![]() Gazelles and unicorns (high growth ventures) are proliferating at a breathtaking pace yet, the true heartbeat of a vibrant economy is the growth of small and medium sized ventures. Thus, we ask quo vadis - where will the focus of entrepreneurship be post-COVID-19 - centralization or democratization? For researchers and policy makers, shedding some light on this question may help in the formulation of research agendas and policy directions.Įntrepreneurship is at a crossroads. These giant corporations are now viewed through the prism of entrepreneurship. ![]() However, the entire realm of entrepreneurship appears to drifting slowly away from the importance of smaller firms and focusing the entire emphasis on the relatively few tech giants. Thus, it is clear that in developed countries, small firms are the economy. However, the facts show that small- and medium-sized enterprises (SMEs) account for over 90% of businesses and 50% of employment of the worldwide population, contributing up to 55% of GDP in developed economies. In 2021, there were more than 700 ventures that have been valued at $1 billion or more by venture capitalists, and there seems to be a continued trend in more arising. Gazelles (high-growth), unicorns (ventures valued at $1 billion), and decacorns (ventures valued at $10 billion) appear to be dominating the landscape of entrepreneurship.
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