SME - Entrepreneurship Ecosystems-Tallinn

ENTREPRENEURSHIP ECOSYSTEMS
Laura IH Bennett
lauraihbennett.com
TechTown, Tallinn, Estonia

4th May 2017
04.05.2017
SCHEDULE
10:00 – 10:05 Introduction from Tracey and Toby

10:05 – 10:25 Alison: reflections on yesterday
10:25 – 10:30 Tracey: refresher on vision & problem statement
10:30 – 11:00 Laura: an overview of entrepreneurship ecosystems
11:00 – 11:30 Ecosystem-in-a-box: design your perfect ecosystem!
11:30 – 11:50 Present your next steps and actions to take forward
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AIMS OF THIS SESSION
1. To consolidate your vision for your ecosystem
2. To come away with actionable steps forward to help realise your vision
… Not forgetting the Tech Town themes:
Understanding the digital economy

Building a community
The role of startups
The role of places & spaces
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A strong ecosystem can help more businesses grow by…
Creating the conditions for more startups

Helping existing companies to scale
Increase the perception of what’s possible (create aspiration)
Attracting investment to a cluster
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A strong ecosystem can help more businesses grow by…
Creating the conditions for more startups

Helping existing companies to scale
Increase the perception of what’s possible (create aspiration)
Attracting investment to a cluster
Who are the actors, and what does growth look like to them?
Entrepreneurs: investment, exporting…

Educators: Higher rates of employment…
Investors: More & better returns…
City policy-makers: inward investment, branding, profile… 4
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VISION & IMPACT
As policy-makers, what is your vision for your ecosystem?
What do you want your town / cluster to look like in 3 - 5 years

time?
What role will YOU play in making that vision come to life?
Driven by PLACE more than by entrepreneurs’ individual aims
“Our city will be better because of XYZ”
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VISION & IMPACT
As policy-makers, what is your vision for your ecosystem?
What do you want your town / cluster to look like in 3 - 5 years

time?
What role will YOU play in making that vision come to life?
Driven by PLACE more than by entrepreneurs’ individual aims
“Our city will be better because of XYZ”
How do you assess if you’re going in the right direction?
Impact measurement: where are you starting from?

Some outcomes take 5+ years to achieve
Avoid “ownership” of success: not a zero-sum game 6
Theory of Change: qualitative & quantitative
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COMMUNICATING SUCCESS
Celebrate the “quick wins” often and early
Homegrown success stories on repeat

Inspirational success stories from nearby larger clusters
Legitimise success and increase people’s ambitions
Increase pride in your local cluster
How are you communicating this?
Simple, visual communication

Landing page, slide decks, infographics
Clear & easy to understand vision
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ECOSYSTEM-IN-A-BOX
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GUIDING PRINCIPLES OF
The important principles to remember:

Controlled by: everyone (and no one)
Owned by: everyone (and no one)
Self-perpetuating without constantly requiring new inputs
Self-sustaining in the right conditions / culture
Hardware within an ecosystem:

Accelerators, incubators, startup weekends, financial incentives
etc.
Software within an ecosystem:

leadership, dialogue, discussion, peer-to-peer support,
celebrating etc.
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ECOSYSTEM MAP
Professor Daniel J. Isenberg

Babson College, Boston
Babson Entrepreneurship &

Ecosystem Project
”An ecosystem influences the

flow of resources available to
businesses. Ideally you want high
potential ventures to be able to
quickly access the right resources
for them, and for those resources
to be high quality and
appropriate.” 10
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MARKETS CULTURE
e.g. early adopters for prototypes, referring e.g. tolerance of risk and mistakes, positive
customers, supply chains, internationalisation social status of entrepreneur
Ease of exporting? Local / regional markets? Meetups? Role of media? Opinion leaders?
SUPPORTS HUMAN CAPITAL

e.g. legal / accounting advisers, e.g. skilled and unskilled labour, serial
telecommunications / transportation entrepreneurs, entrepreneurship training
infrastructure, entrepreneurship orgs programmes
Incubators? Accelerators? Business Universities? Internships? Apprenticeships?

programmes?
FINANCE POLICY
e.g. business angels, venture capital, micro e.g. regulatory framework incentives, existence
loans, banking, High Net Worth Individuals, of public research institutes, taxes
public grants
National / local public sector engagement?
Bank loans? VC availability? Public grants?
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ECOSYSTEM-IN-A-BOX
Your on-hand experts…

1. What is your problem statement? - Toby: policy, ecosystems,
acceleration, investment.
2. Get creative! - Tracey: place-making, policy,
1. What does your ideal ecosystem look like? incubation, co-working.
2. Who are the main actors? - Alison: incubation,
3. What does growth look like to them? acceleration, policy,
4. How do they interact? partnerships.
5. What are their needs / ambitions? - Laura: community building,
ecosystems, startup support.
3. How will YOU act to help you move closer to your ideal ecosystem?
4. Present back to the room, using whatever props you like!
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CLOSING REMARKS
Build on unique assets available in your local cluster

Celebrate successes and communicate them relentlessly
Get quick wins to help change the dialogue
Foster the involvement of all stakeholders (does the ecosystem help

them?)
Look at examples of best practice from elsewhere and import what works
Have a vision of what an ideal ecosystem looks like, communicate

that clearly, and show how your initiatives, programmes and policies
will help move your cluster in the right direction.
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THANK YOU!
@lauraihbennett

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ENTREPRENEURSHIP ECOSYSTEMS

TechTown, Tallinn, Estonia

10:00 – 10:05 Introduction from Tracey and Toby

AIMS OF THIS SESSION

1. To consolidate your vision for your ecosystem

… Not forgetting the Tech Town themes:

Understanding the digital economy

A strong ecosystem can help more businesses grow by…

Creating the conditions for more startups

A strong ecosystem can help more businesses grow by…

Creating the conditions for more startups

Entrepreneurs: investment, exporting…

VISION & IMPACT

As policy-makers, what is your vision for your ecosystem?

What do you want your town / cluster to look like in 3 - 5 years

VISION & IMPACT

As policy-makers, what is your vision for your ecosystem?

What do you want your town / cluster to look like in 3 - 5 years

How do you assess if you’re going in the right direction?

Impact measurement: where are you starting from?

Celebrate the “quick wins” often and early

Homegrown success stories on repeat

How are you communicating this?

Simple, visual communication

The important principles to remember:

Hardware within an ecosystem:

Software within an ecosystem:

Professor Daniel J. Isenberg

Babson Entrepreneurship &

”An ecosystem influences the

SUPPORTS HUMAN CAPITAL

Incubators? Accelerators? Business Universities? Internships? Apprenticeships?

Your on-hand experts…

4. Present back to the room, using whatever props you like!

Build on unique assets available in your local cluster

Foster the involvement of all stakeholders (does the ecosystem help

Have a vision of what an ideal ecosystem looks like, communicate

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