Case Study on the Dynamic Evolution of PEN Entrepreneurial Ecosystem—The Perspective of Opportunity Identification and Exploitation Adaptation

Since 2015，with the Central Committee calling on “innovation of mass entrepreneurship”，high-tech entrepreneurship has become an important issue of common concern in all circles at home. The essence of entrepreneurship is to identify and utilize entrepreneurial opportunities. The success of it will depend on the close cooperation between teams，governments，universities and investment institutions. This study takes the three entrepreneurial processes of the Parent-child Education Networks（PEN） which is typical high-tech startups as a case study. Based on the adaptability perspective of opportunity recognition and utilization，we explore the process mechanism of the dynamic evolution of PEN entrepreneurial ecosystem. Through the case study，it is found out that the three entrepreneurial ecosystems of entrepreneurs have experienced three stages：capital-dominated entrepreneurship，market-led entrepreneurship and entrepreneurial-dominated entrepreneurship. Each stage has different characteristics of identifying and utilizing entrepreneurial opportunities. It is revealed that the continuous adaptation of entrepreneurial opportunity recognition and utilization promotes the dynamic evolution of entrepreneurial ecosystem in PEN of the typical high-tech startups，and the opportunity view of entrepreneurs is the key factor to promote the development of entrepreneurial ecosystem.