It is important to analyze the interests of stakeholders involved in the entrepreneurial ecosystem, as the entrepreneurial ecosystem is a process in which various stakeholders interact and create value. However, the existing research emphasizes the constituents of entrepreneurial ecosystem, and there are not many studies focused on the stakeholder’s characteristics that should be the result of collaboration system between them. This study suggests the conceptual framework of stakeholder analysis so that the policy efforts of entrepreneurial ecosystem can be activated. The main result of this study shows as follows. First, it emphasizes the interests of stakeholders participating in the entrepreneurial ecosystem, thereby providing a basis for providing insights into various issues. Second, it contributed to the activation of entrepreneurial ecosystem by considering the importance of stakeholder management in various aspects. This study will contribute not only to the knowledge base of entrepreneurial ecosystem research but also to the development of university start - up ecosystem.