The key ingredients of a successful entrepreneurial ecosystem are the same, regardless of the community in which they exist. There are, however, differences between the breadth and depth of support resources in every community, large or small. This post identifies the “ingredients” (elements) of any entrepreneurial ecosystem. In a subsequent post, we will discuss the importance of linking ecosystems between communities so that entrepreneurs and small business owners can obtain support regardless of where they are located (more on that later).
Before launching into each of the ecosystem ingredients, I would be remiss if I didn’t make mention of the book “Startup Communities”, written by Brad Feld. Feld shares his experiences with Boulder Colorado, one of the most highly regarded start-up communities in our country. This book has been an inspiration and a guiding star for some of the work in creating our startup community in the Spokane region.
The elements of the entrepreneurial ecosystem are the same, regardless of whether you have a product or services business, regardless of industry or otherwise. The resources within the ecosystem are available if and when a business has a specific need for support at some point during its lifecycle. The support resources include individuals and organizations, and typically fall in one of the following categories:
- Entrepreneurs, Mentors & Advisors
- Spaces & Places
- Events, Meetups, & Networking
- Service Providers
- Big Companies, Government, & Community Resources
- Local Dedicated Press
The most significant challenge of any entrepreneurial ecosystem is how an entrepreneur or small business is made aware of the support resources that exist, and how they effectively navigate the system. In subsequent posts, we will expand upon and examine each of the ingredients of the entrepreneurial ecosystem.