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Objectives. Increase understanding of community-based entrepreneurship modelsLearn how other communities are implementing elements of these modelsExplore Extension's role in helping communities implement these principles. Agenda. Introduction
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1. Community-Based Models for Entrepreneurship
2. Objectives Increase understanding of community-based entrepreneurship models
Learn how other communities are implementing elements of these models
Explore Extension’s role in helping communities implement these principles
3. 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
4. Introduction Economic Development 101
We’ve been here before and communities have responded
A new way to think about economic growth
5. Economic Development 101
6. Industrial Attraction
The economic development tool of choice for the last 30 years
7. 2007 Industrial Attraction IEDC announced 15 industrial location projects 75+ jobs)
91 local economic development organizations in Indiana
1 in 6 bagged an elephant
8. A New Model
9. OSED
10. 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
11. 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
12. The Billion $ Question What makes a community “sticky” when it comes to its entrepreneurs?
13. Were finally beginning to learn about Entrepreneurs
14. Think of Entrepreneurship as a Horserace
15. Entrepreneurship: A Horse Race The Horse – The Business Idea
16. Entrepreneurship: A Horse Race The Horse – The Business Idea
The Jockey – The Entrepreneur
17. Entrepreneurship The Horse – The Business Idea
The Jockey – The Entrepreneur
The Track – The Community
18. Community Support Systems for Entrepreneurship
19. The Entrepreneurship-Supportive Community Supportive policy environment
History, culture, institutional memory
Attitudes about failure
Collaborative support organizations
Celebrate entrepreneurs
An information-rich environment
20. Who’s Job Is it to Tend to the Track? Chamber
LEDO
Elected Officials
Banks
Schools/University
Extension
???????
21. Some Models Supporting Youth Entrepreneurs
Entrepreneurial League System
Economic Gardening
Entrepreneurship Coaching
22. Supporting Youth Entrepreneurship Presented by
Jeff Sanson
Director, Programs
Indiana Council for Economic Education
February 7, 2008
23. Youth Interest in Entrepreneurship Kauffman Foundation survey
http://www.kauffman.org/items.cfm?itemID=939
24. What do Youth Entrepreneurs Need? Opportunities for growth and skill development
Supportive communities
Role models and mentors
Access to networks and resources and markets
25. An Entrepreneur Lifelong Learning Model
26. Available at http://www.entre-ed.org/Standards_Toolkit/nurturing.htm
27. 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
28. 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)
29. 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
30. Entrepreneurship Week USA 2008 FEBRUARY 23 - MARCH 1, 2008
31. Entrepreneurial League System®
32. 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
33. ELS ® Skill Categories Technical
Managerial
Entrepreneurial
Personal Maturity Skills
34. 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
35. 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
36. Where is ELS® Advantage Valley (WV, OH, KY)
Central Louisiana
North Carolina
37. Economic Gardening
38. 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
39. Economic Gardening Information
Infrastructure
Connections
40. Economic Gardening Information
Business information
Real estate activity (using GIS)
eCommerce training
Advanced management techniques
systems thinking,
temperament,
complexity theory, and
customer service strategies
41. Economic Gardening Infrastructure
Physical
Quality of Life
Intellectual
42. Entrepreneurship Coaching
43. Entrepreneurship Coaching University of Kentucky Extension
Regional in Scope
Specialized Training for Coaches
Each coach works with 8-10 entrepreneurs
44. 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?
45. For More Information Scott Hutcheson
Assistant Program Leader, Economic & Community Development
Purdue University
Purdue Extension & Purdue Center for Regional Development
Burton D. Morgan Center for Entrepreneurship
1207 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)