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Supporting entrepreneurs and early-stage businesses is key to economic mobility, opportunity and growth. But it's one thing for city leaders to "talk the talk" and quite another to implement a strategy that will spark and sustain entrepreneurship.
While it might be tempting to jump right in, it’s important to take the time to evaluate successful outcomes and develop a strategy to achieve your goals. Having worked in over 100 communities for over 18 years, SourceLink understands that with ecosystem-building there will never be a check box to mark “done”.
Creating strong inclusive ecosystems of support for entrepreneurs is key to a community’s economic success, however sharing collective impact can be challenging.
and abroad with entrepreneurship at the forefront, it’s more important than ever to rethink and reboot as one global ecosystem to support a more sustainable and equitable world. Hear Network Building Strategies from Communities Around the U.S. As the economy continues to recover in the U.S. Register here: [link].
Data from McKinsey & Company on global consumer sentiment shows that consumer and business adoption of new strategies advanced five years in just eight weeks. New ways of doing things had to be created and implemented, and we found in those early months the value in having an entrepreneurial mindset in everything we do, not just business.
More Than an EventA Movement The Good Soil Movement is one of the fastest-growing entrepreneurialecosystems in the country. The Good Soil Forum tackles this issue head-on, providing financial tools, mentorship, and a network of supporters committed to helping businesses flourishespecially in undercapitalized communities.
One of my favorite thought leaders, Don Macke with the e2 Entrepreneurial Communities , often talks about the fact that entrepreneurial talent is universal, but thriving entrepreneurialecosystems are not. In the e2 EntrepreneurialEcosystems thought paper Why Entrepreneurship? Population, though 97% of U.S.
This report serves to further illustrate that thesis by breaking down what we look for in what we call “tentpole companies”: local startups that are the standout successes of a community’s entrepreneurialecosystem. Our report concludes with updates from 21 portfolio companies, from San Diego to Buffalo, and many places in between.
Goal 6: Universal Support: Expand external stakeholder understanding of and support for ecosystem building. There is a better way, and many of us know it—entrepreneurialecosystem building. But ecosystem building still hasn’t gone mainstream—it’s a mostly unknown approach to economic development.
In the process of finding, funding, and supporting startups that will transform their markets, investors can get caught up in KPIs, ROI, and other three-letter success indicators. How often do we consider those factors in the context of portfolio support? Founders are not machines. I’d argue not enough.
How Capsule is supporting young women to build thriving businesses Despite Romania’s growing startup ecosystem, women founders remain disproportionately low. Its a striking reminder that beyond financial resources and business plans, confidence and support networks are essential for female entrepreneurs to thrive.
Join a collaborative effort to design, create, and validate the advancement of the entrepreneurship ecosystem building field of practice. A small, but growing number of people are turning to entrepreneurialecosystem building as a strategy to build more inclusive and resilient economies.
Practical Metrics and Methods (Academic Edition): Identify and develop better metrics and methods for ecosystem building. In a nutshell : There are many metrics and methods in use in entrepreneurialecosystem building, but they are not all widely adopted. In fact, many approaches are still emerging.
We found one of those exemplary steps in southern Virginia where the Dan River Region Entrepreneur Ecosystem recognized the need for an ecosystem coordinator and rallied their stakeholders to hire the first entrepreneurialecosystem builder for the region. The need for an ecosystem builder.
We need to shi f t our economic development strategies to startup community building, (also referred to as entrepreneurialecosystem building), as the primary approach to rebuilding our cities’ economies. The research and evidence supporting the impact and value of startup community building is strong.
Now more than ever, entrepreneurs and small business owners require support from economic developers driving local economies forward. Developed with support from the Ewing Marion Kauffman Foundation and the U.S. We anticipate that we will be growing more courses to support this new certification that we’ve created,” Finkle said.
On Thursday, April 21, SourceLink hosted Building Rural Communities Through Entrepreneurship , a webinar on strategies for growing rural communities through entrepreneurship-led economic development. Don Macke – Senior Vice President, e2 EntrepreneurialEcosystems. Rob Williams – Director, SourceLink. Nathan Ohle. Rob Williams.
The essence of an entrepreneurialecosystem is its people and the culture of trust and collaboration that allows them to interact successfully. An ecosystem that allows for the fast flow of talent, information, and resources helps entrepreneurs quickly find what they need at each stage of growth.
I am a professor in entrepreneurship and educate students to this reflection and contribute to the development of an entrepreneurial culture and mindset. I do research on entrepreneurialecosystems to further understand their composition and provide findings that may help build resilient and sustainable ecosystems.
These insights from top entrepreneurs benefit EO members plus the entire entrepreneurialecosystem. Eden shares how entrepreneurs can use AI apps such as ChatGPT to support decision-making while still exercising innate expertise and judgment. Insights Learned From Raising $1.5
Since I have the topic of entrepreneurialecosystems at top of mind, I immediately went there after reading this quote. This leads to confusion about what matters most and results in misguided strategies that ultimately fail. Using data to dictate which strategies get implemented, the proverbial tail is wagging the dog.
In the heart of the NC Triangle (Raleigh, Durham, Chapel Hill), where ideas take flight, a dynamic entrepreneurialecosystem thrives. Neil Bagchi, founder of Bagchi Law, PLLC, is a leader in this entrepreneurialecosystem. But Bagchi Law goes beyond traditional legal counsel.
