Cultivating Culture The foundational essential element to a successful entrepreneurial ecosystem is a culture that is positive, accepting of risk and failure, and which pioneers and rewards the spirit of entrepreneurial thinking. West Michigan was recently described as having entrepreneurial “strut,” and insuring that this can-do culture continues to grow and thrive is dominant in the CEI strategic plan. West Michigan entrepreneurs, as well as those who benefit from the value they create, must have an enriching, enriching, and embracing culture enabling the formation, building, and adaptation of ideas into viable business opportunities. Entrepreneurs, at heart, are business people. They have a drive and a knack for creatively solving problems to bring them closer to their goals. CEI is committed to working with business and community leaders, regional organizations providing resources, and academic entities, to ensure that entrepreneurs can continue to do business easily, without added political, economical or social barriers. The result is an improved climate in which businesses can be built and deals can be made efficiently and effectively, keeping entrepreneurs resolute on adding value for the community at large. Encouraging Talent We often think of careers in terms of skill-based professions: firefighter, engineer, or teacher. Traditionally, entrepreneurship is not viewed as a realistic career option. CEI is committed to empowering learners who are seeking to understand entrepreneurship as an exciting and feasible career option. It all starts with a mindset. Ideas in today’s knowledge economy are open sourced. It’s the ability to execute on the ideas that provides the competitive advantage. Learning how to execute—and continually adapting to new information— happens best through applied education. CEI engages actively in the exploration and development of entrepreneurial talent at any age or stage of understanding. We refer to this as “Kindergarten to Entrepreneur” (K to E). CEI provides nascent through serial entrepreneurs with learning platforms such as courses and workshops, competitive business planning events, coaching, and mentoring. CEI also works to educate the community at large about entrepreneurship, and perhaps most importantly, encourages entrepreneurs to “know thyself.” Tying back to culture, CEI also wants to make sure strong entrepreneurial talent is recognized and appreciated, as there is no better role model or teacher than shared experience.
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en-tre-pre-neur (ahn-truh-pruh-nur)
One who undertakes economic risk to create a new enterprise that will bring new products, services, & technologies to a market to generate value.
Providing Advisory Resources West Michigan has no shortage of great, innovative ideas. People from every walk of life are creating concepts for the new products and services that solve a market need. The trick is turning these into business opportunities, and finding the right entrepreneurial resources to help avoid the stalls and overcome the pitfalls that inevitably occur at various points in the process. As the paths to market and the experience of the entrepreneur vary widely from venture to venture, a one-size-fits-all approach to providing advisory support resources is not possible. The third essential element of the CEI strategic plan is focused on making sure entrepreneurs have the right resource at the right time to continually hone their skills, lower the cost business, and make the all important right connection. CEI is committed to acting as an agile hub for a collaborative, coordinated, progressive and efficient “regional business acceleration” network. Even leveraging the advisory resources of the West Michigan community, many entrepreneurs will still face significant barriers to market due to their size and “start-up” status. CEI is further committed to collaborating with public and private business to create a regional network of influencers designed to help entrepreneurs access their markets. Accessing Capital Most would say that capital is the beginning and end of the entrepreneurial story. The fourth key element in the ecosystem of entrepreneurship is the availability of and access to capital. The availability of capital allows entrepreneurs to think big and work hard to deliver on their vision. CEI is aggressively pursuing regional interests by developing and maintaining a robust and accessible continuum of capital -- from grants to early stage seed to angel funding to venture capital to small business loans. Further, CEI works closely with capital-seeking entrepreneurs in preparation of their business plan and pitch. Lastly, CEI facilitates connections with investors that are right for the entrepreneur’s type of business and stage of development.