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Building Entrepreneurial Cultures: Building Entrepreneurial Cultures: The State RoleThe State Role
Erik R. Pages
EntreWorks Consulting
NGA Policy Advisors Institute
Nashville, TN/September 19, 2005
09/19/2005 Copyright EntreWorks Consulting 2005 2
Today’s TalkToday’s Talk
What is Entrepreneurial Culture?Can We Influence It? If so, how?The Gold Plated Model: Overseas
ApproachesThe Scaled-Down Model: Suggestions
for Governors
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What is Entrepreneurial What is Entrepreneurial Culture?Culture?
Tolerance for RiskAcceptance of FailureAbility to Identify OpportunitiesCommitment to InnovationCommitment to Collaboration
– Networks of Entrepreneurs and Service Providers
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Tracking Entrepreneurial Culture: Tracking Entrepreneurial Culture: Three Tests Three Tests
The Local Party Test– I’m starting a business. What do you
think?The Business Failure Test
– What happens when a firm fails?The Parental Aspiration Test
– Do you want your child to be an entrepreneur?
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What Builds an What Builds an Entrepreneurial Culture?Entrepreneurial Culture?
HistorySocietal AttitudesEducation PracticesBusiness PracticesRole Models
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Three Tools for Influencing Three Tools for Influencing Business CultureBusiness Culture
Increase the Supply of Entrepreneurs
Build Entrepreneurial NetworksReward Entrepreneurial Behavior
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1) Increase the Supply of 1) Increase the Supply of EntrepreneursEntrepreneurs
Entrepreneurship Education from K-16Adult Training--Focus on Technical
SchoolsOpenness to Newcomers—Immigrant
EntrepreneursUniversities as Talent Magnets
– Hit Underserved Markets (e.g. Engineers, not MBAs)
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Building the Pipeline: Some Building the Pipeline: Some ModelsModels
Utah—Training for Guidance Counselors Louisiana Tech (and others):
Entrepreneurship programs in Engineering Schools
REAL Enterprises (www.realenterprises.org)
National Foundation for Teaching Entrepreneurship (www.nfte.com)
Nebraska EDGE: State Funds for Customized Training (www.nebraskaedge.unl.edu)
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2) Build Entrepreneurial 2) Build Entrepreneurial NetworksNetworks
Networks as the Hub of the Eco-SystemPeer Learning as Central RoleActivities: Training, Mentoring,
Investment Screening and Matching, Networking
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Building Networks: Some Building Networks: Some ModelsModels
Maryland TEDCO (www.marylandtedco.org)Kansas Enterprise FacilitationEastern Maine Development
Corporation (Incubator w/o Walls)Nevada/California: V3 Accelerator
Program (www.goldencapital.net/V3/)
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3) Reward Entrepreneurial 3) Reward Entrepreneurial BehaviorBehavior
Entrepreneurs as New Civic Leaders– Issues around Old Economy Culture
Tell Stories– Importance of “Local Stars” and “Anchor
Firms”Create Awards Programs
– Entrepreneur of the Year
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Honoring Entrepreneurs: Honoring Entrepreneurs: Some IdeasSome Ideas
Ernst & Young Entrepreneur of the YearAppalachian Regional Commission
Springboard Awards (www.arc.gov)
Springboard: Women Entrepreneurs (www.springboardenterprises.org)
Kentucky Science and Technology Corporation: IdeaFestival; Newspaper Profiles (www.kstc.com)
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A Gold-Plated Model: The UK A Gold-Plated Model: The UK ExperienceExperience
Use of Competitions– Enterprise Week (November 14-20, 2005)
Aggressive Outreach to YouthEffective Use of Popular Media
– “Because You Can” (Wales)– “Go For It!” (Northern Ireland)– “Think, Plan, Do” (Scotland)
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Useful WebsitesUseful Websites Enterprise Insight: www.enterpriseinsight.co.uk Enterprise Nation: www.enterprisenation.com Invest Northern Ireland: www.investni.com Scottish Enterprise: www.scottish-enterprise.com Small Business Service (United Kingdom)
www.sbs.co.uk Start Talking Ideas: www.starttalkingideas.org Welsh Development Agency: www.wda.co.uk
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A Stripped-Down Model?A Stripped-Down Model?
K-12 Entrepreneurship Education Initiative– West Virginia, Nebraska
Governor’s Award for Entrepreneurial Excellence (e.g. VA, NC, WI)
Statewide Networks for Service Providers and Entrepreneurs– North Carolina
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Other IdeasOther Ideas Community College Entrepreneurship
– Springfield Technical Community College– Natl. Assn. Of Community College Entrep.
www.nacce.com
Enhanced Mentoring Programs– Helzberg Entrepreneurial Mentoring Program
(www.helzbergmentoring.org)
State Business Plan Competition – Iowa Pappajohn Centers (www.isupjcenter.org)
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Challenges AheadChallenges Ahead
Timeline– Political Cycles vs. Business Cycles
Getting Started– What happens in regions without entrepreneurial
building blocks?
Moving to High-Growth– How can local firms evolve into major industry
players?
Metrics
For More Information:For More Information:Erik R. Pages
EntreWorks Consulting
3407 North Edison Street
Arlington, VA 22207
703-237-2506www.entreworks.net
