How Entrepreneurial Cultures Spur Entrepreneurial Action

Connecting Universities to Economic Development

UNC Charlotte ADVANCEBridging 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 Art Food

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—MITKenneth 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

Controlled Euphoric

Apathetic Aspirational

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