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The Entrepreneurial
Ecosystem

Part 1:
                      Dr. Michael R. Burcham
Defining an
                      e.   michael@michaelburcham.com
Entrepreneurial       w.   www.michaelburcham.com
                      t.   www.twitter.com/michaelrburcham
Community             f.   www.facebook.com/michael.r.burcham
                      l.   www.linkedin/in/michaelburcham
?
What is an Entrepreneurial
Ecosystem?
We are building our
Entrepreneurial Ecosystem:

TheIndividuals, Organizations and Institutions–
outside the individual entrepreneur - that are
conducive to the choice of a person to become an
entrepreneur, or the probabilities of his or her
success.
Think of the Entrepreneurial Ecosystem as providing
fertile soil and a climate in which to seed, nurture and
grow new businesses.

The enablers…

•   Venture Creators
•   Advisors & Mentors
•   Universities
•   Support Organizations
•   Labor Markets
•   Investors

Are more effective when they are networked to encourage
intellectual, financial and human capital to flow to enterprises at every
phase of the startup journey.
We are creating the
Front Door
of entrepreneurial opportunity.

Offering access to
expertise, supportand
capitalto launch new
businesses.
3   Simple Truths… What Do Startup
    Entrepreneurs Need?
3 Simple Truths


1. Entrepreneurs Really Need:

Access!

   –   To expertise via credible, capable, engaged mentors
   –   To an expanded knowledge network
   –   To seed capital
   –   To a supportive community / environment
3 Simple Truths


2. Efficient networks depend on consistent
   processes:

   – Coaching & Mentoring for 1st-time entrepreneurs
   – Evaluate idea-stage opportunities
   – Find high-growth potentials
   – Accelerators can add consistency and help with
     launch
   – Engagement of local and state officials to facilitate
     capital investments and a capital continuum
3 Simple Truths


3. Local commitment is essential:

Don’t just build an incubator and expect new jobs…
  – utilize the space you have
  – Leverage your strengths
  – invest in people, and
  – connect them to local and regional knowledge
     networks
So why Is this effort

Important?


                         10
The Market Reality



• The innovation economy is literally sweeping away all the old
  rules of building communities. Entire industries are already being
  transformed (publishing, music, news) and others are in a significant
  state of change (retail, healthcare, manufacturing).

• The global marketplace is more mobile than ever.Investors and
  entrepreneurs want to see a community and its leadership moving to
  the future before allocating their time and capital. A community
  hoping to have a thriving Entrepreneurial Ecosystem and a
  sustainable economy needs to be a place that demonstrates a
  commitment to their entrepreneurial community.

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Entrepreneurial ecosystem p1 intro

  • 1. The Entrepreneurial Ecosystem Part 1: Dr. Michael R. Burcham Defining an e. michael@michaelburcham.com Entrepreneurial w. www.michaelburcham.com t. www.twitter.com/michaelrburcham Community f. www.facebook.com/michael.r.burcham l. www.linkedin/in/michaelburcham
  • 2. ? What is an Entrepreneurial Ecosystem?
  • 3. We are building our Entrepreneurial Ecosystem: TheIndividuals, Organizations and Institutions– outside the individual entrepreneur - that are conducive to the choice of a person to become an entrepreneur, or the probabilities of his or her success.
  • 4. Think of the Entrepreneurial Ecosystem as providing fertile soil and a climate in which to seed, nurture and grow new businesses. The enablers… • Venture Creators • Advisors & Mentors • Universities • Support Organizations • Labor Markets • Investors Are more effective when they are networked to encourage intellectual, financial and human capital to flow to enterprises at every phase of the startup journey.
  • 5. We are creating the Front Door of entrepreneurial opportunity. Offering access to expertise, supportand capitalto launch new businesses.
  • 6. 3 Simple Truths… What Do Startup Entrepreneurs Need?
  • 7. 3 Simple Truths 1. Entrepreneurs Really Need: Access! – To expertise via credible, capable, engaged mentors – To an expanded knowledge network – To seed capital – To a supportive community / environment
  • 8. 3 Simple Truths 2. Efficient networks depend on consistent processes: – Coaching & Mentoring for 1st-time entrepreneurs – Evaluate idea-stage opportunities – Find high-growth potentials – Accelerators can add consistency and help with launch – Engagement of local and state officials to facilitate capital investments and a capital continuum
  • 9. 3 Simple Truths 3. Local commitment is essential: Don’t just build an incubator and expect new jobs… – utilize the space you have – Leverage your strengths – invest in people, and – connect them to local and regional knowledge networks
  • 10. So why Is this effort Important? 10
  • 11. The Market Reality • The innovation economy is literally sweeping away all the old rules of building communities. Entire industries are already being transformed (publishing, music, news) and others are in a significant state of change (retail, healthcare, manufacturing). • The global marketplace is more mobile than ever.Investors and entrepreneurs want to see a community and its leadership moving to the future before allocating their time and capital. A community hoping to have a thriving Entrepreneurial Ecosystem and a sustainable economy needs to be a place that demonstrates a commitment to their entrepreneurial community.

Notas do Editor

  1. Talk about the resources that entrepreneurs struggle to find and help that all entrepreneurs could use.