Post on 21-Dec-2015
Community-Based Models Community-Based Models for Entrepreneurshipfor Entrepreneurship
February 7, 2008 -IP Video
Scott Hutcheson, Assistant Program Leader, ECD
Jeff Sanson, Director, Programs ICEE
Objectives
1. Increase understanding of community-based entrepreneurship models
2. Learn how other communities are implementing elements of these models
3. Explore Extension’s role in helping communities implement these principles
Agenda
• Introduction & Overview of Survey – 30 min• Supporting Youth Entrepreneurs – 30 min• Entrepreneurial League System – 15 min• Economic Gardening – 15 min• Entrepreneurship Coaching – 15 min• Extension’s Role in Community-Support
Systems for Entrepreneurship – 30 min
Introduction
• Economic Development 101
• We’ve been here before and communities have responded
• A new way to think about economic growth
2007 Industrial Attraction
• IEDC announced 15 industrial location projects 75+ jobs)
• 91 local economic development organizations in Indiana
• 1 in 6 bagged an elephant
Innovation & Entrepreneurship
• Introduction of new products & processes each year
• Only 15% of businesses are typically innovators – usually have high growth trajectory
• When 50% of business are innovators you have an entrepreneurship/innovation culture
Not Always “High Tech”• A BBQ restaurant starts bottling and
selling sauce
• A dry cleaners develops a new “green” process and licenses the new process
• A beauty shop develops a new way to train stylists and goes nationwide
http://www.acenetworks.org/upload_files/file/Regional%20Flavor%20June.pdf
The Billion $ QuestionThe Billion $ Question
What makes a community “sticky” when it comes to its entrepreneurs?
Were finally beginning to learn Were finally beginning to learn about Entrepreneursabout Entrepreneurs
Entrepreneurship
• The Horse – The Business Idea
• The Jockey – The Entrepreneur
• The Track – The Community
Community Support Systems for Community Support Systems for EntrepreneurshipEntrepreneurship
Taking Care of Taking Care of the Trackthe Track
The Entrepreneurship-Supportive Community
• Supportive policy environment• History, culture, institutional memory• Attitudes about failure• Collaborative support organizations• Celebrate entrepreneurs• An information-rich environment
Who’s Job Is it to Tend Who’s Job Is it to Tend to the Track?to the Track?
• Chamber• LEDO• Elected Officials• Banks• Schools/University• Extension• ???????
Some Models
• Supporting Youth Entrepreneurs
• Entrepreneurial League System
• Economic Gardening
• Entrepreneurship Coaching
Supporting Youth Entrepreneurship
Presented byJeff Sanson
Director, ProgramsIndiana Council for Economic Education
February 7, 2008
Youth Interest in Entrepreneurship
• Kauffman Foundation survey
• http://www.kauffman.org/items.cfm?itemID=939
What do Youth Entrepreneurs Need?
• Opportunities for growth and skill development
• Supportive communities
• Role models and mentors
• Access to networks and resources and markets
An Entrepreneur Lifelong Learning Model
Entrepreneur Lifelong Learning Model– From the Consortium for Entrepreneurship Education
www.entre-ed.org/– Image available at
www.entre-ed.org/Standards_Toolkit/nurturing.htm
Models of Youth Entrepreneurship Support and
Education• Youth activities – 4H, FFA• Entrepreneurship "Boot" Camps • Entrepreneur Showcases / Fairs• Integrated Classrooms – overarching theme• Courses / Units - Primarily High School and
Middle School guided by textbook • Business Plan Competitions
For more information
• Energizing Youth Entrepreneurs in Rural Communitieshttp://www.energizingentrepreneurs.org/content/cr_7/2_000240.pdf– Article from RUPRI Center for Rural
Entrepreneurship and the staff of HomeTown Competitiveness (HTC)
Resources
• Youth Entrepreneurship links– www.entre-ed.org (good starting point)– www.extension.org/pages/
Seeding_a_Successful_Future:_Youth_Entrepreneurship
• RUPRI - Energizing Entrepreneurs Websitehttp://www.energizingentrepreneurs.org/
• JOE article on Youth Entrepreneurshiphttp://www.joe.org/joe/1998october/rb2.html
About the ELS®
• Based on two assumptions– Entrepreneurs possess a set of skills– No two entrepreneurs come with the same
set of skills
• Designed after a pro baseball league
• Addresses needs of entrepreneurs by level
Entry into the ELS®
• One entry point
• Gatekeeper organization has 6 functions
• Entrepreneurs' skills are assessed and designated into a league– Rookie, A, AA, AAA
Benefits
• Assistance to entrepreneurs based on entrepreneurs needs
• Service providers don’t need to be all things to all entrepreneurs
• For the community, the program is scalable and shows gaps and overlap in services
Economic Gardening• Littleton, CO developed and began to execute
the strategy in 1989• Focused on “wealth” creation not “job”
creation• Eliminated all incentives and tax breaks for
business recruitment• Since 1989, more than doubled the number of
jobs from 15,000 to 35• Sales tax revenue tripled from $6.8 million to
$19.6 million
Economic Gardening• Information
– Business information– Real estate activity (using GIS)– eCommerce training– Advanced management techniques
• systems thinking, • temperament, • complexity theory, and • customer service strategies
Entrepreneurship Coaching
• University of Kentucky Extension
• Regional in Scope
• Specialized Training for Coaches
• Each coach works with 8-10 entrepreneurs
Extension’s Role
• What work are we currently playing?
• What roles could we play?
• What barriers might exist?
• What do we need to do next?
For More InformationFor More InformationScott Hutcheson
Assistant Program Leader, Economic & Community DevelopmentPurdue University
Purdue Extension & Purdue Center for Regional Development
Burton D. Morgan Center for Entrepreneurship1207 W. State Street, Room 227
765-494-7273 (office)765-494-3200 (fax)
765-479-7704 (mobile)hutcheson@purdue.edu
http://pcrd.typepad.com/ecd (blog)