Thursday, September 26, 2002
Iowa's new entrepreneurial strategy is getting off the ground. Spurred by the passage of four pieces of legislation to encourage venture capital formation, the strategy is designed to send "a strong message that we are a state that encourages entrepreneurial minds to be a part of our future," according to the governor.
One particularly impressive feature about Iowa's approach is connecting a potential source of venture capiutal (insurance companies) with a delivery system (the Pappajohn Entrepreneurial Centers that are connected with state schools in Ames, Cedar Falls, Iowa City and Mason City). The problem in Iowa -- as in most states -- occurs even before entrepreneurs get to the level of formal venture capital investment. By that stage, business development is already fairly far along the track: a basic management team with a legal structure and accounting controls is in place, the prototype business model has been tested.
Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
Iowa's strategy to build entrepreneurship
