Creating a comprehensive strategy [CEDS] to promote more entrepreneurial local communities, especially in rural settings

1. Nurturing a Resilient, Self-
Renewing Economy
Building Entrepreneurial Potential

2. Entrepreneurial Potential?
• We need more opportunities
• We need somebody to see those
opportunities
• Those “somebodies” are entrepreneurs

3. “21st Century Economic Development”: The Basics
MULTIPLE APPROACHES: “Think Tip O’Neill!”
* Adds business creation, nonprofit creation, and an entrepreneurial approach to
business expansion (to the existing mechanisms for business attraction/recruitment
& retention).
* Focus strongly on job-creating growth in parallel to supporting non-growth firms
that provide economic diversity.
* Bridging assets (BA) which link and support innovation assets (IA) and
entrepreneurial assets (EA) – and does so proactively (not a passive liaison but
actively identifying and promoting connections).
* Focus on technology as both an end (e.g., a high tech firm) and as a means
(e.g., using technology to support firms to be more competitive).

4. “21st Century Economic Development”: The Basics (p. 2)
PARTNERSHIPS & NETWORKS
* Works to build genuine partnerships among potential resources and
potential clients.
* Creates networks of networks by taking advantage of partners’ own
networks.
* Identifies each partner’s distinctive competence and applies it where
needed.
THE ‘HEART’ of 21st CENTURY DEVELOPMENT
* Understands that at the heart of development are passionate
professionals who entrepreneurially identify opportunities to use
institutions to help entrepreneurship.
• Understands how entrepreneurs, technologies, small firms, large firms,
academe and government fit together in a healthy economy that is
resilient and growing.

5. The Economic Development “Puzzle”
–and how it fits together
3 6
2
7 5
4
1
Note: Here we use the Christensen definition of technology-- “the processes by which an organization transforms labor,
capital, materials, and information into products and services of greater value.” In other words, mechanisms that facilitate
and support significant growth.

6. Key Expertise by Domain
“Pieces of the Puzzle” Needs Sources of Expertise
1) Technology Development Inventory innovation assets TEAMS
SBIR/STTR training TechConnect
2) Entrepreneur Development Training in Growth TEAMS
(Gazelle) Entrepreneurship
Mentoring non-growth IEDA, ISBDC
Peer support organizations TechConnect
3) Rural Development Train-the-trainer, etc. IRP/TEAMS/IEDA

7. Key Expertise by Domain, cont.
“Pieces of the Puzzle” Need Sources of Expertise
4) Tech/Entrepreneurship Training in Tech Entrep TEAMS
TechConnect
Service providers
Peer support organizations Kickstand,, etc.
5) Rural/Entrepreneurship Small business training SBA, ISBDC,
Small business mentoring IEDA?, IRP?
Add to GEM training TEAMS
6) Rural/Technology North Dakota model TEAMS.
(fill the pipeline) Governors Office
South Dakota model N2TEC,
(matchmaking techs to rural) TechConnect
7) Rural/Technology/Entrep Train-the-trainer IEDA/TEAMS/TechConnect