Fostering Innovation at the University Level Business Future of the Americas, Patricia G. Greene, PhD, MBA Provost

Transcripción

1 Fostering Innovation at the University Level Business Future of the Americas, 2007 Patricia G. Greene, PhD, MBA Provost Greene & Hacker. 2004

2 Driving Questions Who are the entrepreneurs? Potential Aspiring Growing What is an entrepreneurial environment? What do entrepreneurs need to succeed? From the University From the Chamber of Commerce

3 Connect the First Dots Entrepreneurship Creation of Value Innovation Invention Creativity Imagination

4 Entrepreneurship at Babson Entrepreneurial Mindset Opportunity Identification Resource Organization Leadership Overall Resulting in the Creation of Value

5 Framework for Entrepreneurship Development Propensity to become Entrepreneurs? NO Policies/Programs on cultural or behavioral issues (e.g. K-12 education) Ye s Knowledge & skills for entrepreneurship? Ye s Succeeding as Entrepreneurs? NO NO Policies/Programs providing preparation to be Entrepreneurs (e.g. adult training) Policies/Programs supporting Business Growth (e.g. financing, marketing) ource: Adapted from J. Kayne, 2000 Ye s Entrepreneurial Economy

6 Connecting Resources Technological Capital Human Capital Physical Capital Pretend All the Dots Are Connected! Financial Capital Social Capital Organizational Capital

7 Human Capital Traditional approach: Education and Experience Plus... Entrepreneurial Mindset Propensity towards risk Financial knowledge and business savvy Growth orientation

8 Social Capital Social networks connect to other resources Ventures with less diverse networks grow more slowly Gendered differences are in network membership & use

9 Organizational Capital Systems, processes and culture Routinization of innovation Tolerance for failure

10 Financial Capital Full array of funding options Formal Informal Full awareness and understanding of funding options By Entrepreneurs By Service Providers Full acceptance that not all money is good money

11 GEM Research from the University: GEM Country Location Financial Sponsor Argentina Brazil Chile Colombia Center for Entrepreneurship IAE Management and Business School IAE Management and Business School HSBC Private Equity Latin America The Universidad national Austral level of entrepreneurial Banco activity Galicia has a statistically significant association with the national level of economic IBQP - Instituto Brasileiro da Qualidade growth e Produtividade no Paraná Universidad del Desarrollo Universidad Adolfo Ibanez- UAI Universidad del Norte Universidad de los Andes Universidad ICESI Pontificia Universidad Javeriana Cali SEBRAE- Serviço Brasileiro de Apoio às Micro e Pequenas Empresas Instituto Euvaldo Lodi no Parana - IEL/PR Grupo Santander Chile Universidad del Desarollo Ecuador Peru Uruguay Escuela Superior Politécnica del Litoral Escuela de Postgrado en Administración de Empresas (ESPAE) Centro de Desarrollo Emprendedor, Escuela de Administración de Negocios para Graduados (ESAN) Universidad de Montevideo Escuela Superior Politécnica del Litoral (ESPOL University) Petróleos del Pacífico (PACIFPETROL S.A.) Cámara de Comercio de Guayaquil MARKET ECUAVISA Escuela de Administración de Negocios para Graduados (ESAN) Deltron Computer Wholesalers S.A.

12 GEM Findings 2006 Nascent Entrepreneurial Activity (%) New Business Owners (%) Early Stage Entrepreneurial Activity (TEA) (%) Established Business Owners (%) # of Respondents (18-64) Argentina ,755 Brazil ,971 Chile ,007 Colombia ,000 Peru ,845 Uruguay ,618 Source: Global Entrepreneurship Monitor Babson College and London Business School.

13 Research from the University: Diana Project To investigate supply of & demand for equity capital from women business owners To learn about growth models in female-led ventures International Findings Important drivers of growth (Minnitti et al., 2005) Spotty documentation of women s participation (often aggregated) Variation in motivation

14 Source: Clearing the Hurdles: Women Building High Growth Businesses. Diana: The Implications..for All Wealth Creation- Lack of equity for women-led ventures diminishes the opportunity for women to grow their businesses and create wealth Competitiveness- Lack of equity for women-led ventures may limit growth and diffusion of innovations, job creation and economic contributions to the US economy Investment Opportunities- Lack of investment in women-led ventures may mean the venture community is missing out the chance to fund and receive returns from good investments

15 Innovation from the Chamber 1. Policy work goes both ways 2. Chambers act as glue 3. Messaging and celebrating 4. Sharing best practices 5. Assess, assess, assess the entrepreneurial environment

16 Why Creativity, Imagination, Innovation, and Entrepreneurship? innovation has always been the way people solved the great challenges facing society. Greene & Hacker Source: National Innovation Initiative Final Report. Council on Competitiveness. Dec. 2004