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Cultivating Entrepreneurial Cultures for Economic Development: Bridging Universities and Action

This presentation explores the critical role of entrepreneurial cultures in driving economic development, emphasizing the connection between universities and local economies. Delivered at the UNC Charlotte ADVANCE Bridging the Gap Conference, the talk highlights the motivations and current states of regions in relation to entrepreneurial action. Key themes include the importance of social connections, resource inputs, collaboration among stakeholders, and various phases of venture development. Strategies for enhancing entrepreneurial self-efficacy and fostering sustainable economic growth are discussed, with a focus on Charlotte's unique approach.

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Cultivating Entrepreneurial Cultures for Economic Development: Bridging Universities and Action

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  1. How Entrepreneurial Cultures Spur Entrepreneurial ActionConnecting Universities to Economic DevelopmentUNC Charlotte ADVANCEBridging the Gap ConferenceMarch 19, 2013Ken Harrington

  2. What is the Gap?

  3. What is Your Motivation?

  4. What is Your Region’s Current State?

  5. What is Culture?

  6. Two Perspectives • Pick winners-Ventures & Inputs(Eco Devo) • Energize people-Social Connections & Relationships (Culture)

  7. Economic Development • Resource and Infrastructure Inputs • Research as an input • Infrastructure • Capital • Economic Outcomes • Ventures • Investment • Jobs

  8. Culture Development • Culture Inputs • Collaboration events • Relationships • Institutions, especially technology transfer • Culture Outputs • Ideas • Entrepreneurs • Learning curve

  9. Charlotte’s Approach?

  10. Interest Areas? Information Technology Social Entrepreneurship Bioscience Energy & Environment Financial Services Healthcare Services Design and Art Food

  11. Culture • Entrepreneurs are the source • Without entrepreneurs not sustainable • Getting better every week • Never done, just better • Collaboration

  12. Entrepreneur Development . Entrepreneurial self-efficacy Perceived need for new outcome Have idea for start-up Entrepreneurial expectancy Entrepreneurial desirability Entrepreneurial intent William A. Lucas—MIT Kenneth A. Harrington Modifications

  13. Community Ecosystem Survey • Economic and Social Factors • Important? Adequate? • Stakeholder groups • Open and transparent • Discuss priorities and goals

  14. Ecosystem Statuses Controlled Euphoric Apathetic Aspirational

  15. Roles in the Ecosystem? • University role? • Champion role? • Entrepreneur role? • Economic development role? • Service provider role? • Government role? • Industry role?

  16. 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

  17. Collaboration Causes Culture • Economic Development • Culture Development • Interest Areas • Entrepreneurs first, not ventures • Patience

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