1 Agenda Kauffman’s strategy for entrepreneurship Judges’ recommendations for final proposals Group Q & A Lunch

2 Overview June 2003 A Blueprint for Future Entrepreneurship Initiatives

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4 Key factors contributing to strategy The context: 150+ interviews Extensive research review 5 key factors bubbled to the top Key factors > Validation of assumptions > Strategy …establishing a culture of evidence-based decision making

5 Implications for Kauffman strategy Job creation: Focusing our resources on firms under 20 employees, especially business starts and growers, targets the top job-producing sector.

6 Implications for Kauffman strategy Job creation: Focusing our resources on firms under 20 employees, especially business starts and growers, targets the top job-producing sector. Entrepreneurial success: Closing the gap between the state of knowledge and the state of practice presents a challenge and opportunity.

7 Implications for Kauffman strategy Job creation: Focusing our resources on firms under 20 employees, especially business starts and growers, targets the top job-producing sector. Entrepreneurial success: Closing the gap between the state of knowledge and the state of practice presents a challenge and opportunity. Rapidly expanding segments: Women, minority, and social entrepreneurs are rapidly expanding segments with promising potential.

8 Key Factor #4 The role of intermediary organizations Intermediary: Any individual, firm or organization interfacing with entrepreneurs and furthering their development in any way Entrepreneurship organizations Incubators Economic Development offices Entrepreneurship centers Chambers of Commerce Small Business Development Centers Lawyers Accountants Trade associations Consultants Industry training institutes Business schools Bankers Community colleges Universities 4-year colleges Engineering schools

9 Implications for Kauffman strategy Job creation: Focusing our resources on firms under 20 employees, especially business starts and growers, targets the top job-producing sector. Entrepreneurial success: Closing the gap between the state of knowledge and the state of practice presents a challenge and opportunity. Rapidly expanding segments: Women, minority, and social entrepreneurs are rapidly expanding segments with promising potential. Intermediaries: The potential to significantly increase reach and impact through intermediaries warrants further research.

10 Implications for Kauffman strategy Job creation: Focusing our resources on firms under 20 employees, especially business starts and growers, targets the top job-producing sector. Entrepreneurial success: Closing the gap between the state of knowledge and the state of practice presents a challenge and opportunity. Rapidly expanding segments: Women, minority, and social entrepreneurs are rapidly expanding segments with promising potential. Intermediaries: The potential to significantly increase reach and impact through intermediaries warrants further research. Entrepreneur learning: New learning technologies, combined with the other factors, present a historic confluence and opportunity.

11 Implications for Kauffman strategy Job creation: Focusing our resources on firms under 20 employees, especially business starts and growers, targets the top job-producing sector. Entrepreneurial success: Closing the gap between the state of knowledge and the state of practice presents a challenge and opportunity. Rapidly expanding segments: Women, minority, and social entrepreneurs are rapidly expanding segments with promising potential. Intermediaries: The potential to significantly increase reach and impact through intermediaries warrants further research. Entrepreneur learning: New learning technologies, combined with the other factors, present a historic confluence and opportunity.

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13 Working definition of “Entrepreneur” An individual engaged in the process of starting and growing one’s own business or idea

14 Entrepreneurial activity Program goals Increase the number and success rate of those individuals starting and growing their own businesses or ideas Why? Provide jobs and opportunities for individuals and communities Create a vibrant economy and global competitiveness Produce self-sufficient individuals who give back to society

15 Entrepreneurial activity Primary means to achieving goals

16 Primary means to achieving goals Entrepreneurial activity Research the formulas for success and attributes of successful entrepreneurs Mix Web portal Learning programs Intermediaries Fuel entrepreneurs with Kauffman programs that provide expertise, education and support

17 Vision Accelerate entrepreneurship through the timely delivery of world-class, innovative, research-based programs and services Entrepreneurial activity Mix Web portal Learning programs Intermediaries Fuel entrepreneurs with Kauffman programs that provide expertise, education and support Research the formulas for success and attributes of successful entrepreneurs

18 Kauffman Campus Initiative

19 Judges’ recommendations for final proposals Leaps, not incremental change Tangible content assets Faculty engagement across campus Well-conceived program implementation Measurable outcomes Shared knowledge A leveraged and sustainable financial plan

20 Group Q & A