Entreprenuership in West Virginia - Montani semper creare

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Entreprenuership in West Virginia - Montani semper creare

  1. 1. Montani Semper Creare Mountaineers Always Create! 7.25.11
  2. 2. Agenda <ul><li>What does the future hold for graduates – forecasted job opportunities    </li></ul><ul><li>How the events in our state are driving communities and individuals’ entrepreneurial spirit </li></ul><ul><ul><li>Boy Scouts – The Summit </li></ul></ul><ul><li>What skills sets you deem necessary for students interested in entrepreneurial ventures </li></ul><ul><li>Why education must change to meet the needs </li></ul><ul><li>How education and teachers can help prepare our students </li></ul>
  3. 3. My Story
  4. 4. www.mythologymarketing.com
  5. 5. Firms ages zero to five account for between 30 percent and 40 percent of all firms
  6. 8. Growth Sectors See more: http://usat.ly/erCtnh
  7. 11. Creativity and Education <ul><li>72% of college graduates go on to do creative work </li></ul><ul><li>A jobs strategy needs to start from a fundamental principle: That each and every human being is creative and that we can only grow, develop, and prosper by harnessing the full creativity of each of us </li></ul><ul><li>For the first time in history, future economic development requires further human development. This means develop a strategy to nurture creativity across the board – on the farm, in the factory, and in offices, shops, non-profits, and a full gamut of service class work, as well as within the creative class. </li></ul><ul><li>Read more: http://dept.sfcollege.edu/cied/newCIEDpages/media/Creative%20Class.pdf </li></ul>
  8. 12. Entrepreneurial Insights <ul><li>About 6.2 per 100 U.S. adults 18 years and older are engaged in trying to start new firms </li></ul><ul><li>Prevalence rate for men 18 years and older is 8.1 per 100, about twice the 4.5 per 100 for women 18 and older </li></ul><ul><li>Over 10.1 million nascent entrepreneurs are attempting to put 5.6 million new firms in place </li></ul><ul><ul><li>Compare to 2.4 million marriages and 3.9 million live births </li></ul></ul><ul><li>Average start-up team is about 1.8 people </li></ul>
  9. 13. Innovation, Entrepreneurship and Culture Largest 9 Arab Countries 1980 - 2000 370 patents 2000 2,125 patents
  10. 14. It’s About the Culture <ul><li>&quot;The difference is in psychology: everybody in Silicon Valley knows somebody that is doing very well in high-tech start-ups; so they say to themselves ‘I am smarter than Joe. If he could make millions, I can make a billion.’ So they do and they think they will succeed and by thinking they can succeed, they have a good shot at succeeding. That psychology does not exist so much elsewhere.” </li></ul><ul><ul><li>Investor Tom Perkins </li></ul></ul>
  11. 15. Demographic Implications for WV <ul><li>Our older population is less likely to start a business </li></ul><ul><li>Our less educated population is less likely to start a business </li></ul><ul><li>Our population has fewer minorities and immigrants , so we are less likely to start a business </li></ul><ul><li>Our average lower household income makes it less likely that we start a business </li></ul><ul><li>Our rural population is less likely to start a business than an urban population </li></ul>
  12. 16. What Does it Take to Ignite Entrepreneurship? <ul><li>Money </li></ul><ul><ul><li>Free Flow of Risk Capital </li></ul></ul><ul><li>Magnets </li></ul><ul><ul><li>Assets and Opportunities That Attract Risk Investments </li></ul></ul><ul><li>More Entrepreneurs </li></ul><ul><ul><li>Risk – Reward as a Way of Life </li></ul></ul>
  13. 17. Magnets: Build it and They Will Create? Now: Then:
  14. 18. Possible Sources of Entrepreneurs <ul><li>Immigration </li></ul><ul><li>From other states </li></ul><ul><li>From other countries </li></ul>Train & Encourage WV Adults Train & Encourage WV Students Short-Term Long-Term Low Quantity High Quantity WV College Students
  15. 19. Developing Entrepreneurial Skills <ul><li>Vision – Opportunity Identification </li></ul><ul><li>Self-Confidence…But Not Arrogance </li></ul><ul><li>Persistence </li></ul><ul><li>Delayed Gratification </li></ul><ul><li>Comfort with Ambiguity </li></ul><ul><li>Collaboration </li></ul><ul><li>Flexibility </li></ul><ul><li>Resourceful (Money) </li></ul><ul><li>Systems – Relationships </li></ul>An entrepreneur tends to bite off a little more than he can chew hoping he'll quickly learn how to chew it – Roy Ash, co-founder of Litton Industries
  16. 20. How to Build These Skills? <ul><li>Start early </li></ul><ul><li>Innovation Exercises </li></ul><ul><li>Simulations </li></ul><ul><li>Competitions </li></ul><ul><li>Role Models </li></ul><ul><li>Peer Community </li></ul><ul><li>Mentors </li></ul><ul><li>Exposure </li></ul>Formal education will make you a living; self education will make you a fortune. – Jim Rohn
  17. 21. Suggested Resources to Explore <ul><li>KidPreneurs </li></ul><ul><ul><li>http://www.kidpreneurs.org </li></ul></ul><ul><ul><li>Duane Thomas db.thomas@ymail.com </li></ul></ul><ul><li>Network for Teaching Entrepreneurship </li></ul><ul><ul><li>http://www.nfte.com </li></ul></ul><ul><li>Build </li></ul><ul><ul><li>http://www.build.org </li></ul></ul><ul><li>Empowerment Group </li></ul><ul><ul><li>http://www.empowerment-group.org </li></ul></ul>
  18. 22. About Create WV <ul><li>Mission </li></ul><ul><ul><li>Build creative communities for innovation economy growth to empower West Virginians at a local level to place themselves among the most innovative, dynamic, prosperous, creative communities in the world. </li></ul></ul><ul><li>Launched publicly June 2007 (createwv.com) </li></ul><ul><li>Incubated from Vision Shared’s Creative Communities team (visionshared.com) </li></ul><ul><li>Independent organization as of Spring 2011 </li></ul>Here a diverse community of West Virginians comes together to create a West Virginia that thrives on innovation, artistic vision, connectivity, diversity, entrepreneurship, technology and growth. In short – a West Virginia for the New Economy.
  19. 23. Pillars and Strategies <ul><li>Strategies </li></ul><ul><li>Empower communities and individuals with innovation economy/creative community awareness and skills </li></ul><ul><li>Incubate and launch social/commercial entrepreneurship projects </li></ul><ul><li>Advocate for statewide policies and programs that make it easier to “create West Virginia” </li></ul><ul><li>Promote West Virginia as a great place to live and create </li></ul><ul><li>Pillars </li></ul><ul><li>Quality of Place </li></ul><ul><li>Technology </li></ul><ul><li>Education and Talent </li></ul><ul><li>Diversity </li></ul><ul><li>Entrepreneurship </li></ul>
  20. 24. Sample Projects
  21. 25. Can We Do This?
  22. 26. Let’s Create! “ Creativity can solve almost any problem. The creative act, the defeat of habit by originality, overcomes everything.” George Lois www.twitter.com/createwv www.facebook.com/createwv www.youtube.com/createwv www.createwv.com [email_address]

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