The Impact of Ecosystem Connectivity and Institutional Frameworks on Startup Success in Sub-Saharan Africa, Southeast Asia, and Latin America

Abstract

This study investigates the influence of entrepreneurial ecosystem factors on startup survival rates in selected emerging markets between 2015 and 2023. Utilizing panel data across diverse regions in Sub-Saharan Africa, Southeast Asia, and Latin America, the analysis employs multilevel logistic regression and Cox proportional hazards models to assess how access to finance, mentorship availability, policy support, and networking intensity affect startup longevity. The findings highlight access to finance and mentorship as the most significant drivers of survival, while policy support and networking also contribute positively but to a lesser extent. Firm-specific characteristics such as age and size further shape survival outcomes, whereas macroeconomic indicators appear less influential. These results underscore the need for integrated policy frameworks that enhance financial inclusion, institutional support, and ecosystem connectivity to promote sustainable entrepreneurship in emerging economies. The study offers valuable implications for policymakers, investors, and ecosystem stakeholders aiming to strengthen startup resilience and foster inclusive economic growth.