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Venice Summer Institute 2015: The Economics of Entrepreneurship: Bringing Entrepreneurship Back into Economics

Time: Jul 24, 2015 9 AM - Jul 25, 2015 5 PM

Address: San Servolo, Venice, Italy

Since the writings of Marshall (1890) and Schumpeter (1921), entrepreneurial activities are universally considered a crucial ‘ingredient’ in promoting and sustaining economic growth. Under this notion, entrepreneurs are considered critical economic agents who turn ideas into valuable businesses. As the world economy becomes more globalised yet more agglomerated, fostering entrepreneurial talent has become ever more important: dense local clusters of entrepreneurship are the real powerhouses of modern economies, capable of leveraging local knowledge spillovers and agglomeration forces to produce the ‘Next Big Thing’ and endow it with global reach.

Despite its crucial importance to economic policymaking and a deeper understanding of the functioning of economic activities, not enough is known about what makes an entrepreneur, what role entrepreneurs play in fostering agglomeration and urban economies, and what policies are needed to successfully breed and promote entrepreneurial success.

Scientific organiser(s): Prof. Dr. Oliver Falck, Dr Stephan Heblich, Dr Olmo Silva

The aim of this workshop is to promote economics tools to study entrepreneurship. Therefore, the emphasis will be on a selection of works that investigate the following:

•  the location choice of entrepreneurs and policy interventions that can help develop
    location-specific factors;
•  the salience of entrepreneurship in the context of innovation, growth, and development;
•  the importance of individual factors as drivers of entrepreneurship – in particular the role of
    education, training and socialisation – and the effectiveness of policies aimed at stimulating them;
•  evidence on financing constraints as a barrier to entrepreneurship; and
•  the role of incubators, accelerators and other ‘pioneer’ institutions aimed at supporting start-ups
    and promoting entrepreneurial success.


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