Warich Ngamkanjanarat

Worcester Polytechnic Institute, United States

Understanding Growth Barriers and Entrepreneurial Ecosystem: Dynamics for High-Growth SMEs in Bangkok

Biography

Warich Ngamkanjanarat is a PhD candidate Business Administration – Entrepreneurship in Fall 2023, focusing on Entrepreneurial Ecosystems. He is currently conducting research on regional entrepreneurial ecosystem under Dr. Rosanna Garcia and serves as the Entrepreneurship Program Manager at WPI’s i3 Lab startup incubator. He received a full merit-based scholarship from Thailand's Ministry of Science and Technology to study in the United States from his Bachelor's to PhD. He has collaborated with Suranaree University of Technology and the Thai government to strengthen Thailand's startup ecosystem and contribute to policy discussions in this space.

Abstract

This study investigates the structural and dynamic factors shaping the growth of high-growth small and medium-sized enterprises (SMEs) within the entrepreneurial ecosystem of Bangkok. The primary objective is to understand how productive entrepreneurship can be effectively nurtured in an emerging regional context by identifying key ecosystem components, growth barriers, and policy-relevant leverage points. The scope of the research focuses on examining both the conceptual foundations of entrepreneurial ecosystems and their real-world application in Bangkok, a major economic hub in Southeast Asia.

A multi-stage research design is employed. First, a systematic literature review is conducted to develop a theoretical structural model of regional entrepreneurial ecosystems, synthesizing findings into a causal loop diagram (CLD). Second, qualitative semi-structured interviews with approximately 20 ecosystem stakeholders, combined with archival and content analysis, are used to construct a context-specific model of Bangkok’s ecosystem. Third, system dynamics modeling and simulation analysis are applied to examine ecosystem behavior over time and evaluate alternative intervention strategies.

The expected results include three key outputs: a generalized conceptual model of entrepreneurial ecosystems, a refined Bangkok-specific structural model incorporating local dynamics, and a computational simulation model. These findings will reveal critical ecosystem factors influencing SME growth, highlight structural constraints, and identify effective policy interventions for fostering high-growth entrepreneurship.

In conclusion, the study advances understanding of how ecosystem structures and interactions shape SME growth in emerging regions. It provides both theoretical contributions and practical insights, offering a robust, evidence-based framework for policymakers to design targeted interventions that strengthen entrepreneurial ecosystems and promote sustainable high-growth firm development.