Michigan ranked 21st in the U.S. with 82 deals, and 25th in amount of VC investment ($83 million) in 2011.
Figure 9.1
Total U.S. Investments
2007
2008
2009
Deals
4.124
4.111
3.065
3.526
3.673
Amount Invested in Billions USD
30.8
30.5
19.7
23.3
28.4
2007-2011
in business is necessary to meet the needs of consumers. Business owners and teams must adjust to these demographic changes, as failure to do so could lead companies in unsuccessful revenue growth. As CEI Director, Kevin McCurren, mentions in Diversifying the Entrepreneurial Club, by “expanding the reach of entrepreneur programs‌ the potential of undiscovered ideas,â€? is greatly enhanced. Noting the lack of diversity in many of the events entrepreneurs frequent, it is important to actively engage the community to participate in learning and networking events. Beyond that, mentorship and incubators directed towards a diverse membership will provide more access points for individuals underrepresented in
2010
entrepreneurial ecosystems. More importantly, these types of initiatives help to bring new business ideas, which augment the competitiveness of a region in the global market place. Fundamentally important, a diverse and vibrant business community that cooperates to ignite new ventures and share business lessons will continuously challenge its members in hopes of maintaining its competitive edge.
2011 PricewaterhouseCoopers National Venture Capital Association MoneyTree Report, Data: Thomson Reuters
of a region, which can become a competitive advantage on a global and interconnected market place. A focus on the entrepreneurial soul of a region will aid communities as they embark on a new era of entrepreneurship.
Holistically, alchemy is not an option for communities wishing to maintain a competitive edge in a volatile business climate. It is therefore important that West Michigan balances the essentials of successful entrepreneurial ecosystems. Through these actions, a community has the potential to develop the culture
SPRING 2012
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