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U Portland - Reviewing Your Entrepreneurship & Innovation Ecosystem - Open 2011


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U Portland - Reviewing Your Entrepreneurship & Innovation Ecosystem - Open 2011

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  2. 2. Reviewing Your Entrepreneurship and Innovation Ecosystem:A Case Study for Portland, Oregon<br />Jon Down, Ph. D. & Peter Rachor<br />University of Portland<br />(Oregon)<br />3/25/2011<br />Center For Entrepreneurship<br />2<br />
  3. 3. Project Background<br />City Economic Development Agency Commissioned Study of “State of Entrepreneurship” in Portland<br />Univ of Portland was awarded project competing with 12 other proposers, included researchers from other organizations to form “dream team”<br />Rob Wiltbank, Ph. D. – Willamette Univ.<br />Joe Cortright – Impresa Consulting<br />Project Start – May, 2010<br />3/25/2011<br />Center For Entrepreneurship<br />3<br />
  4. 4. Project Scope and Methodology<br />In Person Interviews and Follow <br /> Up Online Survey – 100 KOL<br />Online Surveys to Members of<br /> Relevant Industry Associations<br />Review of Literature and Prior Studies<br />Benchmark Cities – SFO/SEA/DEN/AUS/MSP/CVG<br />Determination of Appropriate Metrics<br />3/25/2011<br />Center For Entrepreneurship<br />4<br />
  5. 5. 3/25/2011<br />Center For Entrepreneurship<br />5<br />
  6. 6. Entrepreneurship: What Is It?<br />For the study “entrepreneurship” is broadly defined to include starting and growing high potential businesses that may be likely to take advantage of outside funding, as well as established small businesses that are innovative and growth-oriented.<br />GEM, Kauffman, Lowe Foundation, SBA, Census of Business Owners<br />3/25/2011<br />Center For Entrepreneurship<br />6<br />
  7. 7. What Matters to Policy Makers?<br />3/25/2011<br />Center For Entrepreneurship<br />7<br />
  8. 8. 3/25/2011<br />Center For Entrepreneurship<br />8<br />
  9. 9. Employment & Wealth Creation<br />3/25/2011<br />Center For Entrepreneurship<br />9<br />
  10. 10. A City is More Entrepreneurial If…<br />more spin outs and patent activity, a large number of smaller firms, with many people starting new firms, more highly educated workers with positive migration, more spin outs and patent activity, more venture funding activity, and a large number of wealthy people.<br />3/25/2011<br />Center For Entrepreneurship<br />10<br />
  11. 11. Key Areas of Assessment<br />Talent/Workforce<br />Innovation<br />Capital Access<br />Ecosystem<br />Activity<br />3/25/2011<br />Center For Entrepreneurship<br />11<br />
  12. 12. 3/25/2011<br />Center For Entrepreneurship<br />12<br />
  13. 13. 3/25/2011<br />Center For Entrepreneurship<br />13<br />
  14. 14. 3/25/2011<br />Center For Entrepreneurship<br />14<br />
  15. 15. 3/25/2011<br />Center For Entrepreneurship<br />15<br />Innovation Measurements<br /> Research Universities<br />
  16. 16. 3/25/2011<br />Center For Entrepreneurship<br />16<br />Sources of Start Up & Growth Capital<br />
  17. 17. 3/25/2011<br />Center For Entrepreneurship<br />17<br />
  18. 18. 3/25/2011<br />Center For Entrepreneurship<br />18<br />
  19. 19. Clusters and Venture Capital<br />3/25/2011<br />Center For Entrepreneurship<br />19<br />
  20. 20. VC Will Become More Competitive and Fewer Companies Will Access It<br />3/25/2011<br />Center For Entrepreneurship<br />20<br />
  21. 21. 3/25/2011<br />Center For Entrepreneurship<br />21<br />
  22. 22. 3/25/2011<br />Center For Entrepreneurship<br />22<br />FIGURE 1: Number of Top 5 Percent Growing Firms, by Age<br />FIGURE 1: Number of Top 5 Percent Growing Firms, by Age<br />Top 1% Performing Firms by Size<br />
  23. 23. Economic Development DynamicsNumber of Top 5 Percent Growing Firms, by Age<br />3/25/2011<br />Center For Entrepreneurship<br />23<br />
  24. 24. 3/25/2011<br />Center For Entrepreneurship<br />24<br />
  25. 25. 3/25/2011<br />Center For Entrepreneurship<br />25<br />
  26. 26. Take Aways <br />Cities will High Levels of Entrepreneurial Activity Don’t Necessarily Produce The Highest Levels of Large Employer Firms or Wealth<br />Time and Historical Horizon Matters A Lot in Evaluation of Results…But What About the Future?<br />Attitude and Aspiration Are Very Significant Influencers of Firm Creation and Growth<br />Are High Wages Jobs and Wealth the Best (or Only) Measures of Entrepreneurial Economic Development?<br />3/25/2011<br />Center For Entrepreneurship<br />26<br />