The path for entrepreneurs to grow their companies outside of well-developed entrepreneurial ecosystems like Silicon Valley is challenging. Most markets around the world do not look like Silicon Valley, and they never will. But there are other models to support new businesses. In transitioning markets (where entrepreneurs do not have much access to private sector financing), government officials, donors, and business leaders are experimenting with creative approaches to support the growth of entrepreneurs. Northeast Ohio, whose largest city is Cleveland, is one such community. During our time together in this course, we will be exploring some of these innovative approaches.
A massive intervention of government and donor resources in Northeast Ohio has been in place for over ten years. In that time, Northeast Ohio has experienced success (including job creation and follow-on funding) with alternative methods of financing startups, but it has not been easy. Yes, some progress has been made, but whether or not they've hit on ultimate success has yet to be determined. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government officials and donors typically are looking for shorter term success with their support programs which makes long-term support for entrepreneurship challenging.
During this course, we will hear from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs engaged with resources made available to them through a variety of programs and intermediary organizations. We have chosen to talk with many business people that are still in the process of developing their companies and whose ultimate success or failure is still to be determined.
In addition to learning about Cleveland's attempts to support entrepreneurship, you will also be hearing in the lectures from leaders in selected markets around the world including Greece, Vietnam, Tunisia, Argentina, Rwanda and China about how they are working to support the growth of start-up companies.
One of our goals is to learn from you how different communities around the world are approaching implementing strategies and methods to support businesses. Taking what we've learned from our examples in class, I will ask you to reflect on how to best grow entrepreneurship where you live. I am excited to use this global platform to create a dialogue where information flows in multiple directions.
Most MOOCs rebroadcast professors’ lectures, but this course will be different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length and will have more of the feel of an engaging documentary than a static classroom setting.
The Course Welcome and Overview video lays the foundation for the course and provides context for what we are calling the “Cleveland Case Study.” We’ll explore how my hometown of Cleveland, Ohio is working to support start-up companies with the help of government and philanthropy/donors working in conjunction with the private sector.
The Role of Government video lecture examines the role of government in an entrepreneurial ecosystem. You will learn how an entrepreneur from India developed a technology in a university lab and turned it into a medical device company in Cleveland with the support of government funding. As with all of lectures, you will also hear international perspectives on the topic, this time from Vietnam and Tunisia. In reviewing this lesson, consider the following questions. How can governments avoid bias? What is follow-on capital? What is government matching funds? How can both be used as tools to support startup initiatives? How can a government measure the success of its entrepreneurial support programs? What role does corruption play in government support?
Discuss: What kids of initiatives do you think government should support?•10 minutes
Discuss: How do governments support entrepreneurship in your region?•10 minutes
Discuss: How has your regional entrepreneurial ecosystem grown?•10 minutes
Discuss: What are the risks involved in government-funded entrepreneurship?•10 minutes
Discuss: How is success defined for government-funded entrepreneurial programs?•10 minutes
The Role of Philanthropy/Donors
Module 3•4 hours to complete
Module details
The Role of Philanthropy/Donors video lecture explores how foundations in Cleveland came together to form the The Fund for Our Economic Future (http://www.thefundneo.org/) to provide funding alongside government and the private sector to entrepreneurs. Consider the following questions when reviewing the materials. Why donors get involved in supporting entrepreneurs? How donors may differ from government and private investors? What are the challenges of maintaining donor interest in entrepreneurship over the long haul? What makes philanthropies decide to dedicate resources to entrepreneurship and economic development? What is donor fatigue and what causes it? How are the metrics of success for a philanthropy similar and different from those of the government/private sector? Are donors more or less risk tolerant than their government and private sector counterparts? What role can corporations play in the international philanthropic setting?
Readings: The Role of Philanthropy/Donors•10 minutes
1 assignment•Total 30 minutes
The Role of Philanthropy/Donors•30 minutes
1 peer review•Total 120 minutes
Personal Learning Assignment 2•120 minutes
4 discussion prompts•Total 40 minutes
Discuss: Why do donors get involved in supporting entrepreneurs?•10 minutes
Discuss: What types of donors are actively funding entrepreneursip programs in your community?•10 minutes
Discuss: What are challenges of maintaining donor interest in entrepreneurship over the long haul?•10 minutes
Discuss: What are some strategies to get additional donors involved in supporting entrepreneurship locally?•10 minutes
The Role of Intermediary Organizations/NGOs
Module 4•4 hours to complete
Module details
Governments and donors are often forbidden by law or uncomfortable funding entrepreneurs directly so they provide grants to non-governmental organizations (NGOs) who then in turn offer capital, mentoring or other services to promising entrepreneurs. The Role of Intermediary Organizations/NGOs video lecture examines several examples of NGOs that do this type of work in Cleveland and around the world. Some key points covered in the lecture are: Why are intermediary organizations created? How do intermediary organizations measure success? What are the challenges of intermediary organizations?
