The Entrepreneurial Event Revisited: Firm Formation in a Regional Context

doi:10.1093/icc/10.4.861

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Industrial and Corporate Change, Volume 10, Number 4, pp. 861-891
© 2001 Oxford University Press

The Entrepreneurial Event Revisited: Firm Formation in a Regional Context

Maryann P. Feldman

Johns Hopkins University, 136 New Engineering Building, 3400 N. Charles Street, Baltimore, MD 21217. maryann.feldman{at}jhu.edu

Abstract

This paper outlines the development of an entrepreneurial culturein the US Capitol region and the formation of a regional industrialcluster. The conditions that the literature associates withentrepreneurship lag rather than lead the development of thecluster. Supportive social capital, venture capital and entrepreneurialsupport services, as well as actively engaged research universities,are conditions that reflect the successful establishment ofan entrepreneurial culture, built by the actions of pioneeringentrepreneurs who often adapted to constructive crisis.

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