A business ecosystem is a network of interconnected organisations — including companies, suppliers, distributors, customers, competitors, regulators, and complementary service providers — that co-evolve and interact within a shared environment, creating and distributing value collectively rather than through any single entity operating in isolation. The concept, borrowed from biological ecology, describes how businesses depend on and influence one another, with the health of each participant affecting the overall ecosystem's vitality. Prominent examples include India's fintech ecosystem (encompassing banks, payment aggregators, lending platforms, regulators like RBI and SEBI, and technology providers), and the Reliance-JIO ecosystem. For investors on Ventura Securities, analysing a company's position and role within its business ecosystem — whether as a platform orchestrator, keystone species, or dependent niche player — is a powerful lens for assessing competitive moats, growth optionality, and the systemic risks posed by ecosystem disruption or regulatory change.