case Study Finland

The main aim of this thesis is to understand what a startup ecosystem is in practice, what it provides to startups and answer the research question “How to build a functioning startup ecosystem?” The startup ecosystem of Finland is taken as the subject for this case study in order to conduct an in-depth analysis of the ecosystem. This research is descriptive in nature. The data collection is done using a qualitative approach by taking semi-structured interviews of five active members - entrepreneurs - of the Finnish startup community. The inductive thematic method was taken for data analysis. \n \n This study aims to provide a detailed understanding of startups, their impact and the startup ecosystems in which they develop. The main finding of this thesis points out that universities, incubators and investors have the biggest impact to form a successful startup ecosystem. Additionally, this study shows that Finland’s strategy to adopt a hyper collaborative startup community was helpful to succeed in becoming one of the top global startup ecosystems. The results of this study verified the claim that entrepreneurs should lead the process of building the startup ecosystem. This research provides a framework comprising all the key components along with the explanation of key role players and how they contribute to building a successful startup ecosystem. This thesis can be beneficial to all the stakeholders of the startup community who want to form a sustainable and functioning startup ecosystem in their city.