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Building a Robust Entrepreneurial Ecosystem, Network Analysis - Presentation @Facebook Conference

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Think Locally, Act Locally
Building a Robust Entrepreneurial Ecosystem

by Arnobio Morelix
San Francisco, August 15, 2014

Report by: Yasuyuki Motoyama
Jared Konczal
Jordan Bell-Masterson
Arnobio Morelix

More info about:
Social Science Research Network: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2425675
Venture Beat: http://venturebeat.com/2014/04/19/two-theses-for-building-an-entrepreneurial-ecosystem-in-your-community/
Forbes: http://www.forbes.com/sites/kauffman/2014/04/28/building-your-startup-community-lessons-from-entrepreneur-twitter-patterns/
Business Insider: http://www.businessinsider.com/empirical-support-for-the-boulder-thesis-2014-4

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Twitter: www.twitter.com/arnobiomorelix
LinkedIn: www.linkedin.com/in/morelix
Company Profile: www.kauffman.org/who-we-are/leadership-and-associates/associates/arnobio-morelix
Personal Website: www.arnobiomorelix.com

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Building a Robust Entrepreneurial Ecosystem, Network Analysis - Presentation @Facebook Conference

  1. 1. © 2013 Ewing Marion Kauffman Foundation www.kauffman.org © 2013 Ewing Marion Kauffman Foundation Think Locally, Act Locally Building a Robust Entrepreneurial Ecosystem Arnobio Morelix San Francisco, August 15, 2014
  2. 2. © 2013 Ewing Marion Kauffman Foundation Startup Communities and Local Networks By: • Yasuyuki Motoyama • Jared Konczal • Jordan Bell-Masterson • Arnobio Morelix Motoyama, Yasuyuki and Konczal, Jared and Bell-Masterson, Jordan and Morelix, Arnobio, Think Locally, Act Locally: Building a Robust Entrepreneurial Ecosystem (April 2014). Mobile survey, web survey, and Twitter-based approach
  3. 3. © 2013 Ewing Marion Kauffman Foundation Kauffman Foundation • The Kauffman Foundation is a private, nonpartisan foundation. • Foster entrepreneurship and education. • Founded by late entrepreneur and philanthropist Ewing Marion Kauffman. Based in Kansas City, Mo., $2 billion endowment. • Research & Policy Department. www.kauffman.org
  4. 4. © 2013 Ewing Marion Kauffman Foundation Startup Communities • Boulder Thesis 1. Led by entrepreneurs o Leaders (entrepreneurs) and Feeders (e.g.: professors, policymakers) 2. Inclusive and diverse o Serial entrepreneurs, beginners, supporters 3. Focused engagement o Entrepreneurial-focused activities VS., for instance, cocktail parties 4. Long-term commitment o 20+ years timeframe for leaders Underlying argument: connections and networks are important for the entrepreneurial process
  5. 5. © 2013 Ewing Marion Kauffman Foundation Startup Communities • Boulder Thesis 1. Led by entrepreneurs o Leaders (entrepreneurs) and Feeders (e.g.: professors, policymakers) 2. Inclusive and diverse o Serial entrepreneurs, beginners, supporters 3. Focused engagement o Entrepreneurial-focused activities VS., for instance, cocktail parties 4. Long-term commitment o 20+ years timeframe for leaders Underlying argument: connections and networks at the local level are important for the entrepreneurial process
  6. 6. © 2013 Ewing Marion Kauffman Foundation Research Questions Who entrepreneurs learn from? Global or local? “Digital Age” conventional wisdom VS. Feld’s hypothesis 1. Where entrepreneurs in KC get their information from? Local VS. Global 2. What are the network patterns of the entrepreneurship program participants in the network among themselves? 3. Do “online” Twitter resemble “offline” networks? How are these entrepreneurs connected to other entrepreneurship programs?
  7. 7. © 2013 Ewing Marion Kauffman Foundation
  8. 8. © 2013 Ewing Marion Kauffman Foundation 1 Million Cups • Weekly meet ups for entrepreneurs and startups. Primarily tech. • 250 attendees/week in Kansas City alone. • Growing nationally. • 50 different cities, E.g.: o Boulder, CO; o Chicago, IL; o Dallas, TX; o Denver, CO; o Kansas City, MO; o San Diego, CA. • Pilot tool to be expanded. Community we were interested in investigating (+convenience).
  9. 9. © 2013 Ewing Marion Kauffman Foundation Method • Survey Period: May, 2013 and January, 2014. • Sample Size: 132 entrepreneurs. o 74 provided Twitter handle. o Small sample, but not a small sliver of tech entrepreneurs in Kansas City. • Twitter profiles: 18,929 (2013) and 22,339 (2014) Twitter profiles followed by this group. • Latent networks: who they follow in common. • Data Collection: o Mobile survey; o Web survey; o Twitter API (who entrepreneurs follow – information flows).
