open2012 fertility-entrepreneurship-ecosystem-down
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TRANSCRIPT
The State of Entrepreneurship in Portland, Oregon addresses why entrepreneurship matters, how Portland is doing in generating entrepreneurship and what might be done to stimulate additional entrepreneurial activity.
NCIIA 2012 Annual Conference – San Francisco
Cross Sectional – 51 Largest MSAs Longitudinal – 15 yrs VC funded firms Interviews - 25 In-Depth Surveys – 30 targeted & 119 additional Comparison Cities – Austin, Cincinnati,
Denver, Minneapolis, San Francisco, and Seattle
NCIIA 2012 Annual Conference – San Francisco
NCIIA 2012 Annual Meeting – San Francisco
NCIIA 2012 Annual Conference – San Francisco
Entrepreneurship drives job growth – 3% of new firms create nearly all new jobs
Creation of a portfolio of high-growth firms can lead to new economic clusters
NCIIA 2012 Annual Conference – San Francisco
Average Firm Size Small Firms per 1,000 Population Non-Employer Firms per 1,000 Population Percent Self-Employed College Attainment Creative Class Venture Capital Dollars per Capita
NCIIA 2012 Annual Conference – San Francisco
PDX Entrepreneurship Study - September 6, 2011
MSA PopulationAverage
Firm Size
Small Firms per
1,000 Population
Non-Employer Firms per
1000 Population
Percent Self-
EmployedCollege
AttainmentCreative
Class
Venture Capital
Investment $ per capita
Atlanta 5,261,296 16.1 22.4 86.0 11.8% 34.6% 7.6% 77Austin 1,592,590 16.2 21.1 82.5 11.8% 38.2% 11.0% 213Baltimore 2,663,805 16.4 21.9 69.8 9.4% 34.3% 9.3% 76Birmingham 1,108,672 17.4 20.8 69.7 11.2% 26.2% 5.2% 17Boston 4,492,338 18.5 23.9 74.8 10.8% 41.9% 10.5% 541Buffalo 1,126,513 17.3 20.2 47.8 7.8% 26.9% 5.5% 46Charlotte 1,646,431 17.7 23.3 74.4 10.2% 32.0% 6.6% 14Chicago 9,496,853 16.9 22.0 72.4 9.7% 33.0% 6.9% 44Cincinnati 2,143,824 18.9 18.9 61.4 9.2% 28.1% 7.0% 16Cleveland 2,094,885 17.3 22.6 64.8 9.5% 27.0% 6.1% 60Columbus 1,753,010 19.3 19.4 72.1 8.9% 32.8% 8.3% 12Dallas 6,153,474 18.6 19.0 80.2 10.5% 29.6% 7.3% 87Denver 2,453,393 14.7 26.7 84.8 11.9% 37.5% 9.0% 169Detroit 4,457,523 16.5 20.1 64.8 9.3% 26.5% 7.9% 19Hartford 1,186,485 18.5 21.6 66.5 9.6% 34.8% 8.2% 3Houston 5,597,958 18.5 18.1 77.6 10.7% 28.2% 7.2% 54Indianapolis 1,692,737 17.9 21.9 66.1 9.5% 31.8% 7.1% 44Jacksonville 1,297,813 14.8 24.2 67.5 10.3% 24.6% 5.2% NAKansas City 1,981,480 17.4 22.4 68.6 9.7% 31.9% 7.0% 20Las Vegas 1,827,655 20.8 19.1 67.1 8.9% 21.9% 4.6% 4Los Angeles 12,784,612 15.5 23.1 85.9 14.6% 29.9% 8.0% 135Louisville 1,232,304 17.8 20.8 68.5 9.0% 24.0% 5.0% 17Memphis 1,279,120 20.4 17.1 68.6 8.8% 24.7% 4.5% 16Miami 5,392,118 11.4 29.9 121.8 16.2% 29.5% 4.9% 10Milwaukee 1,543,378 19.7 21.5 53.6 8.7% 30.9% 7.0% 2Minneapolis 3,197,620 18.0 24.8 75.9 10.5% 37.6% 9.3% 141Nashville 1,520,160 18.4 21.3 87.2 11.9% 29.4% 6.3% 24New Orleans 1,109,411 15.4 22.5 80.3 13.0% 23.5% 5.5% 1New York 18,922,571 14.2 25.3 84.6 11.2% 35.2% 7.9% 94Oklahoma City 1,189,158 14.6 23.7 80.8 11.6% 26.4% 5.8% 12Orlando 2,028,669 16.1 25.2 82.7 12.0% 26.3% 6.6% 41Philadelphia 5,823,285 17.1 21.9 63.4 9.4% 32.1% 7.7% 93Phoenix 4,165,921 18.0 