http://trend.ag.utk.edu/crest.html

Asset Mapping for Entrepreneurship

Adapted from the “Stronger Economies Together” Curriculum

Dr. Bo Beaulieu and Dr. Michael Wilcox

http://trend.ag.utk.edu/crest.html

Discovering Entrepreneurial AssetsGoals for today:

• Recognize the variety of resources present in our local area that can support the region’s economic development strategies.

• Understand the core elements that contribute to entrepreneurial development and a vibrant region.

• Develop a more complete picture of capacities that exists across the seven types of capitals

http://trend.ag.utk.edu/crest.html

Key Principles of Asset Mapping• Assets are present in our region.

• The health of our region depends on our ability to effectively mobilize the resources and talents that exist internally within our regional borders.

• Linking these assets to one another is vital to the pursuit of regional goals and strategies.

Got to Believe

in These!

http://trend.ag.utk.edu/crest.html

Where to Find Your Region’s Entrepreneurial Assets

• Individuals: Discover the available skills of local residents (based on occupation, interest, abilities, etc.)

• Associations: Document current and potential entrepreneurial development-oriented activities of citizen-based voluntary associations

• Institutions: Determine relevant entrepreneurial development-oriented activities and resources of formal institutions in the area

http://trend.ag.utk.edu/crest.html

Begin With Individuals• Everyone in your region has talents and skills

that can benefit the region.• Strong communities and regions value and use

the skills that local residents possess.• Three major areas of interest:

–Occupation and skills – Entrepreneurial interests–Community participation activities

http://trend.ag.utk.edu/crest.html

Map Associations & Institutions

Today:• Identify voluntary organizations and local

institutions that exist in the region which focus or support entrepreneurship.

• Record the activities that could support the region’s economic development activities.

Future:• See what activities they might undertake to

support entrepreneurship and strengthen the region.

http://trend.ag.utk.edu/crest.html

Community Capitals Framework

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Community Capitals Framework

Source: Cornelia Butler Flora, Mary Emery, Susan Fey and Corry Bregendahl, “ Community Capitals: A Tool for Evaluating Strategic Interventions and Projects”, http://www.ncrcrd.iastate.edu/projects/commcap/7-capitalshandout.pdf

http://trend.ag.utk.edu/crest.html

Why Focus on These 7 Capitals?

The Floras (2008) discovered that• Places that are best able to support viable economic

development strategies give attention to all seven capitals.

Green and Haines (2008) found that:• Investments made in these resources help to advance

the quality of community life.

http://trend.ag.utk.edu/crest.html

Asset-based Planning in TennesseeSTEP ONE: Five-Year Asset Based Strategic PlanThe strategic plan must include the following:

– Address ALL development issues in the community. These are to include, but not limited to the following: education, work force development, business recruitment, business expansions, business retention, infrastructure, etc.

– Participation from, information about and responsibilities of the active economic development organizations in the community. These include the JECDB, industrial development organizations, tourism development organizations, etc.

– Timeline to annually review, adjust and update the strategic plan.

Download Three-Star Program Requirements: http://www.state.tn.us/ecd/pdfs/Three%20Star%20Program%20of%20Work.pdf

and 08-09 Program Addendum: http://www.state.tn.us/ecd/pdfs/2009%20Program%20of%20Work%20Addendum.pdf

http://trend.ag.utk.edu/crest.html

CREST and Three Star: Targeted Actions

http://trend.ag.utk.edu/crest.html

CREST and Three Star: Strategic Actions

http://trend.ag.utk.edu/crest.html

Targeted and Strategic Actions for

Entrepreneurship

Three Star and Entrepreneurship

2009-2008:% of 89 Certified

3-Star Communities

2008-2007:% of 92 Certified

3-Star Communities

% Change in Number of Counties:

2008-2007 to 2009-2008

a. Tools for Startup Businesses 59.3% 18.5% 191.9%

b. Resource Kiosk 39.3% 8.7% 352.2%

c. Buy Local Program and Website 29.2% 12.0% 144.3%

d. Volunteerism for Entrepreneurship 16.9% 2.2% 675.3%

e. Entrepreneurship Training 43.8% 13.0% 236.0%

f. Small Business Survey 15.7% 4.3% 261.8%

*Dedicated Funding Source for Entrepreneurship 7.9% 4.3% 80.9%

*Business Incubator 16.9% 9.8% 72.3%

http://trend.ag.utk.edu/crest.html

TVA Community Assessment Tool

http://trend.ag.utk.edu/crest.html

Group Activity

Linking Local Assets and Community Capitals

http://trend.ag.utk.edu/crest.html

The Information

On the “Post-it” note, place the following information• Name• Short description Entrepreneurial Support Activity• Location (town or city) Who?

(Individual/Agency/Institution)In what way do they

support Entrepreneurialism?

Where are they

located- physically?

http://trend.ag.utk.edu/crest.html

The Intersection

CommunityCapitals

Asset Mapping Categories

Individuals Associations Institutions

Cultural

Social

Human

Financial

Built

Natural

Political

FORMAL

VOLU

NTA

RY

http://trend.ag.utk.edu/crest.html

The Activity: 7 Capitals

• Who? (Individual/Agency/Institution)• How do they support Entrepreneurialism? • Where are they

located- physically?

http://trend.ag.utk.edu/crest.html

Proposed Program ScheduleDate CREST Activity

December 2009 Pilot Communities Selected

January-February 2010 Meet with Pilot Communities

2/24/2010 CREST Kick off webinar

3/31/2010 Module 1: Community Statistics

April-May 2010 M1: Community Meetings

5/26/2010 Module 2: Asset Mapping

June-July 2010 M2: Community Meetings

7/28/2010 Module 3: Strategic Planning

8/25/2010 Module 4: Creating Buy-in and Implementing Projects Locally

August-September 2010 M3/4: Community Meetings

September 14-15, 2010 Module 5: Best Practices for Entrepreneurial Communities - Gov Conf

October 2010 M5: Community Meetings-Project Identification

10/27/2010 Module 6: Survey and Evaluation Methods

November 2010-May 2011 Monthly Community Meetings/Project Implementation

June-August 2011 Project Review and Final Reporting

September 2011 Final Report Release at ECD Gov Conference

http://trend.ag.utk.edu/crest.html

July Webinar LogisticsDate: Wednesday, July 28, 2010

Time: 10am-12noon (Central)

Subject: “Strategic Planning for Entrepreneurial Development”

The next webinar will cover strategic planning for communities interested in fostering entrepreneurship development.

Speaker: Michelle Williams, Executive Director Mt Pleasant Community Development Corporation

Attend the meeting: use this linkhttp://asp8.centra.com/GA/main/00000087ad670000012678deeb9498fe

http://trend.ag.utk.edu/crest.html

The End

See you in July!