Week of January 17 - January 21, 2005

Welcome to the National Dialogue on Entrepreneurship, an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving the innovation economy. Subscribe now to receive your weekly copy. Archived issues are available online. Links to the day's entrepreneurship stories from across the nation and around the world are posted each weekday on the NDE main page - bookmark it and stay informed about the latest entrepreneurship news. 

Entrepreneurship and Economic Growth

As we noted in our first 2005 edition of NDE-news, entrepreneurship is becoming a hot topic in economic development circles. This edition takes a look at some of the trends we can expect to see in 2005 and beyond. 

State-Led Innovation

Dozens of states are now in the process of designing comprehensive entrepreneurial development strategies. Interesting recent examples can be found in Iowa and Wisconsin where private and public sector leaders are moving forward. In Iowa, the Iowa Entrepreneur Network, a joint initiative of the Iowa Business Council and the Iowa Chamber Alliance, has recently been unveiled. The network has designed an excellent website (www.iowaentrepreneur.com) with the purpose of linking entrepreneurs to critical resources. These new resources supplement the excellent work of Iowa’s Pappajohn Centers (www.isupjcenter.org/), entrepreneur support centers located at Iowa State University and four other college campuses. Iowa entrepreneur John Pappajohn has recently announced that he will provide an additional $4 million investment to support the work of these centers. 

In Wisconsin, Governor Jim Doyle has released plans for the Wisconsin Entrepreneurs Network, a public-private partnership that will locate support offices at technology-transfer offices across the state (commerce.wi.gov/Act255/). Associated with this project is the new Wisconsin Angel Network (www.wisgov.state.wi.us/journal_media_detail.asp?prid=887) to help develop organized angel investor networks around the state. 

While Wisconsin and Iowa have developed new initiatives, similar projects are underway in many states. This is a truly promising sign. Even more promising is the important leadership role undertaken by entrepreneurs and other business leaders. As more states jump on the bandwagon, the pace of innovation will accelerate. 

Colleges and Universities Get in the Act

America’s colleges and universities have long taught entrepreneurship, but mainly in the business school. Today, they are seeking to infuse entrepreneurship into all parts of the college. This means entrepreneurship training for non-business majors, and it also means support for local entrepreneurship initiatives like those we saw above in Wisconsin and Iowa. This movement is also engaging community colleges as groups like the National Association of Community College Entrepreneurship (www.nacce.com) are working to encourage more two-year schools to offer entrepreneurship programs. 

Reforms to technology transfer programs are a related project for major universities. While tech transfer programs have been operating for many decades, most schools could still do a better job of turning intellectual property into successful products. A host of recent reports, including Council on Competitiveness’ National Innovation Initiative (www.compete.org/docs/pdf/NII_Frontiers_WG_Final%20Report.pdf), recognize that cultural change is the key to successful technology commercialization. Universities must begin creating “innovation cultures” that link world-class research with training in creative thinking and ways to translate ideas into commercial applications. 

Rural Interest Grows 

Rural communities remain intensely interested in promoting local entrepreneurship. As previous economic anchors of agriculture and manufacturing weaken, many small towns have no choice but to nurture local entrepreneurs and attract others who want to start a business while enjoying a great quality of life. The big news in early 2005 will come when the W.K. Kellogg Foundation announces grantees for its Rural Entrepreneurship Partnerships Project. This project will provide up to $2 million each to four rural regions that are promoting innovative entrepreneurship programs. More than 180 regions applied for the funds, and six finalists have been selected. To learn more about the project and the six finalists, visit www.wkkf.org/Programming/NewsItem.aspx?CID=274&ID=498

Data Needs

Policymakers and followers of the entrepreneurial economy have for a long time lamented the paucity of data about entrepreneurship. The Small Business Administration (SBA) should be congratulated for its recent efforts. The SBA’s Office of Advocacy has significantly improved its reporting on the entrepreneurial economy (www.sba.gov/advo/research/). The data is more timely, more comprehensive, and more user-friendly. NDE hopes that this is a sign that there might be greater things to come.

International Interest Continues Growing

America’s state governments aren’t alone in their embrace of entrepreneurship. As regular NDE-news readers know, international interest in enterprise development is quite strong. The Organization for Economic Cooperation and Development (OECD) continues to produce a host of interesting reports on this topic, including the recent Entrepreneurship: A Catalyst for Urban Regeneration (www.oecd.org/document/33/0,2340,en_2649_201185_33699681_1_1_1_1,00.html). This report examines how enterprise development activities can help revitalize distressed urban areas. 

Nearly every European country has some interesting entrepreneurship project underway. As one example, consider the work of Enterprise Northern Ireland (www.enterpriseni.com). Among its lead projects is the Exploring Enterprise Project, which provides free training to those who are at the point of considering a business start, but are not yet ready to do so. The training has proved highly effective, as 45% of trainees have graduated to more detailed business planning via the Start a Business program. TradeLinks, the latest Enterprise North Ireland effort, seeks to support microenterprises who operate near the border between Ireland and Northern Ireland. This effort should not only stimulate enterprise but also improve overall cross-border cooperation. 

Another interesting project links aspiring entrepreneurs in the Middle East to training opportunities here in the US. The Middle East Entrepreneur Training in the US (MEET-US) program, funded by the US Department of State and managed by the San Diego-based Beyster Institute (www.beysterinstitute.org), provides specialized training to the owners and managers of growth companies across the Middle East. The first group of business leaders came to San Diego in November to receive initial training, and early feedback has been quite positive. To learn more about this effort, check out the January 2005 issue of Leading Companies Online, the Beyster Institute’s on-line journal (available at www.beysterinstitute.org/other_resources/leading_companies.cfm). 

Entrepreneurship Lunch Briefings Continue on Capitol Hill

The National Dialogue on Entrepreneurship continues its lunch briefings on Capitol Hill next week with a look at the relationship between risk-taking, innovation, serial entrepreneurs and regional economic growth. The forum will offer helpful suggestions for policymakers looking to provide leadership in helping communities leverage their unique assets toward creating innovation. 

Confirmed speakers include: Rob Bogart, Senior Policy Advisor to the Assistant Secretary for Economic Development at the U.S. Department Commerce; Chad Moutray, Chief Economist/Director, Office of Economic Research, U.S. Small Business Administration, Office of Advocacy; Chad Evans, Vice President of the National Innovation Initiative, Council on Competitiveness; Randall Kempner, Vice President for Regional Innovation, Council on Competitiveness; and, Erik Pages, President, EntreWorks Consulting. 

The forum is scheduled for Wednesday, January 26 at 12:00 noon at the Rayburn House Office Building, Room B339. To register, visit: www.publicforuminstitute.org/nde/2005/january

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