This study examines how political, social and economic factors influence clean energy technology entrepreneurship (CETE). Government policies supporting clean energy technology development and the development of markets for clean energy create opportunities for CETE. However, the extent to which such opportunities lead to the emergence of new clean energy businesses depends on a favorable external context promoting CETE. This study employs a novel dataset combining indicators of the policy and social context of CETE with information on clean energy technology startup firms in the USA to provide empirical evidence that technological and market conditions supporting clean energy induce more extensive CETE under contexts where local attention to clean energy issues and successful firms commercializing clean energy technologies are more prominent. By establishing that CETE is contingent upon a supportive local environment as well as technology and market opportunities, the study holds relevance for policy makers and clean energy technology firms.
- Clean energy technology
- Environmental entrepreneurship
- Environmental policy
- Venture capital funding