1. Global Entrepreneurship Monitor (GEM) Project Overview & Selected Findings Dr Paul Steffens, Deputy Director ACE Department of Industry & Science: Industry and Innovation Workshop

2. Google: ACE QUT

3. What I will cover today Overview of the Global Entrepreneurship Monitor (GEM) Project Selected 2014 GEM findings

4. Overview of the GEM project

5. www.gemconsortium.org

6. GEM is the world’s largest entrepreneurship study Annual “benchmarking study” of entrepreneurship around the globe –Adult population survey – at least 2000 in each country –Harmonized survey and sampling approach –Entrepreneurship participation, attitudes, profile of business / entrepreneurs –Over 100 countries since 1999 GEM by the numbers - 2014 –surveyed 197,000 individuals –across 70 countries –3,800 national experts –USD $9 million –75% of world population –89% of world GDP Australian participation –QUT is the current Australian partner with surveys in 2010, 2011, 2014, 2015 –Swinburne various years 2001 - 2006

7. Potential Entrepreneur: Opportunities, Knowledge, Skills & Attitudes Nascent Entrepreneur: Involved in Setting Up a Business Owner-Manager of a New Business (up to 3.5 years old) Owner-Manager of an Established Business (more than 3.5 years old) Total Early-Stage Entrepreneurial Activity (TEA) ConceptionFirm BirthPersistence Discontinuation of Business Early-stage Entrepreneurship Profile Socio-demographics Sex Age Socio-demographics Sex Age Impact Business growth Innovation Internationalization Impact Business growth Innovation Internationalization Industry Sector Industry Sector GEM measures grass-roots entrepreneurship Harmonized Survey of 2000 Adults in each country

8. Selected 2014 GEM Findings Our recent report is based on 2014 data Just finished 2015 data collection to be released Jan 2016

9. Grass roots entrepreneurship is alive and well in Australia

10. Trend in entrepreneurship rates through economic cycles GFC 

11. Trend in opportunity entrepreneurship rates GFC 

12. Trend in necessity entrepreneurship rates GFC 

13. Also measures Employee Entrepreneurial Activity

14. EEA vs TEA

15. Informal Investment

16. 2014 Special Topic YOUTH ENTREPRENEURSHIP

17. Youth entrepreneurship is the only age group we lag behind the US

18. Entrepreneurial Education at School Maters - ALOT

19. Our youth entrepreneurs are not as ambitious High aspiration is >20 employees in 5 years time

20. Unique features of GEM Captures early stage entrepreneurship and informal economy –Benchmarking against ~80 other economies –Trends Start-up characteristics –Necessity vs opportunity –Aspirations –Technology etc, Entrepreneur profile –Age –Gender Entrepreneurship waterfall (at population level) –Intentions  nascent  young business  established business  exits Employee entrepreneurial activity (EEA) Entrepreneurial Attitudes Informal investment Annual special topics –2014 Youth –2015 Social

21. Challenges of GEM Smallish sample size limits “statistical accuracy” –Larger Australian sample - $$ –Each state –Some analyses can be aggregated across years Not longitudinal panel study Response rates –Introduces biases –Mobile vs landline balancing

22. Thank you QUESTIONS?

23. Extra Slides

24. http://www.gemconsortium.org/ Economic development drives entrepreneurship's role in the economy Innovation-driven (advanced) economies Factor-driven (undeveloped) economies Efficiency-driven (developing) economies

25. Economic development drives entrepreneurship's role in the economy

26. Entrepreneurial participation varies by age around the world http://www.gemconsortium.org/

27. Perceived Opportunities for Start-up is an Issue for Seniors

28. Senior’s perceptions of society attitudes are mostly on par with others

29. Data from GEM would again suggest Australia stacks up pretty well – except on “new technology” start-ups

30. Youth again lower for ventures featuring “new products”

31. But we perform relatively poorly for “technology” entrepreneurs

32. Participation across the “entrepreneurship waterfall”