Our Economy Measures Success with the Wrong Metrics. Here is How We Should Measure Successful Economic Development

Co Starters

A collection of people organized toward achieving shared economic goals is a “business.” In a family we might talk about shared love and the ability to develop mutually beneficial, non-toxic relationships. Features economic development entrepreneurship metrics small business

Our Economy is Moving from the Industrial Age to the Connected Age. Here is What that Really Means.

Co Starters

Traditional economic development has largely focused on increasing economic output by attracting and keeping companies that deliver the maximum number of jobs possible. Of course, corporate recruitment will always be an important function of economic developers.

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Broadband critical for economic development

Innovation 2 Enterprise

According to the Federal Communication Commission’s 2018 broadband deployment chart, Oklahoma is last in our region in broadband development. By Scott Meacham. Copyright © (2019), The Oklahoman. I learn something new practically every day in this job. For example, did you know that Oklahoma has a state meal?

Innovation is key to economic development

Innovation 2 Enterprise

Driving innovation through collaboration to create jobs is the entire reason for being of the public-private consortium of the Oklahoma Center for the Advancement of Science and Technology (OCAST), the Oklahoma Manufacturing Alliance (OMA), the Oklahoma State University New Product Development Center (NPDC) and i2E. OCAST is Oklahoma’s only agency with the sole focus of technology-based economic development. By Scott Meacham. Copyright © 2019, The Oklahoman. Innovate.

Accelerators and economic development: is there a fit?

Carol Lauffer

When designing an accelerator, economic developers face the question: Should access be strictly limited to entrepreneurs residing within our community or region, or be open to anyone regardless of his or her geographic location? Thus, the conundrum for economic developers: should you place geographic restrictions on applicants, or not? Of course, they are venture or investment driven models, not economic development driven.

Protect Land, Create Jobs: Economic Development and Land Conservation

EntreWorks Consulting

I’ve always appreciated these protected lands for their natural beauty, but they’re also an important contributor to new job creation and economic development. But, this research finds that land preservation can often produce better economic outcomes, finding that communities with higher levels of land protection also had higher employment numbers. Protect Land, Create Jobs: Economic Development and Land Conservation.

New Resources from National Partners

Co Starters

The first playbook, Elevating Women in Entrepreneurship, is a 78-page guide that covers community outreach techniques, how to develop a female-supportive network, solutions for work-life balance, how to fix the pipeline to encourage more women investors, and more.

Navigating the Stages of Community Growth

Co Starters

Despite suffering significant economic loss which spawns a culture of grim survival, a growing number of communities are beginning to break free of the past in an unexpected comeback. A new model for economic development.

New EntreWorks Insights Now Available

EntreWorks Consulting

This issue examines the power of place in economic development, and discusses how we can use work spaces,such as our offices, business incubators, and coworking spaces, to help build social capital, build community, and advance the cause of economic development. The latest issue of our e-newsletter, EntreWorks Insight s, is now available.

WINNERS OF BEN FRANKLIN’S BIG IDEA CONTEST ANNOUNCED!

Ben Franklin Technology Partners

The team is developing a web-based APP that empowers the development of an effective education for children with disabilities. The company is developing a plug and play device, Smart Horns, for autos that gives drivers alternative, customized sound options.

Five Years of Transformation

Co Starters

A growing number of regular people care deeply about sharing their passion, knowledge, and expertise with the world through business, but they feel disconnected from existing institutional economic development resources and business support.

Networks vs. Nodes: Developing New Business Models for the Connected Age

Co Starters

Our team at CO.STARTERS has gradually realized we are not just collaborating with these players as we jointly pioneer a new way of doing economic development. The post Networks vs. Nodes: Developing New Business Models for the Connected Age appeared first on CO.STARTERS®.

Bridging the Rural Opportunity Gap

Co Starters

In many small towns, the historic loss of one large industrial employer has been more than enough to start a downward economic spiral that is more difficult to overcome than it would be in places with more remaining jobs and some of those other assets. Economic Development Administration.

Growing a Living Community

Co Starters

Of these, more than 8,000 went through CO.STARTERS foundational business development program; 85% of participants from 2014–18 reported that they are still working in their venture. . CO.STARTERS Summit Highlights Deepened Support for Entrepreneurial Leaders.

Entrepreneurship & Small Business Development: On-Line Course (June 18-19)

EntreWorks Consulting

I’ve developed something of a tongue-in-cheek “formula” for what communities should consider doing to help spur recovery after the pandemic: T + I + E + BRE = R. Communities that invest in T alent, I nfrastructure, E ntrepreneurship, and enhanced B usiness R etention & E xpansion programs will likely have the best potential for economic R ecovery. My co-presenters will be Carol Lauffer of Business Cluster Development LLC and Tom O’Neal of GROW Florida.

ESHIP Year Three: From Inspiration to Action

Co Starters

Throughout this entire process, it has been incredibly inspiring to see hundreds of national leaders put so much time, energy, and passion into accelerating the evolution of the economic development field. More than half of our CO.STARTERS national team (8 out of 15!)

Ben Franklin Invests in Tech Startups Adversely Affected by COVID-19.

Ben Franklin Technology Partners

Nine tech-companies in central and northern PA, that were adversely affected by COVID-19, received an investment from Ben Franklin Technology Partners/CNP that will allow them to stabilize their operations and further develop and commercialize new products, processes, or software applications.

Forward Cities is hiring 2 new positions

Forward Cities

Forward Cities , the largest national network of cities committed to advancing inclusive innovation and economic development, is seeking two dynamic new team members: Fellows Manager. We’re growing our team with 2 new positions!

