FEAST RI Entrepreneurial Ecosystem March 21, 2016

Entrepreneurial Ecosystems Welcome Guests: Richard Horan – Managing Director of Slater Technology Fund Kelly Ramirez – Executive Director, Social Enterprise Greenhouse Literature Review & Framework – Angus Kingon Discussion of Rhode Island’s Entrepreneurial Ecosystems THE C.V. STARR PROGRAM IN BUSINESS, ENTREPRENEURSHIP AND ORGANIZATIONS 2

HEADER THE C.V. STARR PROGRAM IN BUSINESS, ENTREPRENEURSHIP AND ORGANIZATIONS Sub head Bullet Sub head Bullet 3

RI ENT Ecosystem THE C.V. STARR PROGRAM IN BUSINESS, ENTREPRENEURSHIP AND ORGANIZATIONS (Definition of ENT is critical) Key Stakeholders? Social Enterprise Life Science/Tech Overall Health of the Ecosystem? Social Enterprise Life Science/Tech What do we need more of? Social Enterprise Life Science/Tech 4

RI ENT Ecosystem THE C.V. STARR PROGRAM IN BUSINESS, ENTREPRENEURSHIP AND ORGANIZATIONS (Isenberg Model) Policy (Government) State – STAC, Commerce RI, Innovation Officer (Culatta hired 2016) City – Office of Innovation (Pollack hired 2015) Innovation Tax credits for investors Innovation & Design District (I195 Land) RI early adopter of B-Corp Finance (Investors) Slater (VC), Cherrystone, Angell Street, Ocean State Angels SBIR/STTR (STAC help) RI Business Plan Competition RevUp (by Betaspring) – accelerator and funding Close to Boston and New York markets 5

RI ENT Ecosystem THE C.V. STARR PROGRAM IN BUSINESS, ENTREPRENEURSHIP AND ORGANIZATIONS (Isenberg Model) Culture Enough success stories? (some; cloud of 38 Studios) Positive status of entrepreneurs (Betaspring; Venture for America, SEG Incubator, DesignxRI, initiatives by universities) Are we part of, an extension of or separate from Boston ENT ecosystem Supports (non-gov’t) RI Foundation Innovation Awards, RI Business Plan Competition, Greater Providence Chamber Small but supportive legal, accounting and mentoring Orgs: SEG, Founders League, Hatch, Center for Women and Enterprise, Hope & Main, SBA/SBDC, university centers (Brown, JWU), MedMates, DesignxRI Cambridge Innovation Center – coming to PVD? 6

RI ENT Ecosystem THE C.V. STARR PROGRAM IN BUSINESS, ENTREPRENEURSHIP AND ORGANIZATIONS (Isenberg Model) Human Capital Some experienced entrepreneurs Many inexperienced/interested (students) Struggling to identify strategic strengths within the state: Health, Food, Design, Blue Economy, Tech (areas targeted by City) Alignment with universities RI CIO Richard Culatta – attract tech-sector Markets (good proving grounds) Synergy with existing large businesses ? Small, tight-knit network Good for Social Enterprise, Food, Health Good for others? 7