Entrepreneurship Ecosystem Support
In recent episodes of The Finjan Show I was able reconnect with entrepreneurs I’ve known for years.
One thing each one of these entrepreneurs shared is the importance of organizations that support entrepreneurship, and the things they do.
Babson College has done a great job with the Entrepreneurship Ecosystem model, consisting of six pillars. We’ve also seen models from Kauffman and other organizations/groups.
Some can be lumped into one category, such as Talent or Workforce Development. What this comes down to is TEAM. Assembling your team for the startup, assembling mentors, advisors, coaches, the founder’s connections. These are broad categories, with the potential for many sub-categories. Almost every entrepreneur I’ve interviewed has brought this to my attention.
Several mentioned the accessibility of funding, but also the understanding of funding. What does it mean to get funds? How do you use the funds? Many also mention education — and here I mean formal education at a college, but also informal education through webinars or podcasts, and books.
It would take three years to discuss all the categories!
The entrepreneurs we’ve talked to come from around the planet — places like the U.S. and Russia, Saudi Arabia, Chile, Egypt, South Africa, and many small countries like Myanmar. What we have learned is that they have all come up with their own method of connecting to what they need for the success of their entrepreneurial journey.
BEFORE YOU GO
We see our blogs as opportunities for dialogue. Please share your thoughts as comments.
- What can you do to support entrepreneurs in your community?
- What tools do you use to support them?
- How do you differentiate the support needed for each group in your community?
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.
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