18.9 62.6 11.5% 26.5% 6.5% 49Pittsburgh 2,354,159 17.5 21.9 58.6 9.0% 28.7% 6.4% 62Portland 2,166,491 14.5 25.7 70.3 13.1% 33.3% 8.6% 69Providence 1,598,348 14.7 23.7 64.6 9.6% 28.0% 6.2% 25Raleigh-Cary 1,043,961 14.7 23.8 75.1 10.7% 41.5% 11.6% 243Richmond 1,211,101 16.3 22.7 62.4 9.3% 30.6% 6.7% 10Riverside 4,066,573 16.4 14.3 65.6 11.6% 19.0% 4.1% 0Rochester 1,032,488 18.2 19.6 59.4 8.9% 32.1% 8.1% 10Sacramento 2,082,186 15.1 19.5 69.9 11.8% 29.8% 8.2% 19St. Louis 2,805,465 17.4 21.8 61.7 9.2% 29.0% 7.0% 158Salt Lake City 1,095,362 17.1 25.7 73.8 10.2% 30.0% 7.3% 56San Antonio 1,984,921 17.8 17.2 72.2 10.1% 24.6% 5.3% 404San Diego 2,959,734 15.1 23.0 76.9 13.7% 34.2% 9.7% 1489San Francisco 4,216,125 15.8 24.8 85.7 13.5% 43.4% 11.8% 2473San Jose 1,786,355 19.9 22.1 69.7 10.7% 43.5% 17.2% 252Seattle 3,298,225 15.4 26.4 68.7 11.5% 36.4% 10.9% 22Tampa 2,715,273 13.9 23.8 75.6 12.6% 25.6% 5.7% 11Virginia Beach 1,659,679 16.0 20.2 52.9 8.1% 27.4% 7.0% 2Washington 5,302,295 17.2 22.8 81.3 10.0% 46.8% 13.8% 131
Mean 3,207,761 16.8 22.0 72.1 10.6% 31.0% 7.6% 151.7425th Percentile 1,531,769 15.4 20.2 65.2 9.3% 26.7% 6.1% 14.5075th Percentile 4,116,247 18.0 23.7 78.9 11.7% 34.2% 8.3% 93.75
Portland Rank 23 48 4 25 5 15 12 18
PDX Entrepreneurship Study - September 6, 2011
MSA PopulationAverage
Firm Size
Small Firms per
1,000 Population
Non-Employer Firms per
1000 Population
Percent Self-
EmployedCollege
AttainmentCreative
Class
Venture Capital
Investment $ per capita
Atlanta 5,261,296 16.1 22.4 86.0 11.8% 34.6% 7.6% 77Austin 1,592,590 16.2 21.1 82.5 11.8% 38.2% 11.0% 213Baltimore 2,663,805 16.4 21.9 69.8 9.4% 34.3% 9.3% 76Birmingham 1,108,672 17.4 20.8 69.7 11.2% 26.2% 5.2% 17Boston 4,492,338 18.5 23.9 74.8 10.8% 41.9% 10.5% 541Buffalo 1,126,513 17.3 20.2 47.8 7.8% 26.9% 5.5% 46Charlotte 1,646,431 17.7 23.3 74.4 10.2% 32.0% 6.6% 14Chicago 9,496,853 16.9 22.0 72.4 9.7% 33.0% 6.9% 44Cincinnati 2,143,824 18.9 18.9 61.4 9.2% 28.1% 7.0% 16Cleveland 2,094,885 17.3 22.6 64.8 9.5% 27.0% 6.1% 60Columbus 1,753,010 19.3 19.4 72.1 8.9% 32.8% 8.3% 12Dallas 6,153,474 18.6 19.0 80.2 10.5% 29.6% 7.3% 87Denver 2,453,393 14.7 26.7 84.8 11.9% 37.5% 9.0% 169Detroit 4,457,523 16.5 20.1 64.8 9.3% 26.5% 7.9% 19Hartford 1,186,485 18.5 21.6 66.5 9.6% 34.8% 8.2% 3Houston 5,597,958 18.5 18.1 77.6 10.7% 28.2% 7.2% 54Indianapolis 1,692,737 17.9 21.9 66.1 9.5% 31.8% 7.1% 44Jacksonville 1,297,813 14.8 24.2 67.5 10.3% 24.6% 5.2% NAKansas City 1,981,480 17.4 22.4 68.6 9.7% 31.9% 7.0% 20Las Vegas 1,827,655 20.8 19.1 67.1 8.9% 21.9% 4.6% 4Los Angeles 12,784,612 15.5 23.1 85.9 14.6% 29.9% 8.0% 135Louisville 1,232,304 17.8 20.8 68.5 9.0% 24.0% 5.0% 17Memphis 1,279,120 20.4 17.1 68.6 8.8% 24.7% 4.5% 16Miami 5,392,118 11.4 29.9 121.8 16.2% 29.5% 4.9% 10Milwaukee 1,543,378 19.7 21.5 53.6 8.7% 30.9% 7.0% 2Minneapolis 3,197,620 18.0 24.8 75.9 10.5% 37.6% 9.3% 141Nashville 1,520,160 18.4 21.3 87.2 11.9% 29.4% 6.3% 24New Orleans 1,109,411 15.4 22.5 80.3 13.0% 23.5% 5.5% 1New York 18,922,571 14.2 25.3 84.6 11.2% 35.2% 7.9% 94Oklahoma City 1,189,158 14.6 23.7 80.8 11.6% 26.4% 5.8% 12Orlando 2,028,669 16.1 25.2 82.7 12.0% 26.3% 6.6% 