News

Ingredients of an Entrepreneurial Ecosystem – Overview

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).Ecosystem Resources graphic

 

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.StartupCommunities

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
  • Funding
  • Spaces & Places
  • Education
  • Events, Meetups, & Networking
  • Service Providers
  • Big Companies, Government, & Community Resources
  • Local Dedicated Press
  • Livability

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.

Share

Leave a Comment

Related Articles

February 21, 2024

Spokane and Coeur d’Alene Named as Host Communities by the International Economic Development Council GSI, in partnership with the Coeur d’Alene EDC, has been selected …

Next Step to Build a Local Creative District Underway Read More »

February 20, 2024

By Pia Hallenberg *This story first appeared in the 2023 GSI Connect Magazine, which can found on our About Us page. Connect with us and learn how your …

New Nursing Licensure Compact Helps Fill Workforce Shortage Read More »

February 20, 2024

By Jim Hedrick, GSI WA State Lobbyist and Spokane Regional Advocate GSI Advocacy Connect Sponsor Presenting Sponsor GSI Legislative Fly-In Sponsors Presenting Sponsor Executive Sponsor
Posted in: Public Policy
Scroll to Top