Entrepreneurship Ecosystem Development
Since COVID, a new ecosystem has arrived, something out of the norm for the past.
Sadly, and globally, some of the largest ecosystems have experienced corruption, or taken a path that could land them in a downward spiral. I am confident in saying this because I have worked with/in over 100 ecosystems across the planet in the past ten years, discussing with community leaders on what is working and what is not.
Emerging ecosystems are now leading many of the longstanding systems in the world. It might not show up on reports yet, because it takes 5–10 years for the reports to reflect the reality on the ground. By the time you get to it and are known for it, it was already too late because others may have emerged.
In a recent entrepreneurship capacity building program — which I’ve been running for over 10 years — I took groups of entrepreneurs to several cities.
In one city, the mayor and everyone in the community were excited to meet with us.
In another well-established city, we met with resistance, and were asked for money up front to meet with them. I’ve been asked for money before, but usually in an honorary fee or some in-kind donation to show we appreciate the time and effort of the organization. Sometimes, the organization sponsored the food — or the trip — as they wanted to be exposed to international groups of people.
One institution insisted on a personal payment rather than a corporate sponsorship.
That tells me there is a shift in the marketplace. While some are paying them, there will be a new rise for those communities that are choosing to build communities, choosing to build around the people that they are attracting rather than trying to find ways to take advantage of them.
These new ecosystem communities all over the world — some in cities you would never expect — are moving fast and the entrepreneurial world in terms of Angels, VCs, and community builders is paying attention.
BEFORE YOU GO
We see our blogs as opportunities for dialogue. Please share your thoughts as comments.
- What are you doing to cultivate the ecosystem around you?
- What are you doing to understand where you fit in the global setting with entrepreneurship ecosystems rising today?
- What other tools do you use to keep your ecosystem engaged in good or bad times?
Faris Alami is Founder and CEO of International Strategic Management, Inc. (ISM). He works internationally, presenting Exploring Entrepreneurship Workshops and other entrepreneurial ecosystem — related ventures.