Building Entrepreneurial Cultures: The State Role Erik R. Pages EntreWorks Consulting NGA Policy Advisors Institute Nashville, TN/September 19, 2005

09/19/2005Copyright EntreWorks Consulting Today’s Talk What is Entrepreneurial Culture? Can We Influence It? If so, how? The Gold Plated Model: Overseas Approaches The Scaled-Down Model: Suggestions for Governors

09/19/2005Copyright EntreWorks Consulting What is Entrepreneurial Culture? Tolerance for Risk Acceptance of Failure Ability to Identify Opportunities Commitment to Innovation Commitment to Collaboration – Networks of Entrepreneurs and Service Providers

09/19/2005Copyright EntreWorks Consulting Tracking Entrepreneurial Culture: 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?

09/19/2005Copyright EntreWorks Consulting What Builds an Entrepreneurial Culture? History Societal Attitudes Education Practices Business Practices Role Models

09/19/2005Copyright EntreWorks Consulting Three Tools for Influencing Business Culture Increase the Supply of Entrepreneurs Build Entrepreneurial Networks Reward Entrepreneurial Behavior

09/19/2005Copyright EntreWorks Consulting ) Increase the Supply of Entrepreneurs Entrepreneurship Education from K-16 Adult Training--Focus on Technical Schools Openness to Newcomers—Immigrant Entrepreneurs Universities as Talent Magnets – Hit Underserved Markets (e.g. Engineers, not MBAs)

09/19/2005Copyright EntreWorks Consulting Building the Pipeline: Some Models Utah—Training for Guidance Counselors Louisiana Tech (and others): Entrepreneurship programs in Engineering Schools REAL Enterprises ( National Foundation for Teaching Entrepreneurship ( ) Nebraska EDGE: State Funds for Customized Training (

09/19/2005Copyright EntreWorks Consulting ) Build Entrepreneurial Networks Networks as the Hub of the Eco-System Peer Learning as Central Role Activities: Training, Mentoring, Investment Screening and Matching, Networking

09/19/2005Copyright EntreWorks Consulting Building Networks: Some Models Maryland TEDCO ( ) Kansas Enterprise Facilitation Eastern Maine Development Corporation (Incubator w/o Walls) Nevada/California: V3 Accelerator Program (

09/19/2005Copyright EntreWorks Consulting ) Reward Entrepreneurial Behavior 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

09/19/2005Copyright EntreWorks Consulting Honoring Entrepreneurs: Some Ideas Ernst & Young Entrepreneur of the Year Appalachian Regional Commission Springboard Awards ( Springboard: Women Entrepreneurs ( Kentucky Science and Technology Corporation: IdeaFestival; Newspaper Profiles (

09/19/2005Copyright EntreWorks Consulting A Gold-Plated Model: The UK Experience Use of Competitions – Enterprise Week (November 14-20, 2005) Aggressive Outreach to Youth Effective Use of Popular Media – “Because You Can” (Wales) – “Go For It!” (Northern Ireland) – “Think, Plan, Do” (Scotland)

09/19/2005Copyright EntreWorks Consulting Useful Websites Enterprise Insight: Enterprise Nation: Invest Northern Ireland: Scottish Enterprise: Small Business Service (United Kingdom) Start Talking Ideas: Welsh Development Agency:

09/19/2005Copyright EntreWorks Consulting 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

09/19/2005Copyright EntreWorks Consulting Other Ideas Community College Entrepreneurship – Springfield Technical Community College – Natl. Assn. Of Community College Entrep. Enhanced Mentoring Programs – Helzberg Entrepreneurial Mentoring Program ( State Business Plan Competition – Iowa Pappajohn Centers (

09/19/2005Copyright EntreWorks Consulting Challenges 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: Erik R. Pages EntreWorks Consulting 3407 North Edison Street Arlington, VA