Some Upcoming Training Programs

EntreWorks Consulting

If you’re in the market for professional development opportunities, I’ve got some training programs for you to consider. They include: June 18-19: National CEDS Forum (Columbus, OH): I’ll be leading a session on economic diversification and resilience, discussing how the regional Comprehensive Economic Development Strategy (CEDS) process can help regions make smart decisions about their economic futures.

Growing a Startup Ecosystem in Louisville, KY

TechStars

Techstars, the worldwide network that helps entrepreneurs succeed, and the Louisville Entrepreneurship Acceleration Partnership (LEAP) together announce the launch of the Techstars Startup Ecosystem Development program in Louisville, Kentucky. Photo courtesy of University of Louisville.

Supporting Latinx Entrepreneurs Means Building Relationships of Trust

Co Starters

In my experience, traditional economic development and community development efforts approach most communities by saying, essentially, ‘We have the answers for you.’

Unsung Hero Spotlight: Ellen Bateman

Ecosystem Builder Hub

To advance the field, ecosystem building/development needs to be better defined as a role/career path and recognized as a crucial element of economic development. To you, what is an Ecosystem Builder? An Ecosystem Builder is connector, convener, listener, problem solver.

Putting Microlending into Practice: A Community Case Study

Co Starters

Create Birmingham is a nonprofit economic development agency focused exclusively on creative industries in Birmingham, Alabama. in REVeal Kitchen, a food stall / incubator operated by REV Birmingham, another economic development organization. By Rich Bailey.

The Achilles Heel of Startup Ecosystems

This is going to be BIG.

Across the world, various economic development organizations, government agencies, and non-profits are putting in admirable and well-intentioned efforts to develop startup ecosystems. Yet, do you know how many of those investors came through intros made by those who have a strategic economic development interest in fostering the NYC ecosystem? This is exactly the wrong way to think about the economic opportunity presented by innovation.

Ben Franklin Invests in Local Tech Companies Developing Solutions Related to Impact of COVID-19

Ben Franklin Technology Partners

Nine tech-companies in central and northern PA, that are developing solutions related to the impact of COVID-19 on the state and its economy, received an investment from Ben Franklin Technology Partners/CNP.

It Takes a Village to Build an Ecosystem

Co Starters

As the ecosystem building approach to economic and community development gains interest and credibility, the title of “ecosystem builder” has emerged to represent a specific type of community leader. By Enoch Elwell, CO.STARTERS Founder & Visionary.

Techstars and 43North Partner to Grow Entrepreneurial Ecosystem in Buffalo

TechStars

In addition, Techstars announces the formal launch of the Techstars Startup Ecosystem Development program. Techstars is launching with Buffalo as the inaugural city for the Techstars Startup Ecosystem Development Program.

Revolutionizing responsible tourism in Nicaragua

Young Leaders of the Americas Initiative

Key components and actions of responsible tourism include benefitting local economic development, ensuring tourism development benefits the community and the environment, becoming part of the local culture, and reinvesting in the local region.

Ben Franklin’s New ReStart Initiative Targets Counties in Central & Northern PA

Ben Franklin Technology Partners

By matching the generous support of $1 million in capital from the Pennsylvania Department of Community and Economic Development (DCED), Ben Franklin has created a $2 million pool of capital designed to support and sustain existing portfolio companies while also re-energizing product development and sales/marketing efforts. Ben Franklin/CNP encourages the development of new products whose demand emerges from the recovery of the economy from COVID-19.

Where does Pa. rank for tech-based investments?

Ben Franklin Technology Partners

That’s why Ben Franklin Technology Partners, created more than 35 years ago with broad bipartisan support, has become one of the most widely known and emulated state technology-based economic development programs in the nation. Everyone knows a good thing when they see it.

Practical Metrics and Methods: ESHIP Goal 5 – Part 1

Ecosystem Builder Hub

Practical Metrics and Methods (Practitioner Edition): Identify and develop better metrics and methods for ecosystem building. This is aligned with economic cycles and shows what’s been building over-time. They learn how to develop community goals and strategies to achieve those.

The Greg Main Distinguished Scholar Award

Innovation 2 Enterprise

His strategic leadership skills would be tapped once again to serve as CEO of i2E, later as President and CEO of the Michigan Economic Development Corporation and finally as President of St. Application. About Greg Main.

Investing In Distressed Communities. Opportunity Zones

Smart Hustle Magazine

Partnerships help bring long-term sustainability including economic development, entrepreneurship, safe neighborhoods, expanded workforce, and education. So the spirit of this initiative is economic development as well as community development & social impact.

Practical Metrics and Methods: ESHIP Goal 5 – Part 2

Ecosystem Builder Hub

Practical Metrics and Methods (Academic Edition): Identify and develop better metrics and methods for ecosystem building. In a nutshell : There are many metrics and methods in use in entrepreneurial ecosystem building, but they are not all widely adopted.

The Soul of Ecosystem Building

Ecosystem Builder Hub

They might work in local, state or federal government, a university, an economic development agency, a chamber of commerce, a small non-profit organization, a large corporation, or more directly in some kind of entrepreneurial support organization.

How to Replicate Amazon’s Success in Rising Cities

Revolution

Here’s why: The HQ2 search process galvanized cities to drive collaboration between universities, economic development groups, civic leaders, and startup ecosystem builders.

Ben Franklin Technology Partners to Appear Before PA Senate Appropriations Committee – 3:00 PM, Wednesday, March 6, live-streamed: [link]

Ben Franklin Technology Partners

That is simply not sustainable to foster the economic growth our Commonwealth needs. In fact, the most recent independent economic analysis shows that every dollar invested by the state into Ben Franklin generates $3.90 Ben Franklin Technology Partners is widely known and emulated as the gold standard in technology based economic development programs in the nation. But now other states are investing heavily in innovation and high-tech economic development.