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Asset Mapping for Entrepreneurship

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  1. Asset Mapping for Entrepreneurship Adapted from the “Stronger Economies Together” Curriculum Dr. Bo Beaulieu and Dr. Michael Wilcox

  2. Discovering Entrepreneurial Assets Goals for today: Recognize the variety of resources present in our local area that can support the region’s economic development strategies. Understand the core elements that contribute to entrepreneurial development and a vibrant region. Develop a more complete picture of capacities that exists across the seven types of capitals

  3. Key Principles of Asset Mapping Got to Believe in These! Assets are present in our region. The health of our region depends on our ability to effectively mobilize the resources and talents that exist internally within our regional borders. Linking these assets to one another is vital to the pursuit of regional goals and strategies.

  4. Where to Find Your Region’s Entrepreneurial Assets • Individuals: Discover the available skills of local residents (based on occupation, interest, abilities, etc.) • Associations: Document current and potential entrepreneurial development-oriented activities of citizen-based voluntary associations • Institutions: Determine relevant entrepreneurial development-oriented activities and resources of formal institutions in the area

  5. Begin With Individuals • Everyone in your region has talents and skills that can benefit the region. • Strong communities and regions value and use the skills that local residents possess. • Three major areas of interest: • Occupation and skills • Entrepreneurial interests • Community participation activities

  6. Map Associations & Institutions Today: • Identifyvoluntary organizations and local institutions that exist in the region which focus or support entrepreneurship. • Record the activities that could support the region’s economic development activities. Future: • See what activities they might undertake to support entrepreneurship and strengthen the region.

  7. Community Capitals Framework

  8. Community Capitals Framework Source: Cornelia Butler Flora, Mary Emery, Susan Fey and Corry Bregendahl, “ Community Capitals: A Tool for Evaluating Strategic Interventions and Projects”,

  9. Why Focus on These 7 Capitals? The Floras (2008) discovered that Places that are best able to support viable economic development strategies give attention to all seven capitals. Green and Haines (2008) found that: Investments made in these resources help to advance the quality of community life.

  10. Asset-based Planning in Tennessee STEP ONE: Five-Year Asset Based Strategic Plan The strategic plan must include the following: • Address ALL development issues in the community. These are to include, but not limited to the following: education, work force development, business recruitment, business expansions, business retention, infrastructure, etc. • Participation from, information about and responsibilities of the active economic development organizations in the community. These include the JECDB, industrial development organizations, tourism development organizations, etc. • Timeline to annually review, adjust and update the strategic plan. Download Three-Star Program Requirements: and 08-09 Program Addendum:

  11. CREST and Three Star: Targeted Actions

  12. CREST and Three Star: Strategic Actions

  13. TVA Community Assessment Tool

  14. Group Activity Linking Local Assets and Community Capitals

  15. The Information Who? (Individual/Agency/ Institution) In what way do they support Entrepreneurialism? Where are they located- physically? On the “Post-it” note, place the following information Name Short description Entrepreneurial Support Activity Location (town or city)

  16. The Intersection VOLUNTARY FORMAL

  17. The Activity: 7 Capitals • Who? • (Individual/Agency/Institution) • How do they support Entrepreneurialism? • Where are they located- physically?

  18. Proposed Program Schedule

  19. July Webinar Logistics Date: Wednesday, July 28, 2010 Time: 10am-12noon (Central) Subject: “Strategic Planning for Entrepreneurial Development” The next webinar will cover strategic planning for communities interested in fostering entrepreneurship development. Speaker: Michelle Williams, Executive Director Mt Pleasant Community Development Corporation Attend the meeting: use this link

  20. The End SeeyouinJuly!