Entrepreneurship ecosystems and innovation hubs are critical for fostering economic growth in emerging economies such as Ethiopia. A qualitative research approach was employed to gather insights from various stakeholders including entrepreneurs, policymakers, and academic institutions. Despite several initiatives, there is a significant underutilization of existing resources leading to suboptimal impact on local entrepreneurship development. Current efforts need to be more focused and integrated across sectors to maximise their effectiveness in promoting innovation and economic growth. Stakeholders should collaborate more closely to leverage synergies, enhance resource allocation, and ensure alignment with broader national development goals.