How Entrepreneurial Cultures Spur Entrepreneurial Action Connecting Universities to Economic Development UNC Charlotte ADVANCE Bridging the Gap Conference March 19, 2013 Ken Harrington

What is the Gap?

What is Your Motivation?

What is Your Region’s Current State?

What is Culture?

Two Perspectives Pick winners-Ventures & Inputs(Eco Devo) Energize people-Social Connections & Relationships (Culture)

Economic Development 1.Resource and Infrastructure Inputs Research as an input Infrastructure Capital 2.Economic Outcomes Ventures Investment Jobs

Culture Development 1.Culture Inputs Collaboration events Relationships Institutions, especially technology transfer 2.Culture Outputs Ideas Entrepreneurs Learning curve

Charlotte’s Approach?

Interest Areas? Energy & Environment Information Technology Social Entrepreneurship Financial Services Bioscience Healthcare Services Design and ArtFood

Culture Entrepreneurs are the source Without entrepreneurs not sustainable Getting better every week Never done, just better Collaboration

Entrepreneurial expectancy Perceived need for new outcome Entrepreneurial self-efficacy Entrepreneurial desirability. Have idea for start-up William A. Lucas—MIT Kenneth A. Harrington Modifications Entrepreneur Development Entrepreneurial intent

Community Ecosystem Survey 1.Economic and Social Factors 2.Important? Adequate? 3.Stakeholder groups 4.Open and transparent 5.Discuss priorities and goals

ControlledEuphoric ApatheticAspirational Ecosystem Statuses

Roles in the Ecosystem? 1.University role? 2.Champion role? 3.Entrepreneur role? 4.Economic development role? 5.Service provider role? 6.Government role? 7.Industry role?

What Stage of Maturity? Phase 0-Research, Invention Phase 1-Idea & Entrepreneur Development Phase 2-Team and Venture Launch Phase 3-Venture Affirmation Phase 4-Company Growth Phase 5-Exit and Restart

Collaboration Causes Culture 1.Economic Development 2.Culture Development 3.Interest Areas 4.Entrepreneurs first, not ventures 5.Patience