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NCOE Report Says Entrepreneurs Healthy for Economy

November 30, 2001
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Building Entrepreneurial Networks, a major report on how and why networks of entrepreneurs nurture economic growth in communities across the country, was released Wednesday by the National Commission on Entrepreneurship (NCOE). 



To illustrate the importance of entrepreneurial networks, NCOE’s seventh report profiles five organizations in Idaho, North Carolina, Oklahoma, Pennsylvania and Texas that have succeeded in developing unique entrepreneurial networks. 



The report notes that regions which have developed strong entrepreneurial economies tend to possess several key ingredients — well-organized local networks along with strong universities, access to equity capital, and an advanced public infrastructure. Similarly, regions with strong networks tend to have high rates of new start-ups and fast-growing companies. 



The report also suggests local entrepreneurs and policymakers working to spur home-grown entrepreneurship should consider policies and initiatives to develop and support entrepreneurial networks. Case studies are provided for the five organizations which have developed model entrepreneurial networks:

  • Council for Entrepreneurial Development, Research Triangle Park, NC: Highlights how new entrepreneur support networks are created and evolve over time. 
  • Ben Franklin Technology Partners of Southeastern PA (BFTP/SEP): Highlights how existing economic development organizations can evolve to embrace new missions that catalyze entrepreneurial networks. 
  • Eastern Idaho Forum for Information Technology (EIFIT): Examines the challenges of networking in rural regions. 
  • Tulsa (OK) Metro Chamber of Commerce: Reviews how existing business networks can embrace new forms of networking for entrepreneurs.
  • IC2 Institute of The University of Texas at Austin: Examines how a single leader and organization can help create a host of new institutions that link and support entrepreneurs. 

NCOE’s full report is available at: http://www.ncoe.org/research. For a hard copy of Building Entrepreneurial Networks, please contact NCOE’s Ken Berlack at 202-434-8066. 



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