Entrepreneurial Ecosystems (EE) have piqued the interest of both scholars and practitioners. While evidence shows EE positive impact on new venture formation and functioning, the specific mechanisms which these nascent entrepreneurs adopt to acquire resources remain unclear. To address this issue, we build on social capital and dynamic capabilities theory to establish a conceptual framework that explores how entrepreneurs in EE identify and acquire resources. We propose that entrepreneurs’ sense and seize opportunities by utilising various forms of social capital; and in doing so, we contribute to the EE literature by potentially characterising what constitutes a successful entrepreneurial ecosystem that fosters entrepreneurial activity. This study lays the groundwork for further research in the field of entrepreneurial ecosystems and has significant policy and practice implications.