Abstract. The topic of this thesis is role of venture capital and startup co-evolution in entrepreneurial ecosystems. Among the reasons for the topic selection are the importance of high-growth entrepreneurship for the economy. Even though the importance is widely acknowledged, the researchers and practioners have issues in recognising why certain areas gives certain results.
Therefore, this study collected, analysed and utilised literature on entrepreneurial ecosystems and generational units, collective memories and identities. The reason for this selection was made to understand entrepreneurial ecosystems and how the actors in the ecosystem shape it during and after the emergence process.
The study utilised qualitative research design as its methodological choice. An extensive case study was conducted. The selection to utilise case study research was made, because it enables to understand complex and historical processes, hence the methodological choice was well aligned with the purpose of the study.
The integration of entrepreneurial ecosystems and generational units’ literature was found to be relevant theoretical choice, because the study was able to show that the main actors (Venture capitalists and startups) have significant role in transforming the suitable conditions into concrete high-growth ventures. The results of the study propose that the characteristics of an ecosystem develops over time as an outcome of the interplay between actors and context
