The Making of a Good Entrepreneurial Hub

credit: staceypageonline

In a Wamda post on thought leadership, it tackles what makes a good entrepreneurship hub. The article explains that a hub is not so much about the city but rather a "location that can cater to multiple geographies and provides easy access to market".

The post explains that many of the West's hubs and ecosystems were built on the Triple Helix framework principle defined by by Professors Henry Etzkowitz and Loet Leydesdorff in the 1990s. The framework has academics, corporates, and government as the backbone of the knowledge society and innovation.

The Helix has developed into a pentagon where it included entrepreneurs and their capital.

But according to the post, the Middle East contains an essential aspect to ensure the success of a hub - the quality of life. Dubai has excelled in this aspect, while other hubs, such as Egypt and Jordan have managed to create their own talent pool with strong university programmes.

Saudi Arabia has capital but its conservative societal laws are reasons that it lacks attracting talents. Bahrain, while a late starter than Dubai, has focused on fintech hubs.

The post concludes that a hub is an aggregator of companies, talent and capital. It recommends that the region's hubs would do well to work together to offer entrepreneurs different characteristics and focus and a more collaborative environment for success.

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