Thursday, January 20, 2005
Babson College and the London Business School released the latest Global Entrepreneurship Monitor report. This is the sixth annual GEM report. Started in 1999, the GEM provides an analysis across countries of the factors that stimulate entrepreneurship. The project started in 1999 with 10 participating countries; it has expanded to include 34 countries in 2004,
This year's release includes an analysis of entrepreneurial financing. This portion of the report outlines the fact that formal venture capital provides a very small portion of the financing needed for most companies.
According to William Bygrave of Babson College, "Entrepreneurs seeking capital to start a business must first use their own savings, then turn to family members, next friends, work colleagues, and neighbors and finally strangers for informal investment. They should forget about formal venture capital." Read a summary of the report.
You can download the reports from this page.
posted by Ed Morrison |
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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.
If you are using a news reader, here is the link to syndicate this site:
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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.
Resource: Global Entrepreneurship Monitor
