In an article on Forbes.com, Yasuyuki Motoyama, a senior scholar at the Kauffman Foundation, and Karren Watkins, a research associate at the Skandalaris Center for Entrepreneurial Studies at Washington University in St. Louis, address the necessary elements for establishing effective entrepreneurship ecosystems.
Their research demonstrates that—despite each community's unique cultural, intellectual, and industrial inputs—explicit, intentional collaboration plays a critical role in fostering the growth of a nurturing entrepreneurial environment.
Rather than specific resources and physical components, Motoyama and Watkins advocate a model focused on startup entrepreneurs connecting and learning from one another.
Read an excerpt from the article below.
From Ingredients to Recipe: Startup Ecosystems and Collaboration
"How do we build the next Silicon Valley?" is a question that striving cities across the United States have been asking for decades, even before the success of Apple Computer and Xerox.
Further, this has only increased since the national economic downturn of 2008, leading many policymakers and community activists to see an entrepreneurial community, or "ecosystem," as an enticing way to spur local economic growth, especially in the high-tech and biotech industries.
The term "ecosystem" alludes to the dynamic, dependent nature of the various players and resources involved at the local level, such as entrepreneurs, funding, talent, mentoring and physical space.
Our research at the Kauffman Foundation and Washington University in St. Louis ... (suggests) that to foster new ecosystems, what cities actually need is a keen understanding of how, when and why different players interact with one another and how an ecosystem evolves over time.
That is, rather than a blanket approach of injecting missing elements, a region can benefit from understanding the relationships within a community and how those relationships unfold to establish a burgeoning ecosystem.
Read the entire article at Forbes.com.