Dozens of ecosystem builders share their perspective on what an entrepreneurialecosystem builder is, and does. One of the challenges in turning ecosystem building into a recognized profession is the lack of a recognized definition for what it is and what an ecosystem builder is. This shouldn’t come as a surprise.
Practical Metrics and Methods (Practitioner Edition): Identify and develop better metrics and methods for ecosystem building. In a nutshell : There are many metrics and methods in use in entrepreneurialecosystem building, but they are not all widely adopted. Metrics can reflect the strengths and challenges of an ecosystem.
(April 24, 2024) – The New Jersey Economic Development Authority (NJEDA) has closed its first four approvals under the Angel Match Program , awarding a total of $2 million to support early-stage technology companies. This early commitment from the NJEDA catalyzes additional financing in these innovative startups.
Guests include other veteran entrepreneurs, mentors, and experts like attorneys and marketing specialists, including the leader of Verizon’s veteran employee resource group who shared information about Verizon support for small business owners along with his own personal experience as an entrepreneur. How do we bridge this gap?
We need educational and awareness campaigns that communicate the importance of entrepreneurship and entrepreneurialecosystem building as a means to building stronger, more resilient, and equitable economies. What would it be like if we had a thousand entrepreneurs running around Memphis, Tennessee funded, excited and supported?
At Forward Cities we are working with a growing number of communities to foster cross-sector teams committed to strengthening their equitable entrepreneurialecosystems.
Anchor Institutions’ Contributions to Building Inclusive Small Business Ecosystems was jointly developed by Local Initiatives Support Corporation (LISC) and Forward Cities with support from the Annie E. Casey Foundation. DOWNLOAD THE FULL REPORT. What is an Anchor?
There’s a new community network emerging to help entrepreneurialecosystem builders connect, learn, and grow— Startup Communities: The community for entrepreneurialecosystem builders. Startup Communities: The community for entrepreneurialecosystem builders to connect, learn, and grow. Ecosystem Maps.
As entrepreneurialecosystem builders, we’re united in our belief in the impact of entrepreneurship and entrepreneurialecosystem building as a strategy to build, and now rebuild, economies. It’s a common core value that distinguishes ecosystem builders. The evidence is unambiguous.
The Startup Community Way: Evolving an EntrepreneurialEcosystem is essential reading for entrepreneurs, community leaders, policymakers, and other key stakeholders looking to entrepreneurship as an engine of innovation and economic growth. Think in systems. Recognize there is more than one type of capital.
While the University of Michigan has been formally educating students on entrepreneurship for decades, the region’s entrepreneurialecosystem has notably ramped up in the last ten years and has effectively used its powerful alumni network to amplify its growth.
By: Sarah Dickey, ACA Membership Director Groundbreaking economist, author, investor, and entrepreneur is honored with the Angel Capital Association’s Hans Severiens Award While performing the research that culminated in her book, The Next Wave: Financing and Investing Strategies for Growth-Oriented Women Entrepreneurs , Alicia Robb, Ph.D.,
It is a description for a new entrepreneurialsupport pilot program launching in Franklin County, OH in January of 2020. One of the unique things about the work of Forward Cities is the placed-based focus of the entrepreneurialecosystem-building work. No, this isn’t a description of a new reality TV show!
These insights from top entrepreneurs benefit EO members plus the entire entrepreneurialecosystem. Eden shares how entrepreneurs can use AI apps such as ChatGPT to support decision-making while still exercising innate expertise and judgment. Insights Learned From Raising $1.5
This post is part of a series featuring highlights from the Unsung Heroes of Ecosystem Building campaign which shone a spotlight on 40+ entrepreneurialecosystem builders from around the U.S. I wish the small business ecosystem had something equivalent to the angel investor networks that support technology startups.
At Impact Hub, we have been working relentlessly towards this goal for the past 15 years, supporting impact entrepreneurs who put people and the planet at the forefront. We strive to give them tools to succeed with our support programs and a strong network of 16,500 people throughout 59 countries. Ilmuwan Muda Indonesia .
While creating a diverse ecosystem that supports diverse entrepreneurs is emerging as an important economic development strategy, many communities struggle with how to create an environment that truly fosters inclusivity.
By opening an Impact Hub, we knew that we had the ability to revolutionize Dhaka’s entrepreneurialecosystem and enable entrepreneurs and organizations to be more impact-driven and sustainable. The pandemic also had a positive side; it forced us to rethink our strategy and priorities, and reinforce our purpose. Incredible.
This event, heralded as the industry’s flagship, convenes a diverse community of new and experienced angel investors, business leaders, and entrepreneurial minds to explore critical topics and trends in angel investing. She is an entrepreneur who supports entrepreneurs!
It is a description for a new entrepreneurialsupport pilot program launching in Franklin County, OH in January of 2020. One of the unique things about the work of Forward Cities is the placed-based focus of the entrepreneurialecosystem-building work. No, this isn’t a description of a new reality TV show!
As entrepreneurship increasingly becomes a cornerstone of this emerging inclusive growth journey, the need for early-stage investment capital increases, demanding support for initiatives towards the access of capital for the ecosystem to thrive. DDA’S 2022 “Investing in Africa ” report. .
The Dan River Region Ecosystem Development Project as a promising sign for the sustainable future of Ecosystem Building… . As a project-based Ecosystem Builder, I have observed the exciting recent shift in conversation and strategy around building and scaling entrepreneurialecosystems. It was a great start.
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