1. Erik R. Pages
EntreWorks Consulting
Appalachian Funders Network
March 28, 2012

2.  Entrepreneur Focused: Meeting entrepreneurs
where they are; responsive to their demand
 Pipeline Approach: Wide and deep mouth of the
pipeline; Process for moving through the pipeline
 Not Another Program: Holistic; interconnected•
 Collaboration among Resource Providers: Offers
“no wrong door” and leads to “hard referrals”
 Hub: Someone making Connections; “Network
Weaver”
 Regionally Asset-Based: Connected to
Community and Regional Assets
(Source: Deborah Markley, RUPRI Center for Rural Entrepreneurship)
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Consulting March 28, 2012 2

3. PROSPER:
INFORM: GROW: Build
START: Spur Create
Train "Better" "Better"
New E's Wealth &
E's Businesses
Jobs
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Consulting March 28, 2012 3

4.  Rural start-ups are prevalent and do not look
much different from start-ups located in other
parts of the US.
 Most firms – both urban and rural – start small
and stay small.
◦ Rural firms are more persistent. They tend to have
better survival rates than other firms.
◦ But, survival does not equal prosperity. These persistent
firms tend to grow slower, create fewer jobs, and
generate less spin-off benefits than their urban
counterparts.
 Rural firms that do achieve fast growth tend to
lose any distinctive characteristics.
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Consulting March 28, 2012 4

5.  Typical Services:  Growth Services:
◦ Coach Start-Ups ◦ Expand Markets (e.g.
exports)
◦ Develop Biz Plans
◦ Stimulate growth sectors
◦ Make Traditional Loans (e.g. clusters)
◦ Help Lower Costs ◦ Link to Global Networks
 Incubators (e.g. accelerators)
 Tax Credits ◦ Coaching/Mentoring
 Training Subsidies ◦ Provide equity finance
(e.g. CDFIs, angels, etc.)
◦ Business Model
Innovation
What We Do Now: What We Should Do:
Incubate! Accelerate!
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Consulting March 28, 2012 5

6.  Accelerators
◦ Tend to be for-profit
◦ Work via Boot Camp Model
◦ Start Fast, Fail Fast
 Examples
◦ Tech Stars (www.techstars.com)
◦ Y Combinator (www.ycombinator.com)
◦ DreamIt Ventures (www.dreamitventures.com)
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7.  The Business Innovation Factory Genome
(www.businessinnovatonfactory.com)
◦ COLLABORATE
 Connect across sectors and disciplines
◦ INSPIRE
 Link entrepreneurs to new possibilities every day
◦ TRANSFORM
 Tweaks Won’t Do
 Experiment daily to create a wholly new vision
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Consulting March 28, 2012 7

8.  Develop and exploit new tools for financing
◦ Angel funds
◦ CDFIs
◦ Crowdfunding
 Better use of underutilized capital pools
◦ Revolving Loan Funds (EDA, USDA)
◦ SBA 504 Loans
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Consulting March 28, 2012 8

9.  Often used to refer to general approach that
focuses on nurturing “home-grown” businesses.
 In reality, it refers to deployment of a targeted set
of services focused on business growth.
◦ Focused on “Second Stage” Firms (those with 10-99
employees)
 These include:
◦ Information
◦ Infrastructure
◦ Connections
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Consulting March 28, 2012 9