41Philadelphia 5,823,285 17.1 21.9 63.4 9.4% 32.1% 7.7% 93Phoenix 4,165,921 18.0 18.9 62.6 11.5% 26.5% 6.5% 49Pittsburgh 2,354,159 17.5 21.9 58.6 9.0% 28.7% 6.4% 62Portland 2,166,491 14.5 25.7 70.3 13.1% 33.3% 8.6% 69Providence 1,598,348 14.7 23.7 64.6 9.6% 28.0% 6.2% 25Raleigh-Cary 1,043,961 14.7 23.8 75.1 10.7% 41.5% 11.6% 243Richmond 1,211,101 16.3 22.7 62.4 9.3% 30.6% 6.7% 10Riverside 4,066,573 16.4 14.3 65.6 11.6% 19.0% 4.1% 0Rochester 1,032,488 18.2 19.6 59.4 8.9% 32.1% 8.1% 10Sacramento 2,082,186 15.1 19.5 69.9 11.8% 29.8% 8.2% 19St. Louis 2,805,465 17.4 21.8 61.7 9.2% 29.0% 7.0% 158Salt Lake City 1,095,362 17.1 25.7 73.8 10.2% 30.0% 7.3% 56San Antonio 1,984,921 17.8 17.2 72.2 10.1% 24.6% 5.3% 404San Diego 2,959,734 15.1 23.0 76.9 13.7% 34.2% 9.7% 1489San Francisco 4,216,125 15.8 24.8 85.7 13.5% 43.4% 11.8% 2473San Jose 1,786,355 19.9 22.1 69.7 10.7% 43.5% 17.2% 252Seattle 3,298,225 15.4 26.4 68.7 11.5% 36.4% 10.9% 22Tampa 2,715,273 13.9 23.8 75.6 12.6% 25.6% 5.7% 11Virginia Beach 1,659,679 16.0 20.2 52.9 8.1% 27.4% 7.0% 2Washington 5,302,295 17.2 22.8 81.3 10.0% 46.8% 13.8% 131
Mean 3,207,761 16.8 22.0 72.1 10.6% 31.0% 7.6% 151.7425th Percentile 1,531,769 15.4 20.2 65.2 9.3% 26.7% 6.1% 14.5075th Percentile 4,116,247 18.0 23.7 78.9 11.7% 34.2% 8.3% 93.75
Portland Rank 23 48 4 25 5 15 12 18
Interview results confirm Expert survey – 84% yes Open survey – 79% yes
NCIIA 2012 Annual Conference – San Francisco
18th of 51 VC investment per capita 189 Oregon companies received VC over 15
years – more than half still in operation 5,000 jobs at these companies today Recent VC activity growing
NCIIA 2012 Annual Conference – San Francisco
Funding Human resources Business and tax environment
NCIIA 2012 Annual Conference – San Francisco
PDX Entrepreneurship Study - September 6, 2011
Index of Entrepreneurship Index of Entrepreneurship IndicatorsIndicators
Support existing organizations:◦Educating entrepreneurs on business
and funding success◦Engaging creative, young, educated
talent in PDX◦Identifying and supporting possible
gazelles◦Developing a larger pool of angel
investors
NCIIA 2012 Annual Conference – San Francisco
Draw in out of state resources:◦Buyers of traded sector goods◦Suppliers of venture capital
Continue to develop PDX as a great place to live, work and learn
Use resources and know-how to leverage existing organizations already devoted to improving entrepreneurship
Be entrepreneurial in trying new initiatives
NCIIA 2012 Annual Conference – San Francisco
Promote culture supportive of entrepreneurship:◦Continually streamline process of
starting a business◦Communication of available resources
for entrepreneurs◦Tracking and reporting of
entrepreneurship indicators◦Using real estate expertise to develop
physical spaces for entrepreneurs
NCIIA 2012 Annual Conference – San Francisco
NCIIA 2012 Annual Conference – San Francisco
Are there parallels between the Portland study and your city?
What works and what doesn’t work regarding programs designed to generate entrepreneurial start-ups and economic development?
Why should we care about the entrepreneurship eco-systems around our universities?