Role of Intermediary Organizations/NGOs•12 minutes
1 reading•Total 10 minutes
Readings: The Role of Intermediary Organizations/NGOs•10 minutes
1 assignment•Total 30 minutes
The Role of Intermediary Organizations/NGOs•30 minutes
1 peer review•Total 120 minutes
Personal Learning Assignment 3•120 minutes
5 discussion prompts•Total 50 minutes
Discuss: What are the challenges of intermediary organizations in your community?•10 minutes
Discuss: Why are intermediary organizations created and how do they support entrepreneurship?•10 minutes
Discuss: How do intermediary organizations know when they have accomplished their mission?•10 minutes
Discuss: How do intermediary organizations measure success?•10 minutes
Discuss: How have you or other entrepreneurs in your community benefited from intermediary organizations?•10 minutes
Leveraging Anchor Institutions
Module 5•6 hours to complete
Module details
The Leveraging Anchor Institutions video lecture focuses on the role that anchor institutions such as universities can play in supporting the growth of entrepreneurship including supporting increased commercialization activity, licensing versus new company formation, and measuring success. While completing this module, consider the following questions. What are the different ways that anchor institutions stimulate entrepreneurship? Why might an anchor institution provide financial support for an early stage company? How can an anchor institution's research capabilities translate into support for early stage companies? What are the different ways that anchor institutes measure their own success?
Midterm Action Learning Assignment: Local Entrepreneurial Heroes•120 minutes
5 discussion prompts•Total 50 minutes
Discuss: What are the most prevalent types of anchor institutions in your region?•10 minutes
Discuss: Why are universities important hubs of innovation/entrepreneurship?•10 minutes
Discuss: What is the rationale behind devoting resources to help translate research into commercial products?•10 minutes
Discuss: How have you or other entrepreneurs in yor community benefited from anchor institutions?•10 minutes
Discuss: What are some available pathways for innovative ideas to find the right markets in your communities?•10 minutes
Access to Capital and Mentoring
Module 6•3 hours to complete
Module details
Entrepreneurs working outside of Silicon Valley with struggle with every day: where to find capital (and mentoring) to grow their start-up companies. The Access to Capital and Mentoring module includes three video lectures: Seed Accelerators, Angel Investors, and Venture Capital. We trace how donors and government backers in Cleveland and selected international markets have come together with the private sector to support each of these areas. While completing this module, consider the following questions. Given the challenges, why would an angel investor invest in a highly risky startup? How is an angel investor motivated differently from other investors? Who has traditionally supported seed accelerators? Why do seed accelerators ask for equity in the companies that they support?
Readings: Access to Capital and Mentoring•10 minutes
1 assignment•Total 30 minutes
Access to Capital and Mentoring•30 minutes
1 peer review•Total 60 minutes
Personal Learning Assignment 5•60 minutes
6 discussion prompts•Total 60 minutes
Discuss: How are seed accelerators funded and structured?•10 minutes
Discuss: How do angel invstors choose the entrepreneurs they support?•10 minutes
Discuss: Who are the angel investors in your community?•10 minutes
Discuss: Why is it difficult to attract venture capital funds in transitioning communities?•10 minutes
Discuss: What are the biggest challenges facing seed accelerators, angel investors...•10 minutes
Discuss: What kinds of expectations do investors in your region have?•10 minutes
Course Wrap-Up and Looking Ahead
Module 7•3 hours to complete
Module details
The Course Wrap-Up and Looking Ahead video lecture explores how much progress has been made in Cleveland and if the situation has really improved for entrepreneurs. Thought leaders and entrepreneurs provide advice for other communities around the world looking to support the growth of entrepreneurship.
Case Western Reserve University is a leading national research university located in Cleveland, Ohio. Through its seven schools and college, Case Western Reserve offers top-10 programs in health law, organizational behavior and social work and top-25 programs in biomedical engineering, international law, medicine and nursing. More than 4,000 undergraduate and nearly 6,000 graduate and professional students are enrolled at CWRU, representing all 50 states and more than 90 countries.
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Reviewed on Nov 2, 2016
Very helpful, I definitely am much more equipped with ideas and proven methods to grow as an entrepreneur even with the challenges in economies like mine.
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Review classmate assignment or work some times make me difficulties due to not found it properly. Need easy to searching.
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Reviewed on Dec 9, 2023
Loved it! Amazing for understanding local entrepreneurial ecosystems and how to build upon them.
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