Best Practices In State Initiatives Spurring Market-Based Economic Development Now Available

Details of the best practices in state initiatives
spurring entrepreneurship and demonstrating market-based results are now
available in the conference proceedings from Putting It Together: The Role
of Entrepreneurship in Economic Development
(http://www.sba.gov/advo/research/).

The conference held in March featured
nineteen state entrepreneurship and economic development finalists whose
presentations focused on how to create environments where entrepreneurship
and economic development can flourish.

“We are excited about making the details of the best practices in state
economic development available to policy makers and the public,” said Dr.
Chad Moutray, Chief Economist for the Office of Advocacy. “These
presentations provide a blueprint for others to follow and can help all
regions of the country jump-start their local economic development.”

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MSU Dean Richard Semenik conveyed the success of the innovative entrepreneurial climate in Bozeman, MT:

(Text in Part 1
PowerPoint in Part 2)

"Located as they are very near the geysers of Yellowstone,
students, scientists, and entrepreneurs in Montana programs
are taking advantage of the state’s unique features
to develop the rural Montana economy. The Alderson
Program in Entrepreneurship has a positive impact on
both entrepreneurs and students, as students work side
by side with entrepreneurial science and technology
startups to provide research on key business issues.

The
program also has a positive effect on rural economic
development, increasing the probability that the startups
will succeed. In the Center for Entrepreneurship for the
New West http://www.montana.edu/cob/centernewwest/ and TechRanch http://www.techranch.org , students enrolled in a course on
the entrepreneurial experience also collaborate with
entrepreneurs developing their businesses and with
Montana State University scientists who are assessing
the commercial potential of their science http://www.montana.edu/wwwvr/index.html .

The result has
been an emerging culture of entrepreneurship—and the
growth in the area of firms taking advantage of scientific
advances in biotechnology and genetics, thermal biology,
physics, and bio-films engineering. To date, at least 32
companies with whom students have worked have added
more than 220 jobs to the Montana economy."

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Moutray released the proceedings at the 20th anniversary celebration of the
Maryland Technology Enterprise Institute at the University of Maryland.
The Maryland Technology Enterprise Institute’s “Maryland Industrial
Partnership Program” won the conference award for Best Practice in
technology transfer programs.

The conference and proceeding were co-sponsored by the Office of Advocacy,
the Ewing Marion Kauffman Foundation, the Council of State Governments, and
the National Lieutenant Governors Association. Copies of the proceedings
can be downloaded by visiting the Office of Advocacy web site at
http://www.sba.gov/advo.

The Office of Advocacy, the “small business watchdog” of the government,
examines the role and status of small business in the economy and
independently represents the views of small business to federal agencies,
Congress, and the President. It is the source for small business
statistics presented in user-friendly formats and it funds research into
small business issues.

Contact:

John McDowell, (202) 205-6941

[email protected]

SBA Number: 05-25 ADVO

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Created by Congress in 1976, the Office of Advocacy of the U.S. Small
Business Administration (SBA) is an independent voice for small business
within the federal government. Appointed by the President and confirmed by
the U.S. Senate, the Chief Counsel for Advocacy directs the office. The
Chief Counsel advances the views, concerns, and interests of small business
before Congress, the White House, federal agencies, federal courts, and
state policy makers. Economic research, policy analysis, and small
business outreach help identify issues of concern. Regional Advocates and
an office in Washington, DC, support the Chief Counsel’s efforts. For more
information on the Office of Advocacy, visit http://www.sba.gov/advo, or call
(202) 205-6533.