  10. 10. © 2013 Ewing Marion Kauffman Foundation Latent network - 18,929 feeds • Vast majority followed by 1 or 2 entrepreneurs • 1% of total feeds, top 10% most followed (weighted) Source: Y. Han; S.J. Goetz Penn State Febr. 2014
  11. 11. © 2013 Ewing Marion Kauffman Foundation Descriptive findings • Entrepreneurs follow entrepreneurs. While the most popular Twitter accounts in the United States belong to celebrities, entrepreneurs are following primarily local entrepreneurship-focused accounts. • Entrepreneurship as a local phenomenon. The most influential Twitter feeds among the entrepreneurs surveyed are primarily local. • Online connections resemble offline connections. Twitter following patterns are consistent with ‘offline’ program participation pattern. • Population: o Most (27%) age 25-34. o Males outnumber females 2-to-1 o Tech-oriented.
  12. 12. © 2013 Ewing Marion Kauffman Foundation 1) Where entrepreneurs in KC get their information from? Local VS. Global • Who do entrepreneurs in KC follow? • Where do entrepreneurs get their information from? • What is the geographical scope? • Do they look like the average Twitter user?
  13. 13. © 2013 Ewing Marion Kauffman Foundation
  14. 14. © 2013 Ewing Marion Kauffman Foundation Source: Y. Han; S.J. Goetz Penn State Febr. 2014
  15. 15. © 2013 Ewing Marion Kauffman Foundation Most Followed Twitter Feeds by # of followers # Feeds Followers # Feeds Followers 1 1millioncups 50 11 Prentiss Earl III 26 2 Kauffman Foundation 41 11 Local Ruckus 26 3 Silicon Prairie News 39 13 KC Business Journal 25 4 Launch KC 36 13 Kansas City 25 5 KCSourceLink 35 15 Big Kansas City 23 6 Kauffman Labs 32 15 Adam Arredondo 23 6 KC Startup Village 32 17 Nate Olson 22 8 Mayor Sly James 30 17 Kansas City Star 22 9 Cameron Cushman 28 17 Ryan Weber 22 10 KCNext 27 • Top 20 almost exclusively entrepreneurship-related. “Celebrities” very little represented.
  16. 16. © 2013 Ewing Marion Kauffman Foundation Top 10% most followed feeds, weighted More local, more followers
  17. 17. © 2013 Ewing Marion Kauffman Foundation Top 10% most followed feeds, weighted
  18. 18. © 2013 Ewing Marion Kauffman Foundation National Figures? o Kauffman Foundation (40 followers in January 2014); o Brad Feld (16 followers); o Startup Weekend (13 followers); o Mark Cuban (12 followers). • Mashable, 10 Essential Entrepreneurs to Follow on Twitter; • Huffington Post, The 8 Best Entrepreneurs To Follow On Twitter • TNW (The Next Web), The 25 Most Influential People Tweeting About Entrepreneurship; • Nibletz, Follow Friday: 50 Startup Related Twitter Accounts To Follow Everywhere Else; • Under30CEO, 25 Twitter Chats Every Entrepreneur Must Know
  19. 19. © 2013 Ewing Marion Kauffman Foundation 2) What are the network patterns of the entrepreneurship program participants in the network among themselves? • Within the network, connection over time. • 35% are more connected with other participants in the sample. 0 5 10 15 20 0 1 2 3-5 6-9 10-14 15-18 May-13 Jan-14 35 33
  20. 20. © 2013 Ewing Marion Kauffman Foundation 3) How are these entrepreneurs connected to other entrepreneurship programs? Do “online” Twitter resemble “offline” networks? • Twitter following patterns consistent with “offline” program participation pattern.
  21. 21. © 2013 Ewing Marion Kauffman Foundation Participation of 1MC attendees in other local networks and programs (May 2013) mobile and web surveys
  22. 22. © 2013 Ewing Marion Kauffman Foundation Descriptive findings • Despite “digital age” intuition, these entrepreneurs follow overwhelmingly local entities. • Entrepreneurs follow mostly entrepreneurs and entrepreneurship-related accounts. • Twitter following patterns consistent with “offline” program participation patterns.
  23. 23. © 2013 Ewing Marion Kauffman Foundation Research Challenges • More extensive data collection. More locations, more people, more social networks. • How representative are social media connections? How representative are social media populations?
  24. 24. © 2013 Ewing Marion Kauffman Foundation Thank you! amorelix@kauffman.org • Let me know of anything I can help you with.

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