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

2. 09/19/2005Copyright EntreWorks Consulting 2005 2 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

3. 09/19/2005Copyright EntreWorks Consulting 2005 3 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

4. 09/19/2005Copyright EntreWorks Consulting 2005 4 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?

5. 09/19/2005Copyright EntreWorks Consulting 2005 5 What Builds an Entrepreneurial Culture? History Societal Attitudes Education Practices Business Practices Role Models

6. 09/19/2005Copyright EntreWorks Consulting 2005 6 Three Tools for Influencing Business Culture Increase the Supply of Entrepreneurs Build Entrepreneurial Networks Reward Entrepreneurial Behavior

7. 09/19/2005Copyright EntreWorks Consulting 2005 7 1) 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)

8. 09/19/2005Copyright EntreWorks Consulting 2005 8 Building the Pipeline: Some Models Utah—Training for Guidance Counselors Louisiana Tech (and others): Entrepreneurship programs in Engineering Schools REAL Enterprises (www.realenterprises.org)www.realenterprises.org National Foundation for Teaching Entrepreneurship ( www.nfte.com ) www.nfte.com Nebraska EDGE: State Funds for Customized Training (www.nebraskaedge.unl.edu)www.nebraskaedge.unl.edu

9. 09/19/2005Copyright EntreWorks Consulting 2005 9 2) Build Entrepreneurial Networks Networks as the Hub of the Eco-System Peer Learning as Central Role Activities: Training, Mentoring, Investment Screening and Matching, Networking

10. 09/19/2005Copyright EntreWorks Consulting 2005 10 Building Networks: Some Models Maryland TEDCO ( www.marylandtedco.org ) www.marylandtedco.org Kansas Enterprise Facilitation Eastern Maine Development Corporation (Incubator w/o Walls) Nevada/California: V3 Accelerator Program (www.goldencapital.net/V3/)www.goldencapital.net/V3/

11. 09/19/2005Copyright EntreWorks Consulting 2005 11 3) 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

12. 09/19/2005Copyright EntreWorks Consulting 2005 12 Honoring Entrepreneurs: Some Ideas Ernst & Young Entrepreneur of the Year Appalachian Regional Commission Springboard Awards (www.arc.gov)www.arc.gov Springboard: Women Entrepreneurs (www.springboardenterprises.org)www.springboardenterprises.org Kentucky Science and Technology Corporation: IdeaFestival; Newspaper Profiles (www.kstc.com)www.kstc.com

13. 09/19/2005Copyright EntreWorks Consulting 2005 13 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)

14. 09/19/2005Copyright EntreWorks Consulting 2005 14 Useful Websites Enterprise Insight: www.enterpriseinsight.co.ukwww.enterpriseinsight.co.uk Enterprise Nation: www.enterprisenation.comwww.enterprisenation.com Invest Northern Ireland: www.investni.comwww.investni.com Scottish Enterprise: www.scottish-enterprise.comwww.scottish-enterprise.com Small Business Service (United Kingdom) www.sbs.co.uk www.sbs.co.uk Start Talking Ideas: www.starttalkingideas.orgwww.starttalkingideas.org Welsh Development Agency: www.wda.co.ukwww.wda.co.uk

15. 09/19/2005Copyright EntreWorks Consulting 2005 15 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

16. 09/19/2005Copyright EntreWorks Consulting 2005 16 Other Ideas Community College Entrepreneurship – Springfield Technical Community College – Natl. Assn. Of Community College Entrep. www.nacce.com Enhanced Mentoring Programs – Helzberg Entrepreneurial Mentoring Program (www.helzbergmentoring.org)www.helzbergmentoring.org State Business Plan Competition – Iowa Pappajohn Centers (www.isupjcenter.org)

17. 09/19/2005Copyright EntreWorks Consulting 2005 17 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

18. For More Information: Erik R. Pages EntreWorks Consulting 3407 North Edison Street Arlington, VA 22207 703-237-2506 www.entreworks.net epages@entreworks.net