Driving Economic Growth Through Entrepreneurship. Lessons From Spokane s Efforts

Transcription

1 Driving Economic Growth Through Entrepreneurship Lessons From Spokane s Efforts

2 First Thing First Entrepreneurship Director Greater Spokane Inc. Previous Owner of Two Companies Energy Efficiency Industry Entrepreneurship Communities

3 Identifiable Challenges Community Challenge Organizational Challenge Structural Challenge Generational Challenge

4 Community Challenge Spokane Startup Ecosystem Multiple Startup Events, Activities, and Organizations Organic Startup Culture BUT. Lack of Cohesion, Vision, or Community Organization

5 Organizational Challenge Greater Spokane Inc. Traditional ED Strategies Lack of Small Business and Startup Focus Lost Assistance Opportunities Missing Community Connections

6 Structural Challenge Startups provide nearly all net job growth in the US Create positive economic churn Up or out More ideas -> more competition = Better allocation of resources U.S. averages 300 new startups per month per population of 100,000

7 Spokane is 50% Below U.S. 3,740 Businesses Started Average For Startups 2013 City of Spokane Data 1,442 Businesses Closed

8 Generational Challenge By 2025, Millennials Will Represent 75% of The Labor Force Highest Educated Workforce Fleeing Spokane Market Least Likely Generation to Launch A Company

9 Addressing Challenges Spring 2014 Ecosystem Visioning Session Organized By GSI 40 + Participating entrepreneurs, startup community champions, and local stakeholders

10 Addressing Challenges Spring 2014 Ecosystem Visioning Session Mapping The Startup Ecosystem Where Where We? Where Do We Go? How Do We Do It?

11 First Findings Spring 2014 Ecosystem Visioning Session Many Resources, Lack of Focus Heavily Leveraged Volunteers Large Gaps In Ecosystem Lack of Measurement, Feedback Loop

12 Immediate First Steps Seed funding - $300K over 3 years Direct From Multiple Organizations New Branch of GSI Economic Development Separate Branding, Autonomy, Feel Hired Entrepreneur Program Director Front Door For Entrepreneurs Develop and Maintain Programs Establish and Solidify Relationships

13 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

14 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

15 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

16 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

17 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

18 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

19 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

20 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

21 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

22 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

23 First Year Progress Startup Spokane First Year Focus Entrepreneurship Assistance & Mentorship Ecosystem Organization Community Culture & Education Communications & Outreach Entrepreneurship Space

24 Share Space Spokane (2013) 25 Members Max Startup Spokane Central 50+ Members Max

25 Startup Spokane Central 3x More Space 6x More Seating 4x More Meeting Rooms Event Venue w/stage More Privacy (Phone Booths) Better Vibe (Lighting/Décor) Better Visibility (Street Level) Better Synergy (Entrepreneurial Center, GVL, SCORE, ACFE)

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28 What Is The Niche You Want To Support? Pre Existing Community? Leadership or Support?

29 ü Internal Community Support ü Outside Stakeholders Engagement ü Addressing a Challenge Space Success Mission Driven Space

30 Parents, Students, Tinkerers, Educators Education Institutions, Companies, Gov t Addressing Gaps In Education For The Future Workforce, Alternative Learning Models, Select Industry Support Maker Spaces

31 Startups, Nomads, Industry Specific Education Institutions, Corporations, Gov t, Investment Firms, ADO s Coworking / Accelerator Supporting Sector Growth, Vibrancy, Cohesion, and Synergies, Encouraging Entrepreneurship, Creating Investment Pipelines

32 What Have We Learned In 10 Months? Here s The Short List.

33 1. Spaces Are Necessary. But Community Comes First.

34 2. Creativity Breeds Startups. Culture Breeds Creativity.

35 3. Every Idea Needs A Place To Go. Every Idea Has Potential.

36 4. Partner Relations Are Key. But Never Forget Your Real Client.

37 5. Companies Aren t Built Overnight. Neither Are Startup Communities.

38 Thank You! Driving Economic Growth Through Entrepreneurship Lessons From Spokane s Efforts Ryan Arnold RArnold@GreaterSpokane.org