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Building an Entrepreneurial Region: What Role for
Public Policies?
Erik R. PagesEntreWorks Consulting
VCEN ConferenceRoanoke, VA June 3, 2014
The Good News: Our Message is Being Heard!◦ What’s Happening in the Field Now
The Bad News: Sustaining Momentum is Tough!
What Can You Do in Your Community?
June 3, 2014
Today’s Talk
Washington embracing entrepreneurship in multiple forms:◦ Regional Development: StartUp America, Regional
Innovation Clusters (EDA), etc. ◦ Social Innovation: White House Social Innovation Fund◦ Foreign Policy: State Dept. Global Entrepreneurship Program
States◦ NGA Initiatives on:
Growing State Economies Innovation, Entrepreneurship & Manufacturing
Local Level◦ Huge boom in economic gardening◦ Traditional business attraction models losing favor
June 3, 2014
The Good News: Our Message is Being Heard
Regulatory Reform Promote Entrepreneurship as an
Economic Development Priority Invest in High-Quality Support Services Build the Pipeline of Future
Entrepreneurs Access to Capital
June 3, 2014
What are States/Localities Doing Now?: Priority Program Areas
Many innovative programs cut or eliminated from public budgets◦ GrowFL◦ Pipeline (Kansas)
Meanwhile, long-standing support programs are starved for funds◦ SBDCs◦ Microenterprise◦ Capital access programs
June 3, 2014
The Bad News: Sustaining Momentum is Tough
New approaches still not well understood Definitional Confusion: Entrepreneurship
vs. Small Business Goals Confusion: Empowerment vs.
Prosperity Clash between political cycles and
business cycles Attribution Issues: How do you claim
credit?
June 3, 2014
Why Sustaining is Tough
Stress Inclusion and Opportunity◦ Exclusive focus on gazelles may backfire
Entrepreneurship as Transformational Tool◦ For Individuals and Communities
Specialized programs for target markets Realism about Program Impacts
◦ “Sell” the program as part of larger portfolio
June 3, 2014
What Messages Work?
Must Serve the “Whole” Market◦Avoid targeting if you can
Community transformation does not occur through government programs
But, comprehensive solutions are hard
June 3, 2014
What Works in Practice: The Need for Holistic Solutions
Learn from the experience in other regions Build on existing assets
◦ Link to Current Existing Business Retention and Expansion Programs
Create a focus on entrepreneurs Move forward with a systems approach to
entrepreneurship development◦Policy Emphasis Shifting toward Innovation
June 3, 2014
Moving Forward
Become an Information Resource◦ Expert on your Small Business Sector
Catalyze the Local Support Network Provide a Safe Meeting Space
◦ Pay for Coffee and Doughnuts! Broker Services
◦ Link Support Providers to Local Businesses
June 3, 2014
Potential Roles for Community and Economic Developers
Screen Deals◦Help review business plans for awards or new
investments Engage Educators
◦Partner with Local Schools Introduce New Programs
◦Targeting Special Markets (e.g Latinos)◦Targeting New Issues (e.g. health care)◦Sector Strategies (www.qb3.org)
June 3, 2014
More Potential Roles
Erik R. PagesEntreWorks Consulting
www.entreworks.netBLOG: www.entreworks.net/blog
NEWSLETTER SIGNUP:http://www.entreworks.net/Newsletter.php
June 3, 2014
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