This document summarizes a case study about entrepreneurship in Montana. It finds that successful entrepreneurs in Montana have benefited from mentors and investors like those at RightNow Technologies. While support organizations are less dense than in larger areas, entrepreneurs report that the willingness to travel and a small network helps connect people. Both long-time residents and newcomers choose to start businesses in Montana for its high quality of life. The implications are to identify local success stories to help others, map support resources both locally and in nearby areas, and recognize the strengths of the region rather than compare to larger tech hubs.
Background: Berkeley and Silicon Valley
Conducted case studies in Kansas City, St. Louis, Indianapolis.
It is amazing to find how entrepreneurship ecosystem works differently in each place
Since last year, with help from Mayor Burke, we studied Chattanooga TN, whose city population is 173K and metro population is a little over half million
This year, my colleague Emily and I have partnered with Montana High Tech Business Alliance, Montana Technology Enterprise Center, and University of Montana, Missoula
And have been researching a couple of ecosystems in Montana
We have intensively sampled two hubs in Montana, Bozeman and Missoula, and but also intentionally included other surrounding areas to get a little more rural perspective
First, each of Bozeman and Missoula has vibrant ecosystem
I’m not saying that you have to find a billion dollar company
$100 million or even $10 million business is fine
ESOs in St. Louis = 21 organizations established since 2010
New report from U of Tampa says they identified 64 support organizations in this area
Mayors. There are bigger and more resourceful governments, such as state and federal governments
However, you may be in the best position because you are inherently closest to entrepreneurs who seek local support and connections
Your power to convene different local stakeholders and to discuss problems and solutions is enormous
