Startup Ecosystem in the Czech Republic

A startup ecosystem is an effective method to endorse innovations and the development of the business environment along with securing the growth of the domestic product and employment in the given country. This article intends to increase the theoretical and practical knowledge of the key elements and factors that support the growth of the successful ecosystem by exploring the model of the startup ecosystem in the Czech Republic, which was set by CzechInvest Agency within the CzechEkoSystem project. The article leads to an answer of the research question, whether the developed and implemented startup ecosystem model is in line with the elements, principles, objects and iterations of standard knowledge requirements to develop the business environment. In addition the ecosystem elements are analyzed in foreign models and the own CzechEkoSystem model is described (the structure, elements, object relations) along with defining its benefits when applying in the real business environment. The article also introduces the conceptual framework of the Czech starting of the startup ecosystem and presents examples for entrepreneurs and policy makers. Finally it proposes the dynamisation of the model that can be used as a basis for further research in this area.