Developing a more Entrepreneurial Montana

Lured by the area’s rich research assets and a growing number of funding sources, entrepreneurs have moved here from places such as Louisville, Nashville and upstate New York.

Most surprisingly, according to a report from the Kauffman Foundation, the highest rate of entrepreneurship in America has already shifted to the 55-64 age group, with people over 55 almost twice as likely to found successful companies than those between 20 and 34.

"We were looking at companies that had the opportunity to grow and grow exponentially," said Tom White, a lender and relations specialist with the SBA, who organized Montana’s first class. "By getting a good cross section across the state, it was like planting small economic development seeds."

"For our economy to thrive in the 21st century, we must set about creating the next generation of entrepreneurs."

"If you can grow a company from one to 10 and then from 10 to 100, there’s a pretty good chance that company is going to keep its headquarters here."

"Communities looking to support an entrepreneurial ecosystem need to first and foremost have the will to do that, to have community buy-in broadly," said Thom Ruhe, director of entrepreneurship for the Ewing Marion Kauffman Foundation. That means endorsement from local government, investors, larger corporations and universities.

Students enrolled in Management 463, The Entrepreneurial Experience, gain practical management experience as they work in teams with a local company to apply their business skills and knowledge to solve real-world business issues.

Let’s take a look at each of these traits in a bit more depth at it relates to "teachability".

Dr. Tim Wilkinson, College of Business interim dean, said he wanted to bring in an entrepreneur to illustrate the possibilities that exist for entrepreneurial-minded students.

Entrepreneurship takes three forms: productive, unproductive, and destructive.