Exploring the Entrepreneurial Ecosystem in Albania: Funding, Mentorship, and Support Networks

Abstract

This research examines the entrepreneurial ecosystem in Albania, focusing on the availability of funding, mentorship opportunities, and the effectiveness of support networks. Employing a mixed-methods approach, the study integrates data from surveys distributed to 280 participants and 15 in-depth interviews with various stakeholders in the entrepreneurial landscape. The findings reveal that funding accessibility remains a significant challenge for entrepreneurs in Albania, with a predominant reliance on informal sources such as personal savings and family support. The mentorship available is often of average quality, indicating a need for more specialized and industry-specific guidance. Additionally, while support networks like incubators and accelerators exist and provide some degree of support, their effectiveness is moderate, and there is room for enhancement. The research highlights the critical areas where the Albanian entrepreneurial ecosystem can be strengthened and suggests that efforts to enhance funding accessibility, mentorship quality, and the effectiveness of support networks could significantly contribute to the growth and sustainability of entrepreneurship in the country. The study provides a foundational understanding of the current entrepreneurial ecosystem in Albania and offers a path for future research and policy development.