Entrepreneurship
Entrepreneurship
Laying the groundwork for innovation
Entrepreneurial ecosystems provide a region with access to valuable knowledge, appropriately skilled labor, financial resources, and quality suppliers. As digitalization, rising global incomes, and human capital create new opportunities for entrepreneurship, cities need a new playbook for investing in their local entrepreneurial communities.
Supporting entrepreneurial growth on a local level
For governments to make policies that effectively support the development of successful entrepreneurial ecosystems, they need information about their needs, structure, and the relative deficiencies of their local ecosystem, specifically:
● Knowledge: The key information to operate companies effectively
● Workers: A workforce with the skills entrepreneurs need
● Financing: Access to start-up capital or investments needed to scale
● Market: Ability to reach customers, either physically or digitally
● Specialized inputs: Access to providers with the necessary infrastructure of a company’